Securing funding is one of the biggest challenges for entrepreneurs and startup founders, but fellowships in venture capital and impact investing can provide the resources and support needed to turn bold ideas into reality. Fellowships in venture capital fuel innovation by funding high-growth startups, while impact investing allows entrepreneurs to generate financial returns while making a measurable social or environmental impact.
With venture capital investments reaching record highs in recent years, there’s never been a better time to launch your idea. Whether you’re an aspiring founder with a groundbreaking concept or a social impact advocate looking for funding, these fellowships can help you gain capital, mentorship, and industry connections. Explore the list below and bookmark your favorites on ProFellow!
ProFellow would like to thank Christa Westheimer for her assistance in compiling this list.
1. HBCUvc VC Training and Internship Program
The HBCUvc VC Training and Internship Program is a six-month, culturally-affirming experience crafted to prepare Black graduate students and those from marginalized communities for meaningful careers in venture capital. This program is for individuals passionate about using investment to drive social and economic change, equipping them with practical skills, mentorship, and a supportive community for life. Program participants are placed in paid internships with top venture capital firms. HBCUvc has negotiated a competitive summer salary of $14,000 for the 10-week internship with all partner firms. Applicants are graduate students enrolled in accredited programs, ideally with a background in business, finance, or related fields.
2. ICM Mosaic Fellowship Program
The ICM Mosaic Fellowship is a competitive, paid summer program designed to cultivate a diverse, skilled workforce in impact investing. Open to first-year graduate students, the 10-week fellowship provides hands-on experience in leading private equity, debt, real estate, and venture capital funds investing for both financial return and social impact. Fellows engage in deal sourcing, due diligence, impact measurement, and market research while working closely with senior leadership at their host funds. The program includes mentorship from an industry professional, a structured curriculum on impact investing, and networking opportunities with ICM’s extensive ecosystem of investors and entrepreneurs. Fellows receive a $20,000 stipend, an in-person orientation in New York City, and ongoing career support from ICM.
3. ACT Fellowship Program
The ACT Fellowship is a 9-month, full-time program for early to mid-career professionals eager to apply venture capital principles to philanthropy and drive social impact at scale. Fellows gain hands-on experience in venture philanthropy, working within one of four focus areas: ed-tech, public healthcare, climate action, or gender inclusivity. They work in sector research, deal sourcing, due diligence, portfolio management, impact assessment, and industry partnerships. The program provides a fully funded stipend of Rs. 60,000 per month and immersive mentorship from leading investors and social entrepreneurs. Open to Indian residents with at least two years of work experience, the fellowship is based in Mumbai, Delhi, or Bangalore.
4. Alterna Impact Fellowship Program
The Alterna Impact Fellowship Program is a 6-12 month immersive experience connecting professionals with social entrepreneurs and impact leaders in Latin America and the Caribbean. Fellows gain hands-on experience, lead strategic projects, and develop skills in impact investing and business. The program offers exposure to social innovation in a developing market while building a global network. It is unpaid but includes a support stipend, medical insurance, and travel expenses for program activities. Open to professionals with at least three years of experience, a bachelor’s degree (MBA or MA preferred), and Spanish proficiency, Fellows are based in Guatemala City or Quetzaltenango (Xela) with opportunities to travel for projects.
5. Watson Institute Flagship Fellowship
The Watson Institute Flagship Fellowship is a 16-week leadership and venture development program designed for impact-driven entrepreneurs seeking to scale their ventures with expert training, mentorship, and a global network. The program begins with a 10-day in-person immersive in Boulder, Colorado, followed by virtual weekly sessions covering key topics like funding, team management, and go-to-market strategies. Fellows receive mentorship from experienced entrepreneurs and investors, participate in an Impact Series with industry leaders, and showcase their ventures at a culminating summit. Ideal candidates are entrepreneurs with early-stage ventures demonstrating impact and revenue who can commit fully to the program and actively engage with the fellowship community.
6. NAIC MBA Fellowship Program
The NAIC MBA Fellowship Program offers a 10-month compensation opportunity for second-year MBA students from ethnically diverse backgrounds pursuing careers in alternative investments. Sponsored by leading NAIC member firms, the fellowship provides hands-on experience in private equity, venture capital, hedge funds, and real estate. Fellows conduct research, develop presentations, and support NAIC’s mission to increase capital flow to diverse-owned investment firms. This remote program requires a minimum commitment of 10 hours per week and offers a $30,000 stipend. Ideal candidates are strong communicators with a passion for diversity in finance, research skills, and a commitment to excellence in investment analysis and industry advocacy.
