Venture Capital Internship
ASTRALABS
We're looking for the crazy ones that are going to change the world.
Newchip is a global virtual startup accelerator with the goal of providing world-changing early-stage startups with the tools, skills, and mentorship, and networks necessary to successfully raise, build and scale their businesses to eventual acquisition.
-We're a veteran founding team with decades of experience, numerous acquisitions under our belts, and we're looking for the next member of our team that meets both our core values and has the experience to add complimentary experience.
-We've funded over $450M into companies and are looking for entrepreneurial-oriented individuals who are in it for the long-haul to truly assist startups to drive results that create investment returns to our investors and investor partner network.
-If you're looking to make a difference, we're here to provide the mentorship, leadership, and long-term growth potential to make that dream a reality - if you're here looking for a 9-5, our company isn't for you.
Mission Statement: We deliver results and set the standard for entrepreneurs and investors everywhere.
That being said, we're a 100% meritocracy so before we move forward do you fit our core company values?
- Personal Integrity - We take ownership of our responsibilities and do what we say we will do no matter what.
- Humble & Coachable - We have respect for authority and experience, but also a hunger for constant feedback.
- Self Motivation - We strive to learn, grow, and constantly improve ourselves so that we can contribute to the team.
- Gritty Resolve - We face down all adversity, we take all criticism, and we get knocked down, but we always get back up.
- Passionately Ambitious - We put everything into our work because accomplishing the team goal, equals personal success.
About you...
- You have experience with startups and venture capital
- You have a passion for startups and world-changing technologies
- You are analytical and can do independent research
- You have excellent written and verbal communication skills
- You are outgoing and can talk to just about anyone
About Our Internships
We accept interns year-round and in classes quarterly with our internships typically lasting 4-6 months. Top interns offered full-time roles upon completion. This role is designed for recent graduates, graduating seniors, and graduate students only.
This role is full-time at 40 hours per week regardless of whether you are a recent graduate or in your graduating semester. We hire positions in Austin, TX, and remote/global - with offices opening back up in startup hubs post-COVID.
We require a video cover letter as well as a test before we will review your application - due to the volume of applications and limited roles, if you don't hear back from us, you didn't get the position. We will consider you in the future, however.
Those who score in the top percentile of our entry test will be eligible for application review and if you are not accepted into a position the first time around, you can take the test again at a later date.
*If you are in a top tier MBA program or are an exited startup founder, please apply to the Venture Fellow Role.
*Note that this internship is to intern with Newchip, if you'd like to apply to intern with one our startup portfolio companies please apply on our website under Intern for our portfolio instead.
Role Overview:
We offer internships across our companies in the following departments and roles:
Venture Analyst - Responsible for working with our portfolio of startups and investors, assisting in pitch coach workshops, coordination of accelerator programs, investor meetings, reviewing startups for investment, writing investment memos, etc.
Venture Scouts - Responsible for recruiting startups to apply for accelerator, nurturing companies through the selection process, completing due diligence, and helping Newchip and its partners select companies for our portfolios.
Venture Intern - We also offer opportunities to work on cross-functional and departmental projects learning skills from marketing to ops and finance. If you're interested in working within a specific department or company please let us know in your cover letter and your application.
The area of responsibility for this role is very wide and thus requires thorough knowledge and most importantly a passion to learn and be involved in various company processes from both a strategic and execution standpoint. To be successful in this role, you should have more than a basic knowledge of the startup scene, finance, and technology.
This internship will propel your career forward by giving you exposure and real responsibility to make an impact on a growing team as well as prepare you for an analyst or associate role at our firm or others. Prior interns have spent time supporting portfolio companies by assisting with financial models, pitch presentations, and even been offered jobs at our startups.
Note- that a video cover letter via Vimeo or Youtube is preferred over a paper cover letter in the application process.
Responsibilities (Will Be Based on Specific Internship Role)
- Your primary focus will be around identifying, researching, and assisting the venture team in recruiting and selecting our portfolio of companies while helping to nurture new companies through the application and accelerator program.
