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Elfman-Wareham Private Equity and Venture Capital Lab

Elfman-Wareham Private Equity and Venture Capital Lab

The Merrick M. Elfman and Therese L. Wareham Private Equity Lab was created for Chicago Booth students to learn firsthand about the private equity and venture capital industries. Through the combination of an intensive internship at a private equity or venture capital firm and an academic course, students become active participants in the analysis of real-world investment decisions made by seasoned investors and also learn to apply their academic frameworks to their internship experiences.

COURSE INFORMATION

The Merrick M. Elfman and Therese L. Wareham Private Equity Lab includes an academic course and an intensive winter- and/or spring-term internship at a private equity or venture capital firm. The course component meets once a week in the evening for three hours during the spring term. There are two sections of the class, and while many common topics are covered in both sections, one section emphasizes private equity and the other venture capital.

The course is co-taught by professors Jason Heltzer, Ira Weiss, and Chris McGowan. The content is designed to equip students with timely practical tools and impart experience from industry veterans with the ultimate goal of accelerating the apprenticeship process of those aspiring to work in the private equity industry.

Coursework includes case discussions, simulated board meetings and investment committee meetings, guest speakers, workshops, and lectures. Students hear from both the professors and guest speakers on cutting-edge topics related to private equity and venture capital investing. Students also share information about their internship experiences with their classmates and work together to solve problems that arise during their internships. Various networking opportunities allow students to meet venture capitalists and private equity professionals from other participating firms.

Grades are based on host firm evaluations, classroom participation, case write-ups, and a final project. The course cannot be taken pass/fail, and it is not possible to audit the course.

Students do not need to bid any points to gain entry into the Lab; instead, there is a separate application process that does not involve bidding. Students who are admitted to the Lab will, however, receive points for their participation, which may be used to bid on other Chicago Booth courses.

The TAs for this year’s course are Kaitlyn Desai (PE), Chris Eng (VC), Tim Hildebrand (PE), Robert Kaplan (VC), Anil Mahavadi (PE), Meha Patel (VC), and Shelly Zhu (PE).

INTERNSHIP INFORMATION

In conjunction with attending spring-term course sessions, participants in the Lab also intern for 15-20 hours per week for at least 10 weeks at a private equity fund (broadly defined to include angel groups, venture capital firms, mezzanine lenders, buyout firms, and many other variations). Internships may take place during the spring quarter only, winter quarter only, or both quarters.

Students are matched with a firm based on the firm’s criteria and the student’s background. There are a variety of firms that participate in the Lab, and each looks for a specific background based on their investment focus and current projects.

Participants work on specific assignments for their firm, ranging from evaluating new market and business opportunities for investment to analyzing specific issues faced by portfolio companies.

All internships are unpaid; however, students may be reimbursed up to $500 for transportation expenses relating to their internships. Some students may stay on with their firm for the summer, in which case they can negotiate separate terms with their respective firm.

Host firms are welcome to have students sign standard non-disclosure agreements (NDAs). However, host firms are prohibited from asking students to sign non-compete agreements.

The following firms registered to participate in the 2019 PE/VC Lab. This list will be updated over the coming weeks with firms participating in this year’s Lab, so check back frequently.

Please note: Students are always encouraged to network with any firms and alumni for career purposes; however, once an application is submitted to the PE/VC Lab, please do not contact firms in the program to inquire about the status of your application or their selection process. Doing so is considered an ethical violation and may jeopardize participation in the Lab. You may check in with the Polsky Center staff for updates on the matching and selection process.

  • Abundant Venture Partners
  • Agman
  • AGR Partners
  • Akoya Capital
  • ARCH Venture Partners
  • Benford Capital Partners
  • Bluestein & Associates
  • City Capital Ventures
  • Clean Energy Trust
  • CORE Industrial partners
  • Crescendo Capital Partners
  • Edgewater Funds
  • Energize Ventures
  • Equator Capital Partners
  • Equity International
  • Erie Street Capital
  • Frontenac
  • Granite Creek Capital Partners
  • Growth Catalyst Partners
  • HC Private Investments
  • Healthbox
  • High Street Capital
  • Hyde Park Angels
  • Hyde Park Venture Partners
  • Independence Equity
  • IrishAngels Ventures
  • Jump Capital
  • Kinsale Capital Partners
  • Kinzie Capital Partners
  • Knox Capital
  • Levine Leichtman Capital Partners
  • Listen
  • M25
  • May River Capital
  • McNally Capital
  • Moderne Ventures
  • New Markets Support Company
  • New Stack Ventures
  • NextGen Growth Partners
  • OCA Ventures
  • One Equity Partners
  • Origin Ventures
  • ParkerGale
  • Patriot Capital
  • Periscope Equity
  • Pfingsten Partners
  • Pritzker Group Venture Capital
  • Promus Ventures
  • Prospect Partners
  • PSP Capital
  • PSP Growth
  • RF Investment Partners
  • Runway Growth Capital
  • S2G Ventures
  • Sandalphon Capital
  • Sawdust Investment Management
  • SE Capital Partners
  • SevenSaoi Capital
  • Spiral Sun Ventures
  • Sterling Partners
  • Tilia Holdings
  • Twin Bridge Capital Partners
  • Tyree & D’Angelo Partners
  • VestedWorld
  • Victory Park Capital Advisors
  • Wasson Enterprise

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