An IVCA program · Funded by the IVCA Foundation · Since 2007
From summer scholar to Illinois investment leader
The IVCA Scholars Program builds the talent pipeline for Illinois' private capital industry. Each summer, we place talented college students inside leading private equity and venture capital firms for real deal work, industry-funded training and a network that lasts well beyond August.
Why the program exists
Talent is everywhere in Illinois. Access to private equity is not.
Private equity and venture capital careers often start with a summer seat that goes to students who already know someone in the industry. Many strong students, especially women and students of color, never get that first look, and many who do leave the Midwest to find it.
IVCA started the Scholars Program in 2007 to change that, and the IVCA Foundation, a 501(c)(3), funds it today. Together we recruit, train and place undergraduates at Illinois member firms.
The result is workforce development for Illinois' private capital ecosystem: a more inclusive industry, a deeper bench of trained analysts, and great talent that stays in our state.
Who our scholars are
Rising juniors with Illinois roots and big ambitions
21 universities
Led by the University of Illinois Urbana-Champaign, the University of Chicago, Northwestern and UIC.
Illinois connected
Illinois residents, plus Illinois college students from Indiana, Iowa, Michigan, Ohio and Wisconsin.
Ready to contribute
Strong analytical, communication and Excel skills, with at least two years of college coursework.
Scholar spotlight
In 2026, scholars ranked their host firm and their peer cohort as the most valuable parts of the program.
The program experience
A structured summer, from selection to scholarship
IVCA runs recruiting, training and programming. Host firms choose their scholar and shape the work.
- Winter–spring
Selection
IVCA screens applicants and presents a slate. Firms interview and make offers.
- Spring
Certification
Scholars earn the Adventis Financial Modeling Certification, funded by IVCA.
- June
Onboarding
Three days of industry sessions and Wall Street Prep training in the Loop.
- June–August
10 weeks at a firm
Full-time work on a PE or VC deal team, on a schedule set with the firm.
- Wednesdays
Firm visits
Lunches and office visits across Chicago's investment community.
- August
$10,000 scholarship
Awarded to every scholar who completes the program.
Leadership & technical training
Ready on day one, and taught by the industry
Every scholar is modeling-certified before starting, then spends onboarding learning from investors, lawyers and alumni. In 2026, 5 of 6 responding host firms said this training prepared their scholar for the firm's needs.
Industry & leadership curriculum
Onboarding day, led by practitioners
- How investors think · Kellogg School of Management
- How funds actually work · Neal Gerber & Eisenberg
- The Chicago venture ecosystem · Chicago:Blend
- How investment decisions get made · Hyde Park Venture Partners and M25
- What the job actually looks like · an IVCA Scholar alum at Adams Street Partners
- Policy and the Illinois investment ecosystem
- Maximizing your summer · IVCA
Technical training
Funded by IVCA and its host firms
- Adventis Financial Modeling Certification · completed 4–6 weeks before the summer starts
- Wall Street Prep, in person · two full days of hands-on modeling at onboarding
- On-the-job coaching · ten weeks working alongside a deal team
Industry exposure
Inside 15+ Chicago firms in a single summer
Most Wednesdays, the cohort visits a different firm for lunch, a firm overview and candid conversation with investors.
2026 firm visits included:
Internship & career outcomes
Where IVCA Scholars go next
Class of 2025 scholars who won investment banking internships joined an elite-boutique or bulge-bracket bank.
Evercore · PJT Partners · Perella Weinberg · TPH&Co · Goldman Sachs · Morgan Stanley · Citi · Deutsche BankClass of 2024 alumni with updated records now work full time at a bulge-bracket or elite-boutique bank. Others joined Bain Capital and EY-Parthenon.
Goldman Sachs · Morgan Stanley · Barclays · Bank of America · Houlihan LokeyPrivate equity, growth & venture
Bain Capital · The Carlyle Group · Vista Equity · TA Associates · Hellman & Friedman · General Atlantic · Charlesbank · Adams Street · ParkerGale · Prairie Capital · 50 South Capital · Incline Equity Partners
Investment banking & advisory
Goldman Sachs · Morgan Stanley · J.P. Morgan · Evercore · PJT Partners · Centerview · William Blair · Baird · Lincoln International
The long view
Where scholars from the 2007–2011 classes are today
Alumni network
Half of our alumni build their careers in the Midwest
64 of 126 alumni live in the Midwest, and 58 are in the Chicago area. Scholars come back as hosts, speakers and mentors.
Cass Ziebel joined Prairie Capital as an IVCA Scholar in 2011. Today Cass is a Principal at ParkerGale, another IVCA member firm.
82% of 2026 scholars want to mentor future cohorts. Alumni: stay connected with IVCA →
Where IVCA Scholar alumni live (126 alumni)
The return on your support
What scholars and host firms tell us
Scholar satisfaction
2026 · 4.77 in 2025Say the program shaped their interest in a PE/VC career
2026 · 92% in 2025See, or might see, a long-term career in Illinois
2026Want to mentor future scholars
2026 · 69% in 2025Host firms would host again and recommend the program
2026Host firms say their scholar exceeded expectations
2026Host firms say their scholar met or exceeded expectations
2025Average likelihood a scholar recommends the program
2026Sources: IVCA alumni directory (employment reviewed February 2026); 2025 Scholar Survey (n=13); 2026 Scholar Survey (n=11); 2025 Host Firm Survey (n=16); 2026 Host Firm Survey (n=6). Class of 2024 figures count alumni with updated employment records.
