MANCHESTER, NH / ACCESSWIRE / January 19, 2024 / Breaking down barriers and fostering diversity in the venture capital sector is critical for innovation and creating a more inclusive entrepreneurial ecosystem. Diversity and greater inclusion in the venture capital world are pivotal in forging meaningful connections and uncovering untapped investment opportunities.
Alumni Ventures believes that diverse perspectives lead to more robust decision-making processes, encouraging out-of-the-box thinking essential in the dynamic world of venture capital. Understanding the need to cultivate diverse perspectives and inclusive collaboration, The Alumni Ventures Fellow Program (VFP), established in 2014 by AV Co-Founder Luke Antal, stands out within this movement, offering an opportunity for professionals to delve into the world of venture capital and entrepreneurship. This year-long, remote, professional extracurricular program is free to those who are accepted, with expectations of 5-10 hours per week of committed time. It has been designed to empower a cohort filled with highly accomplished, ambitious, and diverse people seeking hands-on experience, beneficial learning, and knowledge that may serve as a catalyst for launching impactful careers in venture capital.
The Alumni Ventures Fellow Program’s mission is to provide hands-on learning opportunities and professional development in venture capital while promoting diversity and inclusivity within the industry. The program aims to create an on-ramp into the world of VC for early and mid-career professionals and strives to offer opportunities for all, including underrepresented groups. Its goal is to achieve greater gender, racial, and ethnic diversity in the VC ecosystem by empowering individuals with the skills and knowledge they need to succeed in venture capital.
Going on its 10th consecutive year, the program has been a tremendous success across many measures:
- Large (600+ total Fellows have come through the program)
- Highly selective (<5% acceptance rate for our most recent cohort)
- Highly diverse (~75% identify as an underrepresented race/ethnicity or gender)
- Highly effective (~40% of program graduates go on to work in venture capital or entrepreneurship full-time within 6 months of completing the program, while others accelerate careers in other ways).
The Alumni Ventures VFP distinguishes itself through its comprehensive and well-structured curriculum. Participants gain invaluable hands-on experience in venture capital investing, actively participating in sourcing, diligence support, deal review, and more. The immersive experience is made possible by embedding fellows within small teams of experienced venture capitalists at Alumni Ventures. Additionally, a structured "VC 101" curriculum ensures that fellows build a solid foundation of knowledge and expertise in the venture capital landscape.
Unveiling the Advantages of the VFP
One of the program’s strengths lies in its ability to forge lasting connections within the venture capital space. Participants become part of Alumni Ventures‘ extensive network, engaging with teammates, fellows, and alumni. This growing community provides ongoing support, mentorship, and collaboration opportunities, enhancing the overall experience for fellows and contributing to the diversity and richness of perspectives within the venture capital industry.
The Venture Fellow Program now offers a way for top-performing Fellows to stay in the Alumni Ventures community and earn carried interest with the AV community by submitting deals they think would be a good fit for the AV portfolio as a Venture Scout. A Venture Scout is a consulting role with AV where a community of experienced investors is able to collaborate on up-and-coming companies that will change the future.
Individuals like Katie Goldstein and Kyle Asay are notable program success stories who have remained engaged with the Alumni Ventures‘ community as Venture Scouts.
Katie Goldstein, an experienced Green D Fellow turned Venture Scout, brings a rich background as a former Product Manager in the AI division at Microsoft’s Ed-Tech. Beyond her tech expertise, she is also a prolific author of multiple children’s books. Presently, she serves as an operator at Vooma, a back-office automation platform. Katie has achieved a significant milestone in a notable success story that underscores Alumni Ventures’s commitment to fostering enduring connections with past fellows. She has earned carry, representing a percentage of investment profits from a recent deal she submitted with AV, marking a substantial accomplishment in her ongoing venture endeavors.
Also continuing with Alumni Ventures as a venture scout is Kyle Asay, a Spike team fellow and Director of Strategic Initiatives at Stanford who has been instrumental in launching Alumni Ventures’ new Doctors Innovate Fund. He has a diverse background in Health Administration and Clinical Management.
The Alumni Ventures Fellow Program has been a critical launch pad for many other rising VC professionals as well, with participants sharing the following:
- "The Fellow Program has given me the opportunity to gain experience in the VC space and has been a definite catapult for my latest transition to running a venture firm investing in founders in emerging tech hubs. The program gives unprecedented access to the most supportive managing partners, who are truly invested in seeing me be successful, both within Alumni Ventures and beyond." – Kimmy P., Former Fellow with Green D Ventures.
- "The AV Fellow Program is a great way to build foundational knowledge of venture capital. It’s deliberately more structured than other programs, offering a unique balance between classroom-like learning and hands-on deal experience." Phuong M., Former Fellow with Chestnut Street Ventures
- "The Venture Fellow Program gives me an opportunity to learn different venture capital models and practical frameworks on deal/start-up evaluations. I got to evaluate and expand my knowledge in other industries, and in the midst of the program, I decided to start my own company. AV helped me think through how to fundraise for my start-up and even evaluate strategic investors to bring on board." – Ben L., Former Fellow working with Blue Ivy Ventures
A Proven Track Record
The program’s effectiveness in serving as a genuine career accelerator. By actively diversifying the talent pool and accepting applications from people of all backgrounds, the Alumni Ventures VFP contributes to a more innovative and dynamic venture capital ecosystem. Since its start in 2014, the VFP has successfully graduated over 600 alumni, with 40% of those alumni transitioning to careers in venture capital, entrepreneurship, or related fields.
The most recent January 2023 cohort welcomed 44 fellows to the program. These individuals are poised to make meaningful contributions to Alumni Ventures’ Alumni Funds and Focused Funds. According to Alumni Ventures, each fellow adds a unique perspective and skill set to the community, further enriching the space’s thought diversity.
The Application Process
For those looking to apply, Alumni Ventures says individuals must meet certain eligibility criteria. Applicants must be located in the United States, hold a Bachelor’s degree or an equivalent qualification, and, importantly, should not be an investor in Alumni Ventures or any of their funds.
The program welcomes candidates with diverse backgrounds, and while experience in venture capital is not mandatory, a genuine passion for venture capital and a clear career interest in the ecosystem are highly valued. An interesting aspect of the application process is that there is no cost involved for participants, as Alumni Ventures covers the full expenses of the program and required resources. Upon completing the fellow program, graduates often transition into various roles within the venture capital and entrepreneurial landscape, such as venture capital investors, founders/CEOs of startups, operators at a VC or startup, or VC fund managers. This holistic approach allows individuals from different university affiliations and backgrounds to apply to the Venture Fellow Program.
Initiated by Luke Antal, this program has now established itself as a renowned pathway for young professionals to venture into the realm of venture capital. Despite having positions available for only 40 Fellows, the enthusiastic participation underscores the program’s impressive reputation. Alumni Ventures received a staggering 2,200 applications this year, reflecting a strong interest in the opportunity it provides. As the program continues to evolve and inspire change, it is undoubtedly playing a crucial role in shaping the future of venture capital, one diverse and empowered fellow at a time.
CONTACT:
Andrew Mitchell
media@cambridgeglobal.com
SOURCE: Alumni Ventures
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