Meet the Interns: CVCA’s Pilot BIPOC Internship Program
This article is part two 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 (nominated by Canadian universities from across the country) into ten 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 program to more CVCA member firms in Summer 2022.
In the profiles featured below, you’ll meet more interns from the first 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 more interns!
Tell us about yourself
I graduated from York University with a Bachelor of Commerce. In school I had always been interested in courses in finance, tax, audit, business analytics to decide which path in business I wanted as a career.
Tell us about the organization you are working with for your placement
I am currently working at the Canadian Venture Capital and Private Equity Association (CVCA) as a Research Analyst. CVCA is the voice of Canada’s private capital industry and works with the investors behind some of the biggest innovations fuelling the Canadian economy. CVCA is focused on broadening industry awareness through market research and networking opportunities so that our members can make the best decisions for their investments. The association also advocates on behalf of the industry to ensure sound public policy that encourages a favourable environment for investment.
What is your day-to-day like? What is the highlight of your experience so far?
I am proud to say that no day at CVCA is the same. I was engaged in a wide array of tasks at the organization such as updating the CVCA database aka CVCA Intelligence and creating visuals that can communicate VC and PE trends, and a number of other research tasks. By helping to classify different deals I gained an understanding of the different deal structures. I also gained experience using various resources and tools used by the VC and PE industry. These tasks sounded intimidating before I joined, but with valuable mentorship and a learning-conducive environment at the CVCA, I look forward to my work every day.
Do you have any advice for others who may consider an internship?
Based on my fulfilling experience at CVCA, I would recommend it as a place for your internship as you will get to be a part of a close-knitted family, and you will be engaged in the entire process of publishing a report from data collection, cleansing, transformation to reporting – four steps that are mission-critical for a quality report. You have the unique opportunity to will work on exciting projects and gain a very close insight into the VC and PE industry.
Tell us about yourself
I am a Master of Finance Student graduating in May 2022. I have an undergraduate degree in Economics and a professional interest in private equity.
Tell us about the organization you are working with for your placement
For my internship, I worked at Northleaf Capital Partners. It is a global private markets investment firm focused on mid-market private equity and venture capital, private credit, and infrastructure investments.
What is your day-to-day like? What is the highlight of your experience so far?
I am supporting both the deal team and investor relations (Private Equity and Venture Capital) so the tasks I complete depend on who needs help on a given day. These include:
- Assisting with slides for deal screens/Investment Committee
- Attending AGM Calls
- Researching long-term trends/threats that may affect the industry of a potential investment.
- Assisting with case studies, track records, and other documents that go into the data room
What is the highlight of your experience so far?
The culture is unmatched – everyone is pleasant to work with and willing to teach, high achieving but not negatively competitive. Another highlight is the opportunity to work with and learn from some of the brightest minds in the industry who have years of experience.
How has this experience assisted you with your career plans?
It has given me a deeper insight into the structure of the private equity market, the main tracks one can pursue within the field, and the training that is required to excel in either. I have also been able to build relationships with individuals who have become mentors. Finally, I had the opportunity to explore the different funds out there and how they differentiate themselves and position themselves accordingly.
Do you have any advice for others who may consider an internship?
As intimidating as it may seem at the beginning, go in with an open mind, ask questions and be willing to learn. When you are given the opportunity to do a piece of work, do it to the best of your ability, do not be afraid to ask questions if you get stuck, and be intentional about actively soliciting feedback so that you can improve continuously. People respond well to effort and are willing to train you if you are interested and willing to learn.
Tell us about yourself
I am a 4th-year Business Economics student at Brock University. I am an international student from Kenya and moved to Canada 4 years ago. My interests areas are in decentralized finance, fintech, and cryptocurrencies, and being a part of the digital revolution that sees the world shift from web 2.0 to web 3.0. Upon graduating I look to return to venture capital with even more hunger, desire, and knowledge. I hope to bring immense value to where I go next.
Tell us about the organization you are working with for your placement
For this internship, I worked at Information Venture Partners, a venture capital firm that focuses its investments on early-stage business to business SaaS fintech solutions. The fund was founded in 2014 as a spinoff from Royal Bank Ventures and has so far to date raised 3 funds and invested in some notable companies such as Verafin, who had the largest exit ever recorded by a Canadian company after a $2.3b acquisition by Nasdaq.
What is your day-to-day like? What is the highlight of your experience so far?
My days have all been very insightful. Between deal flow meetings with the investment team, research on upcoming markets, due diligence on potential investments, and the weekly hourly drink and chat with the team, a full day really gives me the full experience of life as a VC.
How has this experience assisted you with your career plans?
This experience has been an eye-opener not only to the venture capital world but to the world of corporate finance as a whole. During my first internship, I have gotten to learn a lot of valuable lessons firsthand with very knowledgeable people on the team. These lessons have gone beyond VC deal flow and deal sourcing and have become general life lessons, for which I will be forever grateful.
Do you have any advice for others who may consider an internship?
I believe the CVCA BIPOC internship opportunity is a once-in-a-lifetime opportunity that gives students from underrepresented communities the opportunity to get a first-hand view into the world of venture capital in ways that they may have not been able to prior. I would advise any future CVCA cohort members to go into this opportunity with an open mind, ready to learn as much as possible, put in the work, and most importantly engage with the brilliant individuals that they will inevitably meet along the way.
Tell us about yourself
I studied at the University of Toronto where I double majored in Economics and Genome Biology, and I also worked as a Financial Advisor and Program Manager at CIBC. My interests have always been aligned with new and revolutionary ideas that change the way we live, in my studies I learned about genome editing and the way it could revolutionize medicine and treat untreatable diseases. Through my role at the bank, I also became interested in fintech, particularly around AI-based models of lending, underwriting, and tailored financial advice. The more I learned about the VC industry the more I felt it was a very fitting and interesting path for me, being able to be at the forefront of budding technology and companies at their early stages with the potential to change the way we live.
Tell us about the organization you are working with for your placement
For this internship I placed at Teralys Capital, a Montréal based VC fund of funds with over 2B in AUM, making it the largest innovation-focused investor in Canada. Teralys allocates most of its portfolio within Canada and the IT and Life Sciences sectors but invests in other geographies and sectors as well. Teralys invests primarily in early-stage VC funds but has a direct co-investment allocation as well.
What is your day-to-day like? What is the highlight of your experience so far?
Outside of regular business matters like attending investment review and deal flow meetings, a big part of my work at Teralys is focused on our ESG/responsible investing integration. I spend most of my time reading ESG literature, attending virtual conferences, and going through reports and commentaries from other players that are more advanced in their integration. I presented on the topic of ESG Integration to our team and am working within a group to develop our guidelines for fully integrating ESG and responsible investing internally as well as our tools for assessing future investments along those guidelines. I have also been identifying and participating in meetings with fund managers that are advanced on these metrics and their Impact strategies to consider them for potential future initiatives.
How has this experience assisted you with your career plans?
This experience has helped a lot with my career plans. I wanted a career where I can make a global impact and had venture capital a target. Learning about all the global work and transformation around sustainability adds another layer and skillset. The fact that so much innovation is happening means it is a constant learning opportunity, and I feel like I am participating in something big that will have a lasting impact on the future.
Do you have any advice for others who may consider an internship?
Go for it! Internships like the CVCA BIPOC program can be such a fantastic opportunity to immerse yourself within a field of interest and help you get a better idea of it before launching a career. You will learn many transferable skills along the way. I would recommend to those interested in a career in VC to do your research on the industry and organization when applying, and be able to articulate why you are interested in, and what you hope to learn and develop along the way.
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.
