Capital Market Associate

Job description

### About Gauntlet Gauntlet builds the financial systems of the future. While much of on-chain finance is focused on point solutions, we operate across the entire stack to offer best-in-class vault products. Today we serve over $1.5B in client TVL across some of the largest fintechs/neobanks, protocols, exchanges, and capital allocators in crypto — and, increasingly, traditional asset management. Our team brings together traditional finance and crypto-native expertise to deliver durable, sophisticated products for institutional clients moving on-chain. ### The role The Capital Markets team sources institutional borrow demand into Gauntlet's credit markets, structures terms, and operates the resulting book over time. You will work directly with institutional counterparties, including market makers, OTC desks, trading firms, KYC-regulated borrowers, and tokenized asset issuers, to source, structure, and close credit relationships. You will own the process end-to-end. Long-term relationship maintenance, renewal, and expansion are part of the role. ### What you'll do; - **Originate institutional borrow demand** across collateralized lending, trading and hedging strategies, structured credit, and liquidity products — from prime brokerages, trading firms, and asset-backed lending partners. - **Build the borrower pipeline across three segments:** (1) unique-market-access counterparties (e.g. RWAs); (2) committed-supply-at-scale borrowers (market makers, OTC desks, trading desks); (3) KYC-gated counterparties (regulated borrowers who cannot legally use open pools). - **Structure and close term sheets** — negotiate rate, term, size, and collateral; coordinate KYC, gating, and onboarding through to close. - **Maintain the book you originate**. Long-term relationship maintenance, renewal, and expansion are owned by Capital Markets. - **Operationalize and document** the first on-chain borrow products (starting with our current pilot) so the process is repeatable as deal volume grows, and manage inbound interest as we execute more deals. - **Work cross-functionally** with Credit Risk, Strategy & Growth, Product, and Engineering on operational integration - **Contribute to credit terms guidance** (what we offer, minimum rate, maximum term) set with Credit Risk. ### What success looks like; **First 30 days.** Ramp on Gauntlet's infrastructure and partnerships across lending markets, vaults and structured products. Meet the key internal stakeholders across Credit Risk, Strategy and Growth, Product, and Engineering, as well as counterparties in the existing book. Develop a clear view of the current pipeline and identify the gaps. **First 3–6 months.** Operating your own pipeline across the three borrower segments. Live on term-sheet negotiations and closed (or nearing close on) your first institutional credit relationship at Gauntlet. Established as the Capital Markets point of contact for at least one institutional counterparty, with the relationship owned end-to-end. **In 1 year.** Originated and closed multiple institutional credit relationships, contributing meaningful incremental book size. Operating an owned book with a consistent maintenance, renewal, and expansion cadence. Recognized internally and externally as a Gauntlet voice on institutional borrow origination. Contributed reusable playbooks and terms guidance that compress future deal cycles for the Capital Markets team. ### What you bring; - 2–6 years in Investment Banking, Leveraged Finance, or Capital Markets at a leading sell-side institution. Sell-side experience is preferred, though exceptional buy-side candidates will be considered. - Direct experience with financing transactions, debt raises, warehouse facilities, asset-backed financing, structured credit, or other capital-markets products. - Credit / leveraged-finance grounding: comfort with collateralization, liquidity, leverage, covenants, counterparty risk, and funding costs. - Exposure to transaction execution: financial analysis, credit assessment, due diligence, term-sheet negotiation, documentation, syndication, and deal closing. - Experience managing institutional client relationships (corporates, financial institutions, asset managers, market makers, trading firms, funds). - Exceptional written and verbal communication. ### Who We're Looking For - Naturally curious about digital assets, DeFi, and the evolution of institutional finance. Prior crypto experience is not required. • Someone who enjoys both origination and execution. You are comfortable sourcing opportunities, developing client relationships, negotiating economics, and driving transactions through closing. • Comfortable operating in an entrepreneurial environment with significant autonomy and responsibility. You want ownership and early direct impact. • Relationship-oriented. You enjoy developing long-term client partnerships, managing complex sales cycles, and building repeat business. ### Bonus points - Existing relationships with funds, market makers / OTC desks, exchanges, asset managers, trading firms, and/or institutional borrowers. - Experience with repo, securities financing, structured lending, warehouse facilities, fund financing, prime brokerage, or other institutional credit products. - Exposure to private credit, asset-backed finance, specialty finance, or structured products. - Prior experience with digital assets, stablecoins, or on-chain infrastructure. ### Benefits and Perks; - Remote first - work from anywhere in the US & CAN! - Regular in-person company retreats and cross-country "office visit" perk - 100% paid medical, dental and vision premiums for employees - $1,000 WFH stipend - Monthly reimbursement for home internet, phone, and cellular data - Unlimited vacation - 100% paid parental leave of 12 weeks - Fertility benefits - Opportunity for incentive compensation