Support the next generation of Illinois investors
Invest in Illinois' private capital talent pipeline
The IVCA Scholars Program is an initiative of the Illinois Venture Capital Association and is funded by the IVCA Foundation, a 501(c)(3) organization dedicated to developing the next generation of private equity and venture capital talent in Illinois.
Every scholarship, training seat and program day is paid for through the Foundation. When you give or partner, your support goes to the IVCA Foundation for the Scholars Program.
Individual giving
Give at any level, or fund a specific part of a scholar's summer.
Fund a Scholar
Covers one scholar's $10,000 completion scholarship.
Fund Technical Training
Covers the Adventis certification and Wall Street Prep training for [number] scholars.
Sponsor the Summer Experience
Underwrites onboarding, firm visits and cohort events.
Talent Pipeline Partnerships
Partners invest in the future workforce of Illinois private equity and venture capital: the analysts, associates and future partners the industry will hire. Partnerships are annual commitments to the IVCA Foundation in support of the Scholars Program.
Leadership Partner
“IVCA Scholars Program, presented by [Your Firm]”
- Presenting recognition on this page and in the annual Scholars Impact Report
- Two named scholarships: “The [Your Firm] IVCA Scholars”
- Lead a session in the onboarding curriculum
- Partner perspective featured in the Impact Report
- Annual briefing with IVCA Foundation leadership
Cohort Partner
“[Year] Cohort Partner”
- Logo recognition on this page and in the Impact Report
- A named scholarship: “The [Your Firm] IVCA Scholar”
- A panelist seat in the onboarding curriculum
- Opt-in scholar and alumni résumé book, each fall
- Annual briefing with IVCA Foundation leadership
Talent Pipeline Partner
“Talent Pipeline Partner”
- Logo recognition on this page and in the Impact Report
- A named scholarship: “The [Your Firm] IVCA Scholar”
- Priority to host a cohort firm visit
- Opt-in scholar and alumni résumé book, each fall
Scholar Partner
“Scholar Partner”
- Name recognition on this page and in the Impact Report
- Funds one scholar's $10,000 scholarship plus training
- Introduction to the scholar your gift supports
Every partner receives the annual Scholars Impact Report, with alumni outcomes, survey results and Foundation financials for the program. Multi-year commitments are welcome.
For foundations, family offices and major donors
Alumni outcomes tracked since 2007, annual scholar and host firm surveys, and an Alumni Outcomes & Impact summary available on request.
Half of our alumni live in the Midwest, and 58 live in the Chicago area, strengthening the firms and companies that drive Illinois' economy.
Named scholarships, multi-year pledges and program grants, structured with the IVCA Foundation to fit your giving goals.
Build Illinois' future investment talent with us
Make a gift online, or talk with us about a partnership, named scholarship or multi-year commitment. Contact Christie Pruyn, Executive Director, at cpruyn@illinoisvc.org .
The IVCA Foundation is a 501(c)(3) nonprofit organization, EIN [XX-XXXXXXX]. Gifts are tax-deductible to the extent allowed by law; the value of any benefits received may reduce the deductible amount. Each year the IVCA Foundation Award honors an individual or firm that has made a significant contribution to the Scholar Program; Shoshana Vernick received it in 2025.
Get involved
Apply or host
For students: Summer 2027
- Status
- The 2027 application is closed. Questions: ivca.scholar@illinoisvc.org
- Dates
- June 7 – August 13, 2027, in person in the Chicago area
- Who can apply
- Undergraduates entering their junior or senior year in fall 2027 (rising juniors preferred), with at least two years of coursework completed by the start date
- Residency
- U.S. citizens who are Illinois permanent residents, or who attend an Illinois college and are permanent residents of Indiana, Iowa, Michigan, Ohio or Wisconsin. Government ID is required to verify residency.
- Skills
- Strong communication, analytical and Excel skills. All majors are welcome; finance, accounting, economics or business coursework is preferred.
- Program focus
- Women and students of color, building a more inclusive private equity and venture capital industry
- Logistics
- Scholars arrange their own housing and transportation. The schedule is set with the host firm, plus weekly IVCA programming.
Placement does not guarantee a job offer. Immediate family members of IVCA member-firm employees are not eligible.
For firms: Host a Scholar
- Your investment
- $12,500 firm participation fee, covering scholar compensation, the financial modeling class and certification, incidental event expenses, and onboarding, firm visits and social events run by IVCA
- How it works
- IVCA screens applicants and presents a slate. Your team interviews and extends offers to its top choices.
- Commitment
- No hiring commitment. Your firm gets an early look at talent, with no obligation to hire.
- Contact
- Peggy Castanoli, pcastanoli@illinoisvc.org
“I'm impressed by the caliber of the IVCA talent pool that the team assembled. We look forward to hosting another IVCA intern next summer.” ParkerGale, 2025 Host Firm Survey