The 10 Best Venture Capital Fellowships
VC fellowships are a great way for aspiring investors, entrepreneurs, and GPs to gain real VC experience while receiving mentorship, access to events, and a network of peers. Here are ten of the top ones.
Posted November 8, 2024
Table of Contents
Venture capital fellowships (VC fellowships) offer invaluable opportunities for aspiring investors, entrepreneurs, and general partners to gain experience, mentorship, and a network of industry peers. Here’s a look at ten of the top VC fellowship programs available.
What is Venture Capital?
Venture capital (VC) is a primary funding source for growth and early-stage companies, which are often considered too high-risk for traditional loans. VC firms provide funding in exchange for equity, taking on a partial ownership stake. Their goal is to help startups grow and eventually achieve high returns when the companies are acquired or go public.
For more background, read What is Venture Capital and How Does it Work? and Top Venture Capital Firms.
What is a Venture Fellow?
Venture Capital Fellowships are entry-level apprenticeships for individuals interested in the venture capital field. These fellowships provide a structured program designed to deliver foundational venture capital experience. Participants engage directly with startup founders, practice financial analysis, conduct due diligence, support investment decisions, and network within the venture capital industry. Fellows are guided by experienced mentors who help navigate the complexities of venture investing.
Typically lasting between eight months to two years, these fellowships provide essential skills, connections, and mentorship for those pursuing a career in venture capital.
Venture Capital Internships vs. Fellowships: What’s the Difference?
While both internships and fellowships offer venture capital experience, some key distinctions include:
- Focus on Development vs. Work Experience: Fellowships typically prioritize skill-building and industry exposure, while internships often involve more daily operational tasks.
- Target Audience and Compensation: Fellowships generally target post-graduate professionals or graduate students, offering stipends, whereas internships are open to undergraduates and may be unpaid.
- Demographic: Fellowships are suited for those with bachelor’s degrees or higher, while internships are accessible to underclassmen or early-career individuals.
If you’re a college underclassman interested in VC, read this next: 10 Finance Internships for Freshmen in College (2025).
The Best 50+ Free Resources to Break Into Venture Capital
We've compiled the most comprehensive list of all the best resources to help you land a job in the competitive world in VC.
How to Break Into Venture Capital
VC fellowships can be highly competitive stepping stones to full-time roles. To stand out, it’s essential to understand both the industry landscape and how your unique experiences can add value. Here are several strategies for strengthening your application and making a compelling case for why you're the ideal candidate.
For more insights, read: How to Get Into Venture Capital: Lessons Learned Interviewing 100+ Investors
Build your industry context
Understanding the venture capital ecosystem is critical. To develop this context:
- Follow VC leaders and firms on Twitter (X) – Many investors share industry insights and deal highlights on social media. Engage with their posts to stay informed and build a rapport.
- Listen to VC-focused podcasts – Shows like "The Twenty Minute VC" or "Invest Like the Best" offer valuable perspectives on the industry’s key players, trends, and what makes a successful startup. Read The Best Venture Capital & Private Equity Newsletters and Podcasts for more.
- Attend industry events and webinars – Conferences like TechCrunch Disrupt or virtual pitch events hosted by platforms like AngelList are great opportunities to learn directly from VCs and startups. Engage in Q&A sessions and follow up with speakers for networking.
- Read thought leadership content – Subscribe to newsletters (e.g., "StrictlyVC," "The Margins") or read books that provide foundational knowledge, such as Venture Deals by Brad Feld. Understanding term sheets, deal structures, and startup financing will help you stand out in conversations and interviews.
Get startup experience
Gaining direct experience with startups is one of the most valuable steps you can take when pursuing a career in venture capital. Interning at early-stage startups offers firsthand exposure to the challenges and opportunities that new businesses face. Many smaller startups are often in need of extra hands, so don’t hesitate to reach out directly to founders, offering your help in areas like operations, marketing, or product development even if they’re not actively advertising internships. You can also build experience by working on startup projects. Volunteering for side projects with student-led ventures, accelerator programs, or nonprofit tech initiatives showcases your initiative and provides a deeper understanding of what it takes to bring a concept to life.
Another option is to start something of your own. Even if your startup doesn’t scale, the process of ideation, customer discovery, and execution will give you valuable insights that VCs appreciate. Additionally, you can engage with your campus’s entrepreneurship scene by participating in pitch competitions, interning with university-affiliated incubators or accelerator programs, or even joining a student-run venture fund. These experiences not only bolster your resume but also provide a hands-on understanding of the startup ecosystem critical knowledge for anyone looking to succeed in venture capital.
