The Yale Investment Office is inviting applications for its new Prospect Fellowship, aiming to support investment management entrepreneurs through an intensive eight-week program. Up to five candidates will be selected, and the fellowship will foster long-term relationships with investment startups at any stage of development.

Fellowship Funding Types

Candidates accepted into the fellowship will receive initial funding and benefit from Yale’s extensive resources and network. According to the application, “Fellows will receive funding while harnessing the resources of Yale Investments and forging deep connections within our office and network.”

In an interview, Marcella Rooney, a representative from the Investment Office, elaborated on the fellowship’s framework and application process. Accepted fellows will receive seed capital, starting with up to $2 million in working capital, followed by a minimum launch investment of $25 million, with potential for an additional $25 million in follow-on funding. 

While the fellowship offers a total investment package of up to $52 million, Rooney indicated that smaller investments might be available depending on the strategy.

Target Fellows & Startups

The fellowship welcomes applications from startups at any phase, prioritizing talent and innovative ideas over specific experience. Rooney emphasized, “Great talent can be at any stage, and great ideas can come from anywhere,” highlighting the program’s focus on individuals with unique investment perspectives.

Finalists will undergo in-person interviews in New Haven (USA), with most programming conducted virtually. The fellowship has garnered positive attention from the investment community. Charles Skorina, founder of Charles Skorina & Company, praised the office for its commitment to seed investing, calling it “true seed investing.”

Rooney noted that the fellowship builds on a legacy initiated by David Swensen, Yale’s former Chief Investment Officer, who is renowned for establishing the “Yale Model” of investment. The fellowship reflects Swensen’s values, requiring prospective fellows to demonstrate high integrity, a solid investment philosophy, and ethical standards.

Fellowship & Investment Objective

The Investment Office plans to provide resources that promote integrity and facilitate the successful launch of investment firms, offering guidance on operations, technology, and legal agreements, as well as engagement with Yale’s network of speakers, mentors, and advisors.

As the Investment Office seeks capacity rights and proportional investment rights with fellows’ firms, the goal is to grow alongside the next generation of investment leaders. Rooney mentioned the intention to offer the Prospect Fellowship annually, potentially adjusting investment amounts and participant numbers to align with Yale’s long-term strategy.

The initiative represents a significant opportunity for startups in the MENA region, where emerging entrepreneurs can tap into Yale’s extensive network and resources. By engaging in this fellowship, MENA-based startups can not only secure vital funding but also cultivate professional connections that can propel their growth in a rapidly evolving investment landscape.