VC Internships in 2025: How to Land One (NYC, SF, London, Remote)

Venture capital internships are one of the most competitive positions in finance. Most VC firms have 2-5 interns per summer. The top firms receive 500+ applications for those spots. And unlike investment banking or consulting, there's no standardized recruiting timeline — every firm does it differently.

But here's the upside: VC firms value hustle over pedigree more than almost any other financial institution. If you can demonstrate deal sourcing ability, market knowledge, and genuine intellectual curiosity about startups, you can land an internship without going to a target school. Here's everything you need to know.

Types of VC Internships

Summer Analyst (Most Common)

The standard VC internship. 10-12 weeks, typically June through August. You'll work full-time in the firm's office, sit in on partner meetings, and get assigned to specific investment areas. Most summer analysts are rising juniors or seniors in college, though some firms accept graduate students. This is the most structured path and the one most likely to convert into a full-time offer.

Part-Time During School Year

Many mid-size and small VC firms hire part-time interns (10-20 hours per week) during the academic year. These are less competitive than summer roles and often less formal — you might find them through your university's career office or by emailing partners directly. The work is similar but more focused on research and sourcing rather than full investment process.

Fellowship Programs

Programs like Dorm Room Fund (backed by First Round Capital), Contrary, and Rough Draft Ventures let students invest real money while still in school. These aren't traditional internships — you're acting as a full investor, sourcing deals on your campus and in your network. The experience is arguably more valuable than a summer analyst role because you're making real investment decisions, not just writing memos.

What You'll Actually Do

Forget the glamorous image of taking pitches from founders over espresso. The reality of a VC internship is a lot of research. Your typical week breaks down roughly like this:

Deal sourcing (30%): Finding startups the firm should look at. You'll scour Product Hunt, LinkedIn, university accelerators, and your own network for companies that fit the firm's thesis. Good sourcing means you find a company before it shows up on everyone's radar.

Market maps (25%): Visual overviews of a sector — who the players are, how they're positioned, where the white space exists. A partner might say "map the developer tools landscape" and you'll spend a week identifying 50-100 companies, categorizing them, and presenting your findings.

Due diligence (25%): When the firm is evaluating a specific deal, you'll help with research — customer references, competitive analysis, financial model review, and background checks on founders.

Pitch meetings (20%): You'll sit in on meetings with founders. At most firms, interns observe but don't lead conversations. Take detailed notes. After each meeting, partners will ask for your take — this is where you build your reputation internally.

Top Firms That Hire Interns

Large firms with formal programs: Andreessen Horowitz, Bessemer Venture Partners, General Catalyst, Insight Partners, and Lightspeed Venture Partners all run structured summer programs. These are the most competitive — expect 200-500+ applicants per slot.

Mid-size firms (often the best experience): Firms with $200M-$1B in AUM often give interns more responsibility. You'll work closer to partners, get real deal exposure, and have a better chance of converting to full-time. The trade-off: less brand recognition on your resume.

VC Internships by City

NYC: New York's VC scene focuses on media, fintech, healthcare, and enterprise SaaS. Firms like Union Square Ventures, Lerer Hippeau, and Thrive Capital are headquartered here. The networking advantage: you're surrounded by founders, bankers, and operators in the same 10-block radius. NYC interns tend to see a wider variety of deal types.

San Francisco / Silicon Valley: Still the center of gravity for tech VC. Enterprise software, AI/ML, developer tools, and deep tech dominate. The density of startups per square mile is unmatched. Interning in SF means you'll be at the epicenter of whatever the current hype cycle is — which is educational even when the hype is overblown.

London: Europe's VC capital. Firms like Index Ventures, Balderton Capital, and Atomico are major players. London internships often provide exposure to pan-European deals — you'll analyze companies from Berlin, Stockholm, Paris, and Tel Aviv. The fintech ecosystem is particularly strong.

Boston: Biotech and university spinout central. Firms like Flagship Pioneering, Atlas Venture, and Polaris Partners are nearby. If you're interested in healthcare or deep science, Boston is the place. The proximity to Harvard, MIT, and Mass General creates a unique deal flow.

Remote: Post-COVID, many firms offer remote internships — especially for sourcing-focused roles. The upside: access to firms you couldn't geographically reach. The downside: less in-person learning, fewer spontaneous conversations with partners, and harder to build relationships. If you can do in-person, do in-person.

How to Get a VC Internship

1. Start a venture club at your school. If your university doesn't have one, start one. If it does, lead it. This signals genuine interest and gives you a platform to invite VCs to speak, which creates warm relationships before you need to ask for an internship.

2. Write investment memos publicly. Pick a sector you care about. Write a detailed analysis of a startup — their market, their competition, their business model, and whether you'd invest. Publish it on Substack, Medium, or Twitter. Three good public memos are worth more than a perfect GPA when applying to VC firms.

3. Build a deal sourcing track record. Keep a spreadsheet of startups you've discovered early. Include the date you found them, your initial assessment, and what happened next. If you identified a company six months before it raised a big round, that's evidence of sourcing ability.

4. Network at startup events. Demo days, pitch competitions, and startup meetups are where VCs hang out. Go consistently. Don't pitch yourself — be genuinely interested in the startups presenting. VCs notice the people who ask good questions.

5. Apply through firm websites (July-October for summer). Most firms post internship openings on their websites between July and October for the following summer. Some recruit on a rolling basis. Set up Google Alerts for "[firm name] internship" and check firm career pages monthly starting in June.

Compensation

VC internship pay varies widely. Large firms pay $5,000-$8,000 per month. Mid-size firms pay $3,000-$5,000 per month. Some smaller funds and solo GPs offer unpaid internships (or stipend-only) — these can still be worth it if the learning is exceptional, but don't accept unpaid work from a fund managing $100M+. They can afford to pay you.

For context, investment banking summer analyst programs pay $15,000-$20,000 per month. VC pays less, but the work-life balance is dramatically better (50-hour weeks vs. 80+) and the learning about startups and technology is unmatched.

Interested in VC as a career? Explore our VC salary benchmarks by role and seniority, prepare with our VC interview question database, or start building your investment skills through our academy.