Summer 2027

Venture Capital Associate Intern

Updated on 9/3/2026

StepStone Group

StepStone Group

501-1,000 employees

Global private markets firm managing capital

Compensation Overview

$48.08/hr

No H1B Sponsorship

Baltimore, MD, USA

Hybrid

Hybrid work arrangement indicated.

MBA

Category
Finance & Banking (1)
Required Skills
Financial analysis
Data Analysis

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Requirements
  • Must be able to work legally in the United States without requiring visa sponsorship now or in the future.
  • Must be enrolled in a full-time Master of Business Administration program.
  • Must graduate in December 2027 or Spring 2028.
  • Strong attention to detail and professionalism.
  • A dedication to building and maintaining existing relationships within the venture capital community.
  • Ability to support others with a personable and humble demeanor.
Responsibilities
  • Assist with sourcing and evaluating potential venture funds, expansion-stage start-up investments, and secondary investment opportunities for consideration by the Investment Committee.
  • Monitor a subset of the existing fund and company portfolio, report progress and projections to the investment team, and prepare quarterly reports for investors.
  • Perform broad-scale industry research and analysis within focus areas and advise the broader investment team.
  • Lead a team of analysts and maintain responsibility for their workflow.
  • Complete a Capstone project related to educating the firm on a sector or industry topic relevant to the venture capital market.
  • Complete ad hoc projects as assigned.
Desired Qualifications
  • Three to five years of experience in venture capital, private equity, finance, engineering, start-up operations, consulting, or a similar industry.
  • An appreciation for the platform approach and the benefits it can provide investors.
  • A willingness to support fund and direct investment strategies on both a primary and secondary basis.
  • An entrepreneurial mindset and ability to work with little direction.
  • An executive presence with confidence to state and advocate for opinions.
  • An ability to project into the future and evaluate how new technologies may be adopted by consumers and businesses.

StepStone is a global private markets firm that manages and allocates capital across private equity, infrastructure, real assets, real estate, and private debt. It oversees about US$91 billion of private capital allocations, including roughly US$24 billion in assets under management, and builds customized investment portfolios for sophisticated investors using a research-driven process that combines primary fund commitments, secondary purchases, and co-investments. The firm operates worldwide with offices in cities such as Beijing, Hong Kong, London, New York, and Tokyo, among others. StepStone differentiates itself by its integrated approach to private markets (primaries, secondaries, and co-investments), its disciplined, research-based investment process, and its ability to tailor portfolios for large institutional clients. The goal is to provide tailored, diversified private markets exposure and capital allocation solutions that meet the needs of demanding investors.

Company Size

501-1,000

Company Stage

IPO

Headquarters

New York City, New York

Founded

2007

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Simplify Jobs

Simplify's Take

What believers are saying

  • Private Wealth subscriptions topped $2.8 billion in Q1 FY2027, accelerating recurring fees.
  • Q1 FY2027 fee-related earnings rose 30% to $105.6 million, supporting margins.
  • August 2026 SSIF deployed 50% across 26 deals, showing capital deployment momentum.

What critics are saying

  • August 2026 Q1 FY2027 revenue missed estimates at $300.6 million, pressuring valuation.
  • Performance fees fell 28% in Q1 FY2027, weakening earnings quality and dividend cover.
  • Private Wealth buy-in mechanics and public-market multiple dependence create dilution and existential cycle risk.

What makes StepStone Group unique

  • StepStone’s June 2026 platform reached $245.4 billion AUM and $913 billion total capital.
  • Its August 2026 SSIF closed at $1.7 billion, proving secondaries execution depth.
  • June 2026 PitchBook partnership monetizes proprietary deal-level benchmarking across private markets.

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Benefits

Health Insurance

401(k) Retirement Plan

Mental Health Support

Paid Vacation

Wellness Program

Company News

PR Newswire
Sep 1st, 2026
System One secures investment from Oaktree and StepStone to fuel growth in technical workforce solutions

System One, a Pittsburgh-based provider of specialized technical outsourced services and workforce solutions, has completed an investment from funds managed by Oaktree Capital Management and StepStone Group. Financial terms were not disclosed. Founded over 40 years ago, System One operates in more than 50 locations and employs over 10,000 professionals, primarily in the United States. The company serves blue-chip and government clients across utilities, telecom, industrial, and other commercial sectors with critical infrastructure needs. The investment will support System One's growth strategy and expand its service capabilities. Oaktree, which was already an investor, renewed its partnership whilst StepStone joins as a new investor. Moelis served as financial adviser and Kirkland & Ellis as legal counsel to System One and Oaktree. Debevoise & Plimpton advised StepStone.

Associated Press
Aug 26th, 2026
Voya Energy closes $35M Series A for aluminum-based metal fuel system

Voya Energy has unveiled an aluminum-based metal fuel energy system paired with an electrochemical generator that produces electricity without combustion or air emissions. The company closed a $35 million Series A round led by Energy Impact Partners, with participation from John Doerr, Mantis VC, StepStone, Founders Fund and others. The Hayward, California-based startup targets data centres and industrial operators constrained by grid access or permitting. Its fuel is produced from low-grade scrap aluminium and converted into electricity through a low-temperature electrochemical process. The industrial-scale design is expected to deliver up to two megawatts from a standard 20-foot container. Initial deployments are planned for 2027, with manufacturing scale-up in 2028. Nearly a dozen companies are partnering with Voya on pilot demonstrations.

MarketScreener
Aug 26th, 2026
StepStone closes infrastructure secondaries fund at $1.7B hard cap

StepStone Group has closed its first dedicated infrastructure secondaries fund, raising $1.7 billion across the fund and related separate accounts. The StepStone Secondaries Infrastructure Fund (SSIF) attracted $1.5 billion in capital commitments, exceeding its target and reaching its hard cap. The fund acquires limited partner interests in infrastructure funds and invests in GP-led secondary funds managed by experienced third-party infrastructure general partners. As of August 2026, the fund was approximately 50% deployed across 26 closed deals, many in the middle market. StepStone Infrastructure & Real Assets deploys an average of $13 billion annually across primary funds, secondaries, and co-investments. The firm oversees approximately $913 billion in total capital as of June 2026.

Velaura AI
Aug 18th, 2026
Velaura AI Raises $110 Million Series A to Advance the Next Generation of Ultra-Low-Power AI Compute Infrastructure - Velaura

Company surpasses $1 billion valuation as investors back proven technology designed to address AI’s mounting power constraints across data centers and Physical AI SANTA CLARA, Calif., August 18, 2026 – Velaura AI, Inc., an AI compute infrastructure company developing ultra-low-power silicon and software technologies, today announced that it has raised $110 million in Series A […]

Finimize
Aug 18th, 2026
Velaura AI hits $1B valuation with $110M Series A for low-power chip designs

Velaura AI has raised $110 million in Series A funding, achieving unicorn status with a valuation exceeding $1 billion. The round was led by Seligman Ventures, with participation from Capricorn Investment Group and existing backers Samsung Catalyst Fund and StepStone Group. The chip designer focuses on low-power designs aimed at reducing energy costs for AI data centres. According to Reuters, the company is positioning efficiency as a key differentiator as the industry faces physical constraints around electricity consumption, cooling requirements, and power delivery capacity. Velaura's approach addresses what investors see as AI's emerging bottleneck: not model sophistication, but the practical limitations of data centre infrastructure.