From Vision to Momentum: Cohort 5 Marks a Milestone for VC Include
In September, VC Include marked an important milestone: the completion of the fifth cohort of the Fellowship for Impact Fund I Managers. What began as a bold experiment in creating access and support for underrepresented fund managers has now grown into a thriving community of 91 alumni representing 66 funds – a network that is shaping the future of alternative capital markets.
The 2025 Fellowship was our most ambitious and diverse yet. Out of a highly-competitive applicant pool and rigorous application process, 13 funds (16 Fellows) were selected to be members of Cohort 5 of the Fellowship program. This year’s cohort brought together managers from 11 states, with an extraordinary 70% identifying as women—the highest representation in the Fellowship’s history. Their funds span more than 30 verticals, from AI and energy to food systems, healthcare, CRISPR, and supply chain. They represent not only geographic and demographic diversity, but also the bold ideas and fresh perspectives that are reshaping private markets.
Throughout the 12-week program, Cohort 5 heard from more than 30 guest speakers and worked in small groups with four dedicated mentors who provided coaching and guidance. Fellows built the skills to refine their strategies, strengthen their fundraising approaches, and deepen their confidence as leaders. The Fellowship program encourages Fellows to put their skills to work immediately, and this year it paid off. During the program, they collectively raised more than $15M – a clear signal of the traction and momentum within this community.
Beyond the numbers, the Fellowship is defined by the lived experiences of its participants. One Fellow described it this way:
“The programme is incredibly well thought out and intentional. What stood out most to me is the emphasis on building the core foundation every fund manager needs: self-confidence — the confidence to build, to fundraise, to connect meaningfully. I’ve truly appreciated the VC Include experience and don’t take for granted what you’ve done for me. It’s given me even more fire to succeed in this space and to approach everything I do with thoughtfulness and excellence.”
- Victoria Olayide Adesanya, VOA Venture Partners
Another spoke to the sense of belonging the Fellowship creates:
“The speakers and the support from the VCI program leaders were incredible. Building a venture fund can be a lonely endeavor and finding your tribe of people going through the same ups and downs can be difficult.”
- Lauren Abda, Branch Venture Partners
Together, these reflections capture the essence of the program. The Fellowship is not simply about technical training or exposure to LPs. It is about building the confidence to lead boldly, the resilience to navigate uncertainty, and the community to ensure that no Fellow walks this path alone.
As the 12-week journey came to a close, Fellows gathered in New York City for a day of reflection and celebration. For the past four years, the Fellowship has closed with a virtual LP showcase. This year, we opted to host the Showcase in person, giving the Fellows the opportunity to make deeper connections with LPs. Hosted by BNY Wealth offices and with a sweeping backdrop of Manhattan, Fellows pitched their funds to a room full room of LPs, advisors, and ecosystem leaders.
The Showcase brought energy and optimism, but its true meaning lay in what it represented: the culmination of months of growth, community-building, and vision-setting. It was the moment where Fellows stepped into the spotlight not only as graduates of a program, but as confident, connected leaders ready to raise capital and drive impact. And for one Fellow, this was immediate as he announced his first close during his presentation!
As the Fellows became graduates during a ceremony over dinner, they joined the ranks of those who came before them. VC Include has now supported 66 firms and 91 fund managers, who have collectively raised more than $1B, invested in more than 350 companies, created more than 6,000 jobs across the US and beyond. As our Executive Director Milton Speid said, ““There are many broad shoulders that we stand on, but we are only as strong as the shoulders that we lean on.”
Looking back on five years of VC Include Fellowships, one truth is clear: the Fellowship is cultivating a movement—one that expands who gets funded, who manages capital, and who shapes the future of our economy. As each new cohort graduates, the network grows stronger, more connected, and more influential. Together, they are proving that when diverse managers are equipped with the right tools, visibility, and community, they don’t just launch funds—they have the ability to transform markets.