7. 406 Ventures Student Fellows Program
The Student Fellows program allows entrepreneurs with at least two years of school left to build upon their academic entrepreneurial experiences with real-world skills and networks. Over two years, each Fellow experiences the venture capital process. The Fellowship jumpstarts Fellows’ entrepreneurial endeavors, provides exposure to the capital community, helps fellows understand the fundraising process, and facilitates entrepreneurial branding. All Fellows must have started a company; many either work on a company when they join the Fellowship or start a company while an active Fellow.
8. KPCB Fellows Program
The Kleiner Perkins Caufield & Byers Fellows Program is a 3-month work-based program that pairs top U.S. students interested in design, engineering, and product management with innovative startup companies in Silicon Valley. Throughout the summer, Fellows are employed at our portfolio companies, where they can develop their technical skills and be mentored by an engineering executive. Fellows are also invited to private events held by KPCB and portfolio companies to meet other talented engineering students, network with technology luminaries, and explore the San Francisco Bay Area.
9. Amasia Fellowship
Amasia offers a paid remote fellowship program for college students. During the fall and spring semesters, the Fellowship is part-time; over the summer, it is full-time for all or half of the summer. Fellows work with managing partners on topics of venture capital, sustainability, and climate change. The program requires strong writing and research skills. Past fellows have written blog posts on moral hazards and returns in venture capital, analyzed accelerator landscapes, and researched venture capital investment in cleantech. Other projects have centered on sustainable food production, the impact of behavioral change on climate, and corporate climate.
10. GGV NextGen Fellows
GGV NextGen Fellows gain exposure to some of the world’s fastest-growing, globally-minded technology companies. Fellows work at a GGV-funded company for 8-12 weeks over the summer and will have access to the GGV network, connect with your cohort of NextGen peers, and develop the skills necessary for a career in technology. A GGV NextGen Fellow is a current college student who has demonstrated excellence in their field of study and has a keen interest in entrepreneurship and technology. All rising juniors and seniors are encouraged to apply. Fellows will be compensated directly by the companies. Compensation will be competitive but may vary slightly based on function and company.
11. Laconia Internship Program
Laconia is a venture capital firm that leads seed rounds in B2B software companies revolutionizing legacy industries. Interns get full exposure to all aspects of the business, gaining exceptional insight into the inner workings of a venture firm. Interns work to identify investment prospects, review pitch decks, support due diligence on prospective companies, research industries and competitors, and write investment memo drafts. They attend industry-related events, consult with portfolio companies, and support other operational activities. Interns receive a weekly stipend during the 3-5 month program and are often undergrad/grad students.
12. Venture Fellow Program
The Venture Fellow Program provides alumni of our universities exposure to venture capital. It is an educational opportunity that makes a meaningful impact on career acceleration and trajectory. Fellows will experience the entire lifecycle of a venture fund: raising capital, investor relations, deal sourcing, diligence, and making investments. No prior experience in venture capital is required. Fellows receive professional training, ongoing and regularly scheduled mentorship, and a unique, hands-on venture capital experience. The fellowship is for 1 year and can be done remotely.
13. Included VC Fellowship
The Included VC Fellowship provides 100 individuals globally from diverse backgrounds with skills and access to the world of Venture Capital. Included in VC is an 8-month fellowship comprising 2 summits and 30+ workshops. Fellows are expected to commit 20 hours a month. Included in VC’s criteria for its fellowship is that it looks for entrepreneurial individuals passionate about technology and fascinated by the potential for venture capital to drive change on a massive scale. The fellowship is free of cost and includes all materials*
14. Chicago Venture Fellows
The Chicago:Blend Venture Fellowship is a four-month program designed to prepare aspiring venture capitalists for careers in VC. Fellows gain hands-on experience by working with local VC firms, receive formal training in venture finance, and access Chicago:Blend’s extensive network. The program culminates in Blend:Talks, where fellows share insights on emerging technologies. Participants also benefit from post-program career support and professional development opportunities. The fellowship provides an excellent foundation for those looking to break into venture capital while fostering strong community connections within Chicago’s tech ecosystem.
Interested in learning more about fellowships and venture capital funding? Check out guest writer Christa Westheimer’s article, 4 Ways That Fellowships Can Help You Find Venture Capital Funding.
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