SVB debuts fellowship program to foster next-gen of Black, Latinx and women venture capital leaders
SVB Financial Group (SVB), financial partner of the innovation economy and parent company of Silicon Valley Bank, announced the SVB Fellows Program, a fellowship program for Black, Latinx and women professionals looking to launch their careers in venture capital.
The SVB Fellows Program is powered by the Black Venture Capital Consortium (BVCC), an organization working to increase diversity within the venture capital and entrepreneurship ecosystem, and the largest provider of specialized venture capital programming for Historically Black College and University (HBCU) students. The SVB Fellows Program connects talented emerging professionals with distinguished VC firms, where they will serve in entry-level investment roles. Fellowships are a one- to two- year commitment and participants are salaried and receive benefits or a stipend to offset the cost of benefits.
Courtney Karnes, Managing Director, SVB's Access to Innovation program: "SVB and our partners designed the Fellows Program to create pathways for a new generation of investors to succeed in the VC industry and benefit VC firms by helping them find talent with diverse backgrounds, experiences and ideas. Our aspiration is that this program will accelerate the flywheel effect of innovation investing while increasing representation in the industry."
Leading VC firms General Catalyst, Collab Capital, Material Impact and 3x5 Partners have already signed on to host fellows. In addition to connections with SVB's extensive network of VC partners and career opportunities, SVB Fellows will receive mentorship from SVB leaders, and access to training and networking opportunities designed to propel their success in venture capital for years to come.
Arum Lansel, VP of Learning & Development, General Catalyst: "The SVB Fellows Program is connecting us with talented young professionals who not only have strong foundational VC training, but also bring much-needed diversity of thought and experience to a fairly homogenous industry."
SVB plans to support twenty fellows throughout 2022, identified in partnership with BVCC on a rolling basis. At launch, candidates will be selected from professionals who have previously participated in BVCC's career development programming. As the program expands, SVB will leverage additional recruitment channels to identify additional Latinx and women fellows.
Malcolm Robinson, Executive Director, BVCC: "We are excited to be a founding partner in the SVB Fellows Program, connecting our network of talented young professionals with some of the top VC firms in the country and setting them on a path toward personal success and a more equitable venture capital ecosystem."
SVB is committed to building a more diverse, equitable and accessible innovation economy for all. Through its Access to Innovation program, SVB addresses the innovation sector's biggest diversity opportunities by creating and amplifying new and existing educational, employment and funding pathways for Black, Latinx and women VC investors. The SVB Fellows Program is part of this goal.