Find a specialty
To stand out in venture capital, it’s essential to develop a specialization that distinguishes you from other applicants. Focusing on a specific industry, such as fintech, healthcare, or climate tech, allows you to become a domain expert. By staying informed on sector-specific news and emerging companies, you can highlight this expertise when applying for fellowships and show how it makes you a valuable asset to an investment team. Another way to specialize is through geographical expertise. If you have connections or knowledge of a particular region, such as Latin America or Southeast Asia, use that to align with firms that prioritize those markets.
Additionally, building strong sourcing skills is crucial. Venture firms value candidates who can spot promising startups early, so create your own pipeline by attending pitch events, joining networking groups, or even curating a newsletter that highlights rising companies in your area of interest.
Build, and then leverage, your network
Building and leveraging your network is just as important as your knowledge in venture capital. Start by connecting with other VC fellows, as many fellowship programs have alumni networks or online communities. Reach out to former fellows on LinkedIn or Twitter to ask about their experiences, which can provide invaluable tips and potentially open doors to recommendations. Additionally, get to know startup founders, especially those at early-stage companies, as they often have direct connections to VCs. Volunteering or working on a startup’s cap table can also help you meet investors. Finally, join venture and startup-focused student clubs at your university. Actively participate by organizing events or bringing in guest speakers, as these activities can lead to exclusive fellowship opportunities and valuable mentorship.
Develop fundamental finance and analytics skills
Aspiring venture capitalists must be able to evaluate deals using both intuition and data-driven analysis. To stand out, it's important to build a strong foundation in key financial and analytical skills. Here are the core areas to focus on:
- Financial modeling and valuation (cap tables, dilution, and early-stage valuation)
- Data analysis (market data, customer acquisition costs, and unit economics)
- Excel and Google Sheets proficiency
- Basic SQL
Tailor your application to the firm
Fellowship applications are highly competitive, so it’s crucial to tailor your materials to the specific firm. Start by telling your story in a way that highlights both your qualifications and your passion for venture capital. Share any unique experiences, such as a family background in entrepreneurship or a personal interest in emerging technologies, that make you a strong fit. Even if you haven’t worked in VC before, draw connections between your past experiences and the skills needed in venture capital, such as problem-solving, creativity, or analytical thinking. Finally, research the firm thoroughly and tailor your application to reflect their focus. Mention portfolio companies you admire and how your background aligns with their investment thesis to make a stronger case for your fit.
The Top 10 Venture Capital Fellowships
Pear Fellows
- Founded: 2014
- Location: Remote and San Francisco
- Length: ~1 year
- Eligibility: Students at select universities
- Applications Open: Specific dates for 2025 are yet to be confirmed
Pear Fellows offers a competitive VC fellowship designed for aspiring investors from select universities. Since its inception in 2014, this program has focused on hands-on experience in venture capital, providing participants with opportunities to engage in deal sourcing, deal review, and diligence support. With personalized mentorship from successful entrepreneurs and access to a network of industry leaders, fellows gain the expertise needed to thrive in the venture capital industry. The program culminates in an immersive training experience in San Francisco, enhancing the prospects for participants looking to launch their careers in venture.
See more here: Pear Fellows
Kauffman Fellowship
- Founded: 1995
- Location: Silicon Valley
- Length: 2 years
- Eligibility: Experienced investors
- Applications Open: Applications for Class 30 open on October 9, 2024, with final submissions due by January 10, 2025 (apply here)
The Kauffman Fellowship, established in 1995, is a prestigious venture fellow program aimed at experienced investors seeking to enhance their careers in the venture capital industry. This two-year program focuses on developing the leadership skills necessary for effective investment decisions and fostering connections with top VC firms. Participants engage in comprehensive training, covering financial analysis and deal flow management, while building a strong network of peers and former heads of successful funds. This fellowship prepares fellows to become influential leaders and venture capitalists in the field.
See more here: Kauffman Fellows
Included VC
- Location: Remote
- Length: 8 months
- Eligibility: Diverse, aspiring venture capitalists
- Applications Open: Ongoing updates; the program regularly accepts applications.
Included VC is a pioneering fellowship program launched to address the lack of diversity within the venture capital industry. This eight-month remote program supports aspiring investors from diverse backgrounds, providing them with the mentorship and skills needed to succeed in VC firms. Participants engage in a structured curriculum that emphasizes due diligence and investment strategies, alongside networking opportunities with industry leaders. By focusing on underrepresented groups, Included VC aims to empower the next generation of venture capitalists and entrepreneurs.
