Wharton School

GPVG Internship Program Launches: Wharton, Temple, Drexel Students to Gain Positions, Learning from Greater Philadelphia Venture Group Firms
Philadelphia area retains top talent as local firms mentor rising stars of private equity

February 2004 — With the launch of the GPVG Internship Program, students from the Wharton School of the University of Pennsylvania, Temple University’s Fox School of Business and Management and Drexel University’s LeBow College of Business have the chance to apply for positions as interns at selected private equity firms of the Greater Philadelphia Venture Group. The goal of the 12-week summer (2004) internships is to provide hands-on learning for students interested in a private equity career. In addition, GPVG members firms will gain new access to a vital pool of talent and increased student awareness of the Philadelphia area’s strengths in venture capital.

“These internships are an excellent opportunity for students to learn up close about the world of venture capital and private equity,” says Wharton Prof. Raphael (Raffi) Amit. “With positions at Philadelphia area venture capital firms, they can apply to real situations the theory and research they have absorbed at the Wharton School.”

During its summer, 2003 pilot phase, sponsoring venture firms included Cross Atlantic Capital Partners, Inc., Eureka Growth Capital and Quaker BioVentures, Inc. Even more firms are expected to participate for 2004.

As interns for the GPVG private equity funds, students will participate in several GPVG events, as well as attend the GPVG Venture Institute VIII (VI8) and the Wharton Private Equity Boot Camp. The GPVG Venture Institute is a concentrated half-day workshop on venture capital practices designed for VCs, service providers, entrepreneurs and students. The Wharton Private Equity Boot Camp is an intensive two-day program designed to prepare students for internships or career track positions in private equity and includes sessions on industry structure, due diligence strategies, valuation, and ethical responsibilities.

“In addition to the student interns and the GPVG member funds, one of the big winners of this program is the Greater Philadelphia area itself, as some of the most talented young people at our universities are staying in the region when they might otherwise take positions elsewhere,” says Christine Jones, Managing Partner, Eureka Growth Capital and Chair of GPVG’s Education & Outreach committee.

In their positions, the interns will have the opportunity to take on hands-on work typical of venture capitalist professionals such as conducting industry, competitive and financial analysis, as well as due diligence and reference checking. In addition, says Wharton student Craig Vaughn who participated in last summer’s pilot, the program is “great for building contacts in this region.”

About the Wharton School and Wharton Entrepreneurial Programs

The Wharton School of the University of Pennsylvania is recognized around the world for its academic strengths across every major discipline and at every level of business education. Founded in 1881 as the first collegiate business school in the nation, Wharton has approximately 4,600 undergraduate, MBA, and doctoral students, more than 8,000 participants in its executive education programs annually, and an alumni network of more than 75,000 worldwide.

In 1973, The Wharton School became the first school to develop a fully integrated curriculum of entrepreneurial studies. Today Wharton, through Wharton Entrepreneurial Programs, supports and seeds innovation and entrepreneurship globally through teaching, research and outreach to a range of organizations through its many programs, initiatives and research centers. At the same time, Wharton students and alumni are helping to build entrepreneurial enterprises around the world and impacting virtually every industry.