- You will have the opportunity to perform due diligence research on potential portfolio companies, design and execute marketing and biz-dev plans, attend business-related events and conferences, and observe applicant company pitches.
- You will help our portfolio companies meet the challenges of scaling their businesses by helping them source relevant networks of executives for hire, partners/service providers, as well as investors.
- You will help organize meaningful events for our portfolio during the accelerator process, ultimately bringing industry leaders together to share what they know with our community via live streams and webinars.
- You are responsible for always learning and building processes. One of your biggest challenges will be how to operationalize our transfer of knowledge and facilitate knowledge-share to and from the program to our time-strapped founders.
- You will help out on other related duties to meet the ongoing needs of the Newchip accelerator and venture fund, some of which we don't know about yet, and some of which you will help to define.
Requirements
- We review applications holistically so a degree in business and or a degree at all (if you are a past startup founder or have a successful background) are not required.
- Ambitious and flexible, prepared to frequently step out of your comfort zone, work hard to deliver the team's goals, and have a desire to create a positive, happy work environment.
- A strong drive and the ability to self-direct, especially on multiple projects at any one time. Our work and time is open-ended by nature and you must be able to identify and execute on opportunities to contribute to the team with little, if any, management or direction
- Personable, engaging and able to build relationships quickly and easily.
- Able to research, assimilate and communicate complex ideas clearly and succinctly in writing and verbally. You will see the big picture, and you'll sweat the tiniest details.
- A leader, and are able to initiate change with an ability to listen, counsel and coach.
- Have had exposure to the technology industry within a startup, leading technology company or consultancy.
- Have an outstanding network in the US startup scene.
- Graduated or graduating from a leading university with an excellent academic and extracurricular record, or are a previous startup founder (dropouts fully welcome to apply with experience in startups/tech/past successes).
- Underwrite and evaluate investments based on risk and return fundamentals
- Assist with deal structuring and the evaluation of term sheets
- Prepare discounted cash flow analyses, competitive market analyses and development model analyses for current and pipeline opportunities
- Join meetings with current and pipeline company management teams and co-investors
- Assist in the preparation of pitch decks for companies
- Limitless curiosity about business models, competitive dynamics, and innovation
- An interest in diving deep in more than one investment category, gaining exposure to companies across the financial technology landscape including cryptocurrency, trading platforms, data businesses, and technology companies.
- Passion for high quality work and the ability to relentlessly pursue continuous improvement
- Interest in pursuing personal and professional growth by learning new principles
- Familiarity with Microsoft Office — specifically PowerPoint and Excel
- Have been an assistant or played a support role at a previous organization
- Passionate about working in the Austin startup scene and helping companies succeed.
- Organized and plan ahead, but you don't get stressed out when things change at the last minute. Because they will. You roll with it.
- You write things down. You document your process and maintain records so that if you got hit by a bus we'll be very sad but still able to continue operating.
- Are professional and presentable and greet everyone cheerfully.
- Have a reliable laptop computer and smartphone.
- Are security-aware, ie you have a passcode on your computer and phone and use a password manager.
- You're eager to learn about new tools and ways to be more productive.
- Use inbox folders, calendars, are overall organized, and get to inbox zero every day.
- Don't gossip and have discretion when it comes to investments and confidential information.
- Have a cover letter and resume that demonstrates strong attention to detail and appreciation for a polished product.
Benefits
- Be a part of a global team with a hybrid in-office and remote culture with a headquarters in East Austin, Texas.
- Compensation packages include competitive rates, performance incentives, equity, and company stock options.
- Covered benefits that include medical, dental, vision, life, and disability insurances. plus we offer a 401k program.
- Up to 30 days of vacation allotted per year including PTO, Holidays, Sick Days and Election Day.
- Build culture and engage startup community with frequently planned outings and team events.
- Access to all of our certified accelerator programs if you launch a startup during your career here (valued at $250k+).
- Opportunity to make a meaningful impact in a revolutionary space working with thousands of startups around the globe!
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