Location: Remote Friendly (Las Vegas, NV Preferred)

 

About Discerning Capital
Discerning Capital (www.discerningcap.com) is an investment firm operating at the intersection of gaming, sports, media, and technology. We make minority equity investments and operate House Advantage, a private credit fund providing user acquisition financing to high-growth companies.
 

About the Role
We're seeking an Investment Associate to join our team and play a key role in both our equity and credit investment strategies. This position offers a clear path to Senior Associate and/or Principal for high performers who demonstrate strong execution and strategic thinking.

 

As an Investment Associate, you'll work across the full investment lifecycle—from sourcing and analysis to deal execution and portfolio management. You'll build deep expertise in dynamic industries while contributing to the growth of an entrepreneurial investment firm.

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Responsibilities
Equity Investments:

• Identify and source new equity investment opportunities in gaming, sports, media, and technology

• Conduct comprehensive bottom-up investment analysis including market sizing, competitive landscaping, and financial due diligence

• Support the full deal lifecycle: fundraising, investor subscription process, negotiation, and execution

• Build investment materials including pitch decks, financial models, and pro forma cap tables

• Develop industry expertise by tracking market trends, competitor actions, financings, and M&A activity

• Contribute to ad hoc projects as needed

Credit Investments:

• Identify and source new credit investment opportunities for the House Advantage fund

• Perform detailed credit analysis and due diligence on potential borrowers

• Assess credit quality with emphasis on unit economics: LTV/CAC ratios, marketing efficiency, payback periods, and retention metrics

• Evaluate customer cohort data to understand business sustainability and growth potential

• Support deal execution from term sheet through closing, including creating investment materials and financial models

• Assist with portfolio monitoring and ad hoc analytical projects

 

Our Ideal Candidate

• Experience: 2-5+ years of professional experience in investment banking, sell-side equity research, buy-side investing (venture capital, growth equity, public markets), or operating roles within gaming, sports, or media

• Qualities & Mindset: Genuine passion for investing and business building, with demonstrated interest in our sectors of focus

• Intellectual curiosity and an ownership mentality—you take initiative and drive projects forward

• Entrepreneurial mindset and comfort with ambiguity; we're building something special and operate more like a startup than a traditional investment firm

• Desire to become a thought partner to the broader investment team, not just a ‘model jockey’

• Collegial team player who thrives in a small, high-impact environment

• Desire to contribute to building a large, enduring investment firm from the ground up

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What We Offer

• Flexible Work Environment: Remote-friendly with a preference for individuals willing to work in Las Vegas, NV

• Annual Cash Bonus: Annual cash bonus tied to firm performance

• Carried Interest: Carried interest participation in fund returns

• Work-Life Balance: Flexible vacation policy

• Growth Opportunity: Clear path to Senior Associate and Principal roles for strong performers

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Why Join Discerning Capital?
This is a unique opportunity to join an entrepreneurial investment firm at an exciting stage of growth. You'll gain exposure to both equity and credit investing, work directly with firm leadership, and build expertise in some of the most dynamic sectors in the consumer economy. If you're looking to take ownership of your career and help build something meaningful, we'd love to hear from you