Sarah Smith Fund
GSB Venture Fellowship
The most rewarding three weeks in venture
Every summer, in the few weeks between internships and fall classes, I bring three Stanford GSB MBA1s into the fund for three weeks. We meet typically 30+ GPs and LPs from my network so that they gain a deeper understanding of the diversity of venture strategies and build their own venture network. The fellows reflect on where they have edge and could uniquely thrive in the ecosystem.

Fellowship Summary
What The Fellowship Is
The fellowship grew out of a traditional internship experience I started while I was a partner at Bain Capital Ventures. In 2023 with my new fund, I aspired to create the world’s best venture learning experience and created a dedicated three week program with a name, a syllabus, and real capital behind it.
Each cohort learns about the four things that define great venture investing. They source founders (often from Stanford), run real diligence on live deals, make the case for the investments they believe in, and learn directly from GPs and LPs about how firms are built and competitive deals are won. Each fellow also gets $50K of the fund to invest during their MBA2 year, with full deal attribution and carry.

What Makes This Different
Small By Design
Most venture internships are a few Zoom calls, some deal screening in a spreadsheet, and not much mentorship. My fellows meet more GPs and LPs in three weeks than most junior investors meet in a year. They meet them in person, at the firm's own office, which gives an unparalleled view into how dozens of the best venture teams work day to day. They also source and evaluate deals with real fund capital and real carry on the line, not a mock portfolio.
I keep the cohort small on purpose: three GSB MBA1s a year, chosen from a competitive pool and open application process, so I can actually get to know each fellow and what makes them tick. That doesn't end after three weeks. I help them in their second year and beyond with every career move. They know I’m just a quick phone call or text away in “those moments”. Alumni come back for a reunion dinner with each new cohort, we stay in touch over WhatsApp. As they go on to start companies or become partners at venture firms, that relationship keeps paying off both ways, in deal flow and in referrals.
When I graduated from Stanford GSB, I really didn’t understand venture. I think a lot of people think venture is only the big firms. Big firms are fantastic but so are solo GPs, generalists and specialists, diversified and concentrated, hyper-early and growth. The most important thing is for fellows to hone in on their strengths and preferences to land in an ideal spot after graduation. Seeing fellows thrive in venture and collaborate with each other and my network is simply the best.

Application Process
When To Apply
Applications open each winter quarter, typically alongside an info session, and are due in March. The fellowship is only open to GSB students before their second year.
Feel free to reach out for more information in January of your first year.

Alumni
The Fellows
A dozen fellows so far, several now leading investments at the same firms they visited as students.

Contact
Get in Touch






















































































