The educational mission of the Heizer Center for Private Equity and Venture Capital is to prepare our students for careers in private equity and venture capital and related fields by giving them the hard and soft skills required to create businesses, expand employment, and build value in an unpredictable business landscape. Our teaching methods range from formal classroom instruction to hands-on practice with actual challenges facing firms to student-initiated and-run educational experiences.
- Classroom Experience. The Kellogg education is built on a thorough understanding of the fundamental business disciplines and an ability to apply these concepts to the ever changing landscape of business. The PEVC curriculum at Kellogg has three basic components:
- Fundamental Disciplines. The names -- Private Equity and Venture Capital -- belie the fundamental importance of finance in these economic endeavors. A thorough grounding in finance has always been necessary to succeed in PEVC and this will not change. To be successful in the fields of private equity and venture capital, one must be able to build and run a business. This requires an understanding of how to create and market a product or service without being crushed by the competition. A command of the disciplines of marketing, operations, and strategy is also required. Kellogg's reputation as an excellent general management school means that our graduates are well-trained in finance, but not just in finance. They are well-trained in all of the disciplines.
- Foundation Course. The foundation course for the PEVC track is Private Equity and Venture Capital (FINC-445-0). This course uses the case method to study the private equity sector, particularly venture capital and buyout funds, from a finance perspective. The primary goal is to gain a broad understanding of the concepts and institutions involved in private equity markets. The course focuses on the private equity partnership’s role in choosing, valuing, structuring, and managing investments. The course also explores the issues faced in structuring private equity partnerships and in raising funds for them.
- Advanced Electives. With a foundation in the basic fundamentals, students are expected to take advantage of the advanced electives in finance, venture capital, and private equity. Course guidance is provided in the Private Equity & Venture Capital track at Kellogg and available online. These courses are suggested for those going into either private equity or venture capital. If you would like a copy of the PEVC Track brochure, you can download a copy or please contact us.
Experiential Learning -- The Lab Courses. Mastering the intuition and logic of business and learning the fundamentals of the industry are essential, but not sufficient, for success in this field. It is Kellogg's philosophy that we expect you to take the concepts we have taught you in class and be able to apply them in practice. This is rarely easy. If it was, it wouldn't have great value. To create a laboratory for our students to apply their knowledge to the PEVC industry and learn in the process, we have created two laboratory courses. In both cases, students are placed with a sponsoring firm for the quarter. The students are expected to complete a mutually agreed upon project which will give the student new insight into the industry, develop the skills necessary to succeed, and produce a product of value for the sponsor. We celebrate the end of the school year with a Sponsor's Dinner including the sponsors and student participants from the most recent year.
Note to PTMBA students: The Venture and Buyout Labs both offer sponsoring firms at remote locations (outside of the Chicago area). For those students who work during the day, this provides the ability to take advantage of these courses as long as the student has 20 hours a week to dedicate toward working with the sponsor.
Heizer Center lab sponsors, students and faculty at annual dinner, June 2009.
Photo © Nathan Mandell
- Buyout Lab (B-Lab) Finance 939 is taught by Professor Stowell. Information for both students (e.g., the application and information about the application deadline) and sponsors (e.g., information on becoming a sponsor and instructions on reviewing applications) are available online.
- Venture Lab (V-Lab) Finance 915 is taught by Professor Hochberg. Information for both students (e.g., the application and information about the application deadline) and sponsors (e.g., information on becoming a sponsor and instructions on reviewing applications) are available online.
- Student-Led Educational Initiatives. Kellogg has a long tradition of significant student involvement in the educational process. The foundation of your education in business, private equity and venture capital will occur in the classroom. We expect, however, that your education will spill outside the classroom. You will have a number of opportunities to learn and get involved in leadership here at Kellogg. Many of these activities are run under the leadership of the Private Equity and Venture Capital club. Current students interested in becoming active in the club should contact this year's student leaders. Prospective students interested in the PEVC opportunities at Kellogg are encouraged to contact current students. The student leaders are a good start.
- Private Equity and Venture Capital Conference. One of the highlights of the year is the student-led conference which bring industry professionals, alumni, students, and Kellogg faculty together for a day of discussion on the current state of the industry and the most pressing issues. The 2012-13 Conference, "Evolution: The Convergence of Private Equity, Venture Capital and Entrepreneurship," will be held on February 20, 2013. Please see the conference web site for 2013 information and registration details when they become available. Current students interested in assisting with the conference should contact the conference leadership team.
2011-2012 conference schedule
2010-2011 conference schedule
2009-2010 conference schedule
2008-2009 conference schedule
PEVC Boot Camp.
Not all students have experience in the industry prior to arriving at Kellogg. Those with experience in the industry, have not worked in all facets of the business. The PEVC bootcamp gives students a crash course in the industry. The sessions are taught by current students, industry professionals -- many of whom are alumni -- as well as faculty and staff. Sessions start early on Saturday mornings so that only the most committed students attend.
Each year a select set of Kellogg students visit venture capital or buyout firms in Chicago, New York and San Francisco, and other cities.
- 2011-2012 Trips
New York City
- New York City
- San Francisco
- New York City
- San Francisco
- Hong Kong