Meet the Interns: CVCA’s Pilot BIPOC Internship Program
This article is part one of a two-part series profiling the interns from the pilot cohort of CVCA’s BIPOC Internship Program.
This year, CVCA launched a pilot CVCA internship program for Black, Indigenous, People of Colour (BIPOC) students in partnership with ICON Talent Partners — a grassroots non-profit with experience helping CVCA member organizations source BIPOC talent. While there were certainly challenges given the environment created by the pandemic, we were beyond excited to have placed 10 BIPOC students from Canadian universities across the country into 10 CVCA member firms as paid interns for the Fall 2021 term.
Learnings from the pilot will be reviewed in 2022 with the goal to expand the pilot program to more CVCA member firms in Summer 2022.
In the profiles featured below, you’ll meet the inaugural cohort of the CVCA BIPOC Internship Program. These students describe how their internship has provided real-world experience and is aiding them on their career journey.
We hope through the program they will sharpen their technical skills, acquire practical experience, develop personally and professionally, and ultimately, leave with lasting connections with each other and with the teams at their individual placements.
Let’s meet the interns!
Tell us about yourself
I am a student at Concordia University, majoring in Finance, and expected to graduate next summer. Over the last 3 years, I participated in one international and two national case competitions and finished second place at “Jeux De Commerce Du Quebec.”
I am interested in a career in the capital markets, especially in private equity and venture capital because of the opportunity to work closely with great entrepreneurs and CEOs. The detail-focused nature of the work and the fast-pacing environment provides me with the opportunity to learn very quickly. My long-term goal is to become a director at a private equity firm and ultimately manage a fund.
Tell us about the organization you are working with for your placement
For this internship, I worked at CDPQ under a fund called 253, which was created in 2020 with the mandate to promote diversity and inclusion by allowing entrepreneurs from minority backgrounds or companies that have diversity at their core to have access to capital for their development. 253 strives to promote diversity at three levels of the company: ownership, board composition, and management team.
What is your day-to-day like? What is the highlight of your experience so far?
Not all days are the same. My typical day would start around 7 AM, to read news from multiple sources such as CrunchBase, Pitchbook, and BetaAI to identify potential investment opportunities that can be added to our deal flow. Then, I read my emails, classify them by priority order and then start analyzing companies that were identified as attractive investment opportunities by my manager until 12PM. Depending on the day, my manager and I would meet two or three entrepreneurs pitching their business, fund managers we want to collaborate with and other strategic partners. On average we would have four to five meetings in the afternoon. Then, I go back to the office (if not working from home) at 4PM for another two to three hours before going home.
How has this experience assisted you with your career plans?
This experience has allowed me to understand how the industry works from the inside, learn industry practice from very talented, smart and collaborative individuals, and have been provided valuable guidance to accomplish my long-term career plan.
Do you have any advice for others who may consider an internship?
I believe an internship at CDPQ or at any other private equity or venture capital organization will provide an immense opportunity to grow and learn. I would recommend anybody that wants to pursue a career in this field to start networking early, get involved in an association or extra-curricular activities that will improve their technical skills, and develop a strong passion for the profession.
Tell us about yourself
I am a CFA Charter holder and a recent MBA graduate from Schulich School of Business. I recently joined Relay Ventures as an Investment Analyst within their Toronto office. Before joining Relay, I worked with the investment consulting team at Aon, helping institutional clients with assets between $100 Million and $2+ Billion. I consider myself a lifelong learner, and I am fortunate to be part of an industry where you continuously learn about innovations and disruptive business models. I hope to continue to develop as a professional within this industry. I am passionate about empowering members of the black community, and, in that pursuit, I co-founded the Black Graduate Business Network (BGBN) at Schulich and actively volunteered with Healing As One.
Tell us about the organization you are working with for your placement
For this internship, I worked at Relay Ventures, where I have also been offered a full-time Analyst position. Relay is an early-stage venture capital fund focused on industries with the potential for growth fuelled by the rapid adoption of technology, focusing on four verticals that we believe technology will have an outsized impact on (Fintech, Proptech, Mobility, and Sportstech).
What is your day-to-day like? What is the highlight of your experience so far?
The reality is that every day is different, which is one of the benefits of this job. My time is divided between deal flow, research for due diligence and thesis development, work with portfolio companies, and other admin or ad-hoc projects. The highlights would be the engaging meetings with partners where I would present my research and discuss potential investments.
How has this experience assisted you with your career plans?
The connections I built through this program with some of the industry’s prominent leaders who share my beliefs on the benefits of diversity can not be understated. In addition, I’ve strengthened my network and my knowledge of the industry through the connections I made with my peers and by attending the various lectures held by partners within the PE/VC space.
Do you have any advice for others who may consider an internship?