See more here: Included VC
.406 Ventures Student Fellows Program
- Founded: 2005
- Location: Remote
- Length: 2 years
- Eligibility: Entrepreneurial students
- Application Dates: Specific dates for 2025 are yet to be confirmed; check the official site for updates.
The .406 Ventures Student Fellows Program has been empowering MBA students since 2005, offering a two-year fellowship that provides hands-on experience in venture capital. Participants work closely with venture capitalists and entrepreneurs, engaging in deal sourcing and operational support for startups. The program focuses on mentorship and collaboration, allowing fellows to build a robust network within the VC community. This fellowship is ideal for those looking to start their own company or pursue a career in investing.
See more here: .406 Ventures
RippleX Fellowship
- Founded: 2019
- Location: Remote
- Length: 12 weeks
- Eligibility: Undergraduate and graduate students
- Application Dates: Typically accepted in the spring; exact 2025 dates will be announced soon. (Apply here)
The RippleX Fellowship is a 12-week remote program designed for undergraduate and graduate students with an interest in venture capital. Since 2019, this fellowship has provided participants with practical experience in the investment process, including financial analysis and mentorship from seasoned investors. The program emphasizes collaboration and community, making it an excellent entry point for those hoping to explore careers in venture capital or entrepreneurship.
See more here: RippleX Fellowship
Land a VC Job With the Help of an Expert
If you’re looking or applying for venture capital roles, the best thing that you can do to make your application stand out is work one-on-one with a Leland coach. They’ll be able to provide expert and personalized guidance on networking, technical venture skills, interviews, and much more. Below are some of our top VC coaches, browse them all here.
Alumni Ventures Venture Fellow Program
- Founded: 2014
- Location: Remote
- Length: 1 year
- Eligibility: Bachelor’s degree required, U.S.-based
- Application Dates: Ongoing applications for upcoming cohorts (Register your interest here)
Launched in 2014, the Alumni Ventures Venture Fellow Program is aimed at U.S.-based professionals holding a bachelor’s degree who want to enter the venture capital field. This year-long program provides fellows with opportunities to engage in diligence support, deal flow analysis, and networking with experienced investors. Participants benefit from a structured curriculum and direct connections to venture capital firms, equipping them with the skills to advance their careers in the industry
See more here: AV Venture Fellow Program
Vectors Capital
- Location: Remote
- Length: 6 months
- Eligibility: Professionals and advanced students
Vectors Capital offers a six-month remote fellowship for professionals and advanced students interested in sustainable and impact-driven investing. The program focuses on venture capital due diligence and operations, preparing fellows for roles at the intersection of finance and sustainability. It’s a great fit for those looking to make a positive social or environmental impact through venture capital.
See more here: Vectors Capital Fellows Program
Venture Fellows Program
- Founded: 1999
- Location: Variable
- Length: 1 year
- Eligibility: MBA candidates
- Applications Date: Applications open in early January 2025 (Get access to the application or register your interest here)
The Venture Fellows Program connects MBA candidates with leading private equity and venture capital firms. Founded in 1999, this one-year program offers practical experience in financial analysis and investment operations. Participants have the chance to work on real deals and develop relationships with industry leaders, enhancing their understanding of the venture capital industry and preparing them for successful careers.
See more here: Venture Fellows
Venture for America Fellowship
- Founded: 2021
- Location: Variable
- Length: 3 months (Summer)
- Eligibility: Undergraduate students
- Application Dates: Get access to the application or register your interest here
The Venture for America Fellowship provides undergraduate students with a summer experience in startup roles. This three-month program combines training with hands-on projects at startups, equipping fellows with the skills necessary for careers in entrepreneurship and venture capital. The fellowship also supports participants in launching their own companies, helping them build the experience needed to thrive as future business leaders
See more here: Venture for America
GGV NextGen Fellowship
- Founded: 2021
- Location: Variable
- Length: 3 months (Summer)
- Eligibility: Undergraduate students
- Application Dates: Applications open from October 15 to November 15, 2024
The Bessemer Fellowship connects undergraduate students with tech companies in Bessemer’s portfolio. Applications for the Summer 2025 fellowship will open from October 15 to November 15, 2024. This program focuses on providing high-performing students with internship opportunities in engineering, product, or data science roles at startups, with a particular emphasis on candidates from diverse backgrounds.
See more here: GGV NextGen Fellowship
These fellowships are great opportunities but not an exhaustive list. Many times, there are fellowships at local or smaller funds that will provide you with the same skills. If there is a fund you aspire to work at that doesn't offer an official fellowship program, contact them! They may hire fellows in a more informal manner.
Interested in VC? Here are a few other articles you may find interesting:
