AVG Launches VentureCorps
July 30, 2020 | Jeannie Masters
Applications live: July 30
MANCHESTER, NH, July 30, 2020 —
Alumni Ventures Group (AVG), one of the nation’s most active venture investors, today announced the launch of their new VentureCorps program — a paid, full-time, year-long program designed for graduate students and undergraduate upperclassmen across the country who are interested in a career in entrepreneurship or venture capital. The program is designed for those who plan to defer or take a leave of absence from a higher education degree program for the 2020-2021 academic year.
The VentureCorps program adds to AVG’s existing successful Venture Fellow Program, which has provided a free, part-time educational on-ramp to the VC industry for hundreds of fellows nationwide.
AVG plans to offer 6-10 full-time VentureCorps positions, for a ten-month period from Labor Day 2020 through July 4, 2021, with compensation equivalent to an annual $40,000 salary. Applications are due by Friday, August 14, and are available online.
VentureCorps Program Details
Each VentureCorps member will be embedded with an AVG team operating out of San Francisco, Boston, New York, Austin, Chicago, or the company’s HQ in Manchester, New Hampshire. Applications from remote candidates will also be considered.
“For many students, this upcoming year of graduate school or college is creating huge stress and uncertainty. They signed up for a full-time, in-person experience — but now many don’t have that option in the 2020-2021 school year. AVG’s VentureCorps program is for those who want a rewarding, full-time apprenticeship-style job with AVG for a year before rebooting their higher education next fall,” said Alumni Ventures Group CEO Mike Collins.
Alumni Ventures Group is a venture capital firm dedicated to growing and engaging with an inclusive community of teammates, clients, and entrepreneurs disrupting the status quo in order to build a better future. The firm manages various venture funds, including its 16 alumni funds designed for alumni and friends of the communities of top American universities. AVG also offers open access and focused funds, including its Deep Tech Fund, Basecamp Fund, and Total Access Fund that invests in hundreds of startups each year. AVG is a private, for-profit firm not affiliated with any college or university. In 2019, AVG was the third-most-active venture investor in the U.S. and seventh-most-active in the world, per Pitchbook Global League tables (January, 2020).
“We spun up VentureCorps because we believe that obstacles can be opportunities. Colleges and universities across the country perform a critical role preparing future entrepreneurial leaders and are vital to our society and economy, and those of us in industry share that responsibility too. At a time like this, everyone needs to lean in and invest in our future leaders, who are in a very tough spot. We also think apprenticeship-model programs like VentureCorps can be an important way to boost on-ramps to VC and entrepreneurship from a diverse group of future teammates,” said Collins.
In addition to the new VentureCorps program, AVG has for several years run a free part-time Venture Fellow Program, which has graduated 265 past Fellows and currently serves 135 Fellows nationwide. Seventy-three percent of Fellows come from groups or communities underrepresented in the venture capital industry, and 40% of Fellows have experienced career acceleration within six months of graduation.
Consistent with AVG’s Just Cause of expanding the community of entrepreneurship, AVG is searching for a diverse group of VentureCorps candidates with different backgrounds and experiences. Remote candidates are encouraged to apply, though some preference will be given to those able to work from Boston, NYC, SF, Chicago, or NH so that they can benefit from the dynamic of shared space and in-person connection as AVG offices re-open.
VentureCorps work, depending on which team the member is embedded with at AVG, will range from sourcing promising startups to researching, doing diligence work, supplying organizational and administrative help, and supporting community outreach efforts (webinars, online connection, portfolio company services, etc.). VentureCorps members will have access to ongoing educational opportunities via AVG webinars, syndication and portfolio due diligence, access to Venture Fellow Program educational coursework, and more.
VentureCorps applications are due by Friday, August 14, and are available online.