This is a unique opportunity that will open many doors, so my advice would be to make the most of it by preparing before you begin. Reach out to your peers that completed this internship in the past to learn from their experience and seek advice on how to make the most if you are selected. Also, connect with analysts and associates within the industry to learn more about what they do and how they stay up to date with new trends within the industry.
Tell us about yourself
I am a student at Goodman School of Business, Brock University currently in my final year in the Bachelor of Business Administration program with a major in Finance. My previous internships experiences are in the financial services and insurance industry. I’m generally a curious person, always looking to learn new things and expand on my skill set. At the moment my interests include entrepreneurship, investing, tech, fintech, blockchain space. My long-term goal is to work in a role that allows me to use my skills and expertise towards making a meaningful change.
Tell us about the organization you are working with for your placement
For my internship, I worked at StandUp Ventures as a Junior Analyst. StandUp Ventures is a seed-stage investment firm that invests in women-led startups in B2B SaaS and healthtech space. StandUps’ core philosophy is based on the fact that women-led ventures lead to better returns. Standups’ mission is to make capital more accessible to women founders, who are otherwise often overlooked.
StandUp’s philosophy is something that I am personally passionate about, that’s why when I got an offer from StandUp for this internship it felt like a perfect fit! StandUp is a startup VC firm with a small team, which means everyone wears multiple hats and there is a lot of collaboration. The culture at Standup was welcoming and engaging since day one. The team looped me in on all the ongoing projects and was always there to answer my questions, I felt heard and that my opinion was valued. I’m grateful to have the opportunity to be part of such an amazing and inspiring team.
What is your day-to-day like? What is the highlight of your experience so far?
The day-to-day varies considerably every week depending on the deal flow or any upcoming events. The intensity of work also differs, with some days being busier than others. Working in VC means you are presented with a new challenge every day, which I believe is the most exciting part of the role. Most of my time is spent on fund operations and fundamental investment activities such as:
- Due Diligence: Assisting the team in collecting and analyzing company information and data.
- Deal screening: Meeting with prospect startups to evaluate opportunities.
- Deal sourcing: Actively looking for new prospective companies through different sources
- Financial Modeling: Creating stress test, waterfall, and valuation analysis.
- Marketing: Maintaining the brand presence on social media and website re-design.
- Reporting: Updating historical and recent portfolio numbers and KPIs.
Although my time at StandUp has been full of new experiences and exciting moments, the highlight so far has been the opportunity to write an investment memo. Going through the process of writing a memo involves in-depth research and understanding the target company, its product, market, risks, and financials. I’ve learned the rationale behind the investment and the importance of focusing on the details.
How has this experience assisted you with your career plans?
My experience at StandUp Ventures had been everything I could have asked for. I got to explore and gain insights into the startup and VC space. Beyond the technical learnings, it has helped me better understand my strengths. I discovered that I love keeping on the latest trends, hearing innovative ideas and founder stories, while feeding my inner nerd and working with spreadsheets and financial models – this experience provided all of it! I found that work in VC is meaningful, and this experience has allowed me to build a flexible skillset. With this experience under my belt, I’m hoping to find a role in a startup or VC space after I graduate next year.
Do you have any advice for others who may consider an internship?
One piece of advice I have for those considering an internship in VC is to be open to learning something new every day and be proactive about it. It doesn’t matter if you don’t have any past VC experience. You will learn everything on the job, all you need to bring is a desire to learn (ask questions!).
Tell us about yourself
I am a recent graduate from Saint Mary’s University with a degree in Finance and Entrepreneurship. I enjoy learning about start-ups and the innovations that take place in different industries. My goal is to learn more and gain experience in the PE & VC industry and grow as a professional.
Tell us about the organization you are working with for your placement
For my internship, I worked as a Junior Analyst at Yaletown Partners which focuses on investing in emerging growth stage and in software, data, and device technologies disrupting and modernizing traditional industries, services, real estate, and infrastructure.
What is your day-to-day like? What is the highlight of your experience so far?
My day-to-day includes assisting with the preparation of slide decks for various companies, deal sourcing, preparing a list of companies that fit the investment thesis, further reviewing for outreach purposes, and conduct comps analysis.
The highlight of my experience is being able to implement the academic learnings to real-life projects, getting hands-on experience, and learning directly from the experienced leaders in this industry.
How has this experience assisted you with your career plans?
This experience has added to my passion for VC & PE, and I’m interested to learn about the industry and becoming an expert with the ability to help start-ups and drive innovation in our economy.
Do you have any advice for others who may consider an internship?
My advice for anyone considering an internship is to come with an intention to learn, be curious, ask questions, and enjoy the process! If you have a passion for this industry, an internship is an amazing opportunity that can fast-track your career.
Join us in applauding our 2021 interns for their contributions this Fall and for sharing their personal experiences. If you’re interested in our internship program, please visit the BIPOC Internship page on CVCA’s website and check back often for updates for the next cohort.
