VC Associate @ Grounded Capital in San Francisco, CA

This position is ideal for someone looking to deepen their real estate investment knowledge while making meaningful contributions to a values-driven firm.

The Associate is a key member of Grounded Capital’s Investment Team, supporting the execution of our real estate investment strategy. We are seeking an individual with strong financial and analytical modeling skills, strategic insight, industry experience, and intellectual curiosity who is aligned with our values.

As an Associate, you will engage directly with senior investment professionals and external partners. You will play a pivotal role in underwriting and managing investments, working collaboratively with colleagues on the entire investment lifecycle. You will be involved in sourcing, underwriting, and closing transactions; monitoring and managing real estate projects and investments through strategic shifts; and executing follow‑on investments and exits.

You will also help develop and articulate the firm’s investment themes and strategies collaboratively with other team members.

• Conduct industry and sector research for thematic investment strategies.
• Generate investment ideas collaboratively with team members.
• Conduct outreach to investment prospects.
• Identify and cultivate relationships with aligned organizations, intermediaries, and partners.

• Conduct financial analysis, property diligence, and evaluate investment structures and terms.
• Analyze social, ecological, and financial impacts of potential investments.
• Prepare investment memos and due diligence materials articulating the investment case and structure.
• Manage activities related to multiple new and follow‑on investments simultaneously at different underwriting stages.

• Communicate with property and asset managers; conduct site visits to evaluate progress toward strategic goals.
• Liaise with sponsors, consultants, and accounting partners to review budgets and verify data accuracy.
• Participate in construction and development meetings; track decisions, flag issues, and summarize next steps.
• Track property‑level cash positions and assist with Cap Ex planning and liquidity tracking across projects.
• Review and summarize third‑party vendor reports, sponsor communications, and recommendations.
• Assist with annual valuations and appraisals by organizing inputs, validating assumptions, and summarizing results.
• Complete investor reports, internal portfolio reviews, investment valuations, financial updates, and additional quantitative and qualitative analysis of portfolio holdings.
• Participate in overseeing indirect real estate investments and flag material updates or follow‑ups.

• Draft clear and compelling memos based on meetings, partner updates, analysis, and communications.
• Lead or support cross‑functional projects related to strategy, portfolio planning, budgeting, communication, or impact assessment.
• Maintain and update investment data within the CRM and portfolio management system.

• Demonstrated personal or professional commitment to Grounded’s values and mission to build the health of social, ecological, and financial systems.
• Bachelor’s degree required;
  Master’s Degree preferred.
• 3–5 years of relevant experience, ideally in development, portfolio management, or asset management for an institutional investor, or developer/operator of Class A properties.
• Prior experience at a Private Equity firm or Family Office preferred.
• Experience with asset management for multifamily, mixed‑use, office, or retail real estate.
• Strong financial and analytical modeling skills are required.
• Excellent writing and communication…