Venture Operations Associate

Employment Type: Full-Time

Work Setting: In-office

Work Location: San Francisco

Work Hours: Office hours

Find out more here: https://semianalysis.com

About SemiAnalysis

SemiAnalysis is an independent research and analysis firm specializing in the Semiconductor and AI industries. Our in-depth coverage spans the entire supply chain, from semiconductor fabrication processes to cutting-edge AI models, software, and infrastructure. We are widely recognized as a leading authority in AI and semiconductors, with a deep bench of technical experts and a research platform that informs investors, operators, and policymakers globally.

We are expanding our venture investing efforts focused on frontier AI, infrastructure, semiconductors, and enabling technologies. This role sits at the intersection of fund operations, investment execution, portfolio management, and investor reporting.

Learn more: https://semianalysis.com

Position Overview

SemiAnalysis is hiring a Venture Fund Operations Associate to help manage the operational backbone of our venture fund. This role will support fund administration, deal execution, portfolio tracking, investor reporting, compliance workflows, capital calls, and the day-to-day infrastructure required to run a high-performing investment platform.

This is a hands-on role for someone with prior venture, fund operations, investment operations, or fund administration experience who understands the detailed operational work required to run a venture platform. You will work closely with the investment team, finance and accounting providers, fund administrators, legal counsel, banks, LPs, and portfolio companies to ensure the fund operates cleanly, accurately, and efficiently.

This is a full-time role based in San Francisco.

Responsibilities

Legal & Fund Compliance

• Support structuring and negotiation of portfolio company investments, including: review and negotiate term sheets, investment documents, and side letters

• Advise on fund compliance, risk management, and governance matters

• Manage the fund's status as an Exempt Reporting Adviser (ERA) including Form ADV filings and ongoing obligations

Accounting & Finance

• Bookkeeping and maintenance of fund and management company financial records

• Support preparation of financial reporting for LPs and internal use

• Coordinate with external accountants and auditors

HR, Payroll & Benefits

• Establish and maintain payroll processes for management company employees

• Select and implement a payroll platform (e.g. Gusto, Rippling, or ADP)

• Administer employee benefits including health insurance, 401(k), and other offerings

LP Advisory Committee (LPAC)

• Serve as primary coordinator and liaison for the LP Advisory Committee

• Organize and lead quarterly LPAC meetings including agenda preparation, materials distribution, and minute-taking

• Track LPAC consent and approval requirements under the LPA and ensure proper process is followed

Requirements

• 3–5 years of experience in venture capital, fund operations, investment operations, investor relations, fund administration, private equity, or a related role.

• Strong understanding of venture fund mechanics, including capital calls, LP reporting, investment closings, cap tables, and portfolio tracking.

• High attention to detail and comfort working with financial, legal, and operational data.

• Strong Excel / Google Sheets skills and ability to manage structured datasets.

• Excellent written and verbal communication skills.

• Ability to manage multiple workstreams, deadlines, and stakeholders in a fast-moving environment.

• Self-starter mentality with strong ownership, judgment, and follow-through.

• Ability to work full-time from San Francisco.

Preferred Skills

• Experience working at a venture capital firm, fund administrator, private equity platform, or investment office.

• Familiarity with fund accounting, tax reporting, K-1 processes, capital account statements, and quarterly reporting packages.

• Experience with CRM or fund management tools such as Attio, Affinity, Salesforce, AngelList, or similar platforms.

• Exposure to AI, semiconductors, infrastructure, or deep tech investing.

• Experience coordinating with founders, LPs, legal counsel, banks, fund administrators, accountants, and external service providers.

• Strong process-building ability, including creating trackers, templates, documentation systems, and internal operating procedures.

Growth Areas

This role offers the opportunity to grow with SemiAnalysis’ venture platform and take on increasing ownership across fund operations, investor reporting, deal execution, and platform infrastructure.

Over time, this person may grow into broader responsibilities such as:

• Owning larger parts of fund operations and investor reporting.

• Building scalable systems for portfolio tracking, CRM management, and fund administration.

• Supporting more complex deal execution and closing processes.

• Managing relationships with fund administrators, legal counsel, accountants, banks, and other service providers.

• Developing deeper exposure to venture investing, AI infrastructure, semiconductors, and deep tech markets.

• Helping shape the operating foundation of a growing investment platform.

At SemiAnalysis, you will help build the operational foundation for a venture platform investing at the center of the AI and semiconductor ecosystem. You will work closely with the investment team, founders, LPs, and service providers while gaining exposure to both the investment process and the operational machinery behind a fund.

We offer generous PTO, office stipends, highly competitive healthcare, dental and vision coverage, and support for conferences and continued learni