Key Takeaways
- • Chicago Booth's Elfman-Wareham PE/VC Lab combines intensive internships at private equity and venture capital firms with academic coursework, enabling MBA students to apply theoretical frameworks to real-world investment decisions across multiple geographies.
- • The program supports out-of-state internship placements through the Petrick Family Student Fellowship Fund, which provides funding for travel and on-site expenses, expanding access beyond the Chicago market.
- • Admission is highly selective, requiring competitive application and interview processes, with eligibility open to Full-Time, Evening, and Weekend MBA students at Chicago Booth.
- • Winter Quarter 2027 introduces a new San Francisco Venture Capital Immersion Program, offering students a dedicated study-away experience at Third Coast Foundry in downtown San Francisco with hands-on VC internships and Booth faculty instruction.
- • The program includes targeted support for career switchers, with recorded sessions on private equity landscape fundamentals, career transition skills, and interview preparation led by Professor Chris McGowan.
Summary
The Merrick M. Elfman and Therese L. Wareham Private Equity and Venture Capital Lab (PE/VC Lab) at Chicago Booth represents a structured educational initiative designed to bridge academic instruction and practitioner experience in alternative asset management. The program combines an intensive internship at a PE or VC firm with a dedicated academic course, allowing MBA students to analyze real-world investment decisions made by institutional investors while applying theoretical frameworks from coursework to live deal environments.
The PE/VC Lab operates as a competitive, selective program requiring applicants to meet eligibility criteria and undergo a formal interview process. Participation is available to Full-Time, Evening, and Weekend MBA students at Chicago Booth, as well as EMBA and Master in Management students. The program accommodates internships across multiple geographies, with geographic flexibility supported through the Petrick Family Student Fellowship Fund, which provides financial assistance for students with out-of-state placements to cover travel and accommodation expenses.
A notable expansion of the program's scope is the Winter Quarter 2027 San Francisco Venture Capital Immersion Program, developed in collaboration with the Polsky Center for Entrepreneurship and Innovation. This study-away offering provides full-time, intensive exposure to the San Francisco startup and venture capital ecosystem. Students complete an internship with a VC firm while enrolling in the VC Lab course and two preselected electives, all taught by Chicago Booth faculty at Third Coast Foundry in downtown San Francisco during the winter quarter.
The program specifically addresses the needs of mid-career professionals transitioning into alternative investments, offering supplementary resources including recorded sessions on private equity landscape fundamentals, skills development for career changers, and interview preparation techniques led by Professor Chris McGowan. The October 2026 information session marks the beginning of the formal application cycle, with the program institutionalizing partnerships with top-tier venture capital, growth equity, and private equity firms in Chicago and beyond.
The PE/VC Lab operates as a competitive, selective program requiring applicants to meet eligibility criteria and undergo a formal interview process. Participation is available to Full-Time, Evening, and Weekend MBA students at Chicago Booth, as well as EMBA and Master in Management students. The program accommodates internships across multiple geographies, with geographic flexibility supported through the Petrick Family Student Fellowship Fund, which provides financial assistance for students with out-of-state placements to cover travel and accommodation expenses.
A notable expansion of the program's scope is the Winter Quarter 2027 San Francisco Venture Capital Immersion Program, developed in collaboration with the Polsky Center for Entrepreneurship and Innovation. This study-away offering provides full-time, intensive exposure to the San Francisco startup and venture capital ecosystem. Students complete an internship with a VC firm while enrolling in the VC Lab course and two preselected electives, all taught by Chicago Booth faculty at Third Coast Foundry in downtown San Francisco during the winter quarter.
The program specifically addresses the needs of mid-career professionals transitioning into alternative investments, offering supplementary resources including recorded sessions on private equity landscape fundamentals, skills development for career changers, and interview preparation techniques led by Professor Chris McGowan. The October 2026 information session marks the beginning of the formal application cycle, with the program institutionalizing partnerships with top-tier venture capital, growth equity, and private equity firms in Chicago and beyond.
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