
Material Change Institute Fellowship
Empowering underrepresented investors through rigorous training and mentorship.

Empowering underrepresented investors through rigorous training and mentorship.
Material Change Institute is a first-of-its-kind nonprofit organization building a capital ecosystem that delivers equal access and exceptional returns through diversifying the venture capital and private equity investment industry. The flagship fellowship program aims to increase representation of women, ethnic minorities, LGBTQ individuals, veterans, and those from disadvantaged backgrounds in decision-making roles within asset management and venture capital.
The Material Change Institute Fellowship aims to address the representation gaps in venture capital and private equity by equipping underrepresented individuals with the skills, networks, and experiences necessary to succeed as investors. By diversifying the investment landscape, the program seeks to enhance deal flow identification and improve investment returns.
Applicants are encouraged to showcase their unique perspectives and experiences in the investment field. A strong commitment to learning and a passion for venture capital will enhance their application.
Candidates must identify as women, ethnic minorities, LGBTQ individuals, veterans, or come from disadvantaged backgrounds, and have a strong interest in venture capital and private equity.
The fellowship is open to underrepresented individuals seeking to excel as investors. Interested candidates can apply through the program's website.
Fellows benefit from rigorous training in venture capital fundamentals, access to established investor networks, hands-on experience in fund management, and a supportive community of diverse emerging investors.
The fellowship lasts for one year, with a structured curriculum that includes virtual learning, mentorship, and practical internships.
Graduates of the fellowship have secured investment roles at top firms, launched successful funds, and created impactful ventures, demonstrating the program's effectiveness in fostering diverse investment leaders.
Who can apply, how people get in and whether it is open right now.
Programs pick people whose work they can already point to. Put yours where it can be found.
The program has not published how to apply. Terms and dates change. Check the official page before you act.
Participants receive a stipend during their internships, ensuring financial support while gaining valuable experience in investment roles.
The fellowship is open to underrepresented individuals in the investment community.
The program includes virtual learning, mentorship, paid internships, and incubator experiences.

Empowering diverse leaders in early-stage investment.
60 programs
Clean Energy Ventures FellowshipClean Energy Ventures
E14 Fund VC Fellows ProgramE14 Fund
Blackbird Foundry FellowshipBlackbird Ventures62 programs
NEA Fellowship (New Enterprise Associates)New Enterprise Associates (NEA)
GC Venture FellowsGeneral Catalyst
Cade Ventures FellowshipCade Ventures63 programs
Andav Capital Venture FellowshipAndav Capital
UndercoverVC FellowshipOlivewood Ventures
RippleX FellowshipRipple Ventures98 programs
Longevity Biotech FellowshipLongevity Biotech Fellowship
GC Venture FellowsGeneral Catalyst
E14 Fund VC Fellows ProgramE14 Fund106 programs
NEA Fellowship (New Enterprise Associates)New Enterprise Associates (NEA)
Andav Capital Venture FellowshipAndav Capital
GC Venture FellowsGeneral Catalyst131 programs
a16z Build Ops Engineering FellowshipAndreessen Horowitz
Apollo Health Ventures Moonshot Venture FellowshipApollo Health Ventures
Longevity Biotech FellowshipLongevity Biotech FellowshipFrom public sources
CDL's September 2022 article describes Material Change fellow Soo Jeon shadowing Health-stream mentor Ray Muzyka.
Source: CDL Partnership BlogCreative Destruction Lab reported in September 2022 that its Material Change partnership launched in March 2022.
Source: CDL Partnership BlogIn its historical inaugural-class release, Material Change described paid internships; current availability and amounts are unverified.
Source: Material Change Institute Launches Fellowship to Bring Greater Equity to Investment, Announces Inaugural ClassFast Company's March 2022 correction describes an inaugural price of $1,995.
Source: Investing has a diversity problem that this new nonprofit is trying to fixFast Company reported a $2,995 program price in March 2022; current fees require confirmation.
Source: Investing has a diversity problem that this new nonprofit is trying to fixMaterial Change's blog dates its five-cohort article April 2, 2026.
Source: Blog – Material ChangeSuperscout Pro
Is this page right?Reviewed · How the research works