Program · Fellowship
Mosaic Fellowship (ICM)
Mosaic Fellowship is Impact Capital Managers' fellowship offering summer associate placements at impact funds for graduate students.
- Application state
- Not currently accepting
Overview
What Mosaic Fellowship (ICM) offers
What Mosaic Fellowship (ICM) is
The Mosaic Fellowship is Impact Capital Managers' flagship Talent & Leadership Development program. It places high-performing graduate students as paid summer associates at ICM member host funds, which are private capital funds investing for meaningful impact and superior financial returns. Since 2019, Mosaic has placed 115+ graduate students into summer associate roles. Fellows work inside ICM member funds for the summer and receive exposure to fund management work including due diligence, landscape analysis, financial modeling, deal sourcing, portfolio-company support, impact management, marketing, and fundraising.
Operational profile
Program status and context
Program status describes the program itself. Application availability and deadlines remain separate.
- Operational status
- Active
- Program type
- Fellowship
- Host organization
- Impact Capital Managers
- Last reviewed
- June 12, 2026
Terms and economics
Published program terms
- Stipend
- $20,000
- Price
- Free
- Compensation
- Stipend
Compensation and economics
Fellows receive a stipend of $20,000 for the 10-week summer program. No carry or investment authority is offered.
Focus and fit
Who the program is for
Program thesis
Mosaic is sector- and asset-class broad within private capital impact investing. Fellows can be placed across venture capital, private equity, debt, real estate, and related impact strategies at ICM member funds pursuing meaningful impact and superior returns.
Eligibility
The fellowship is open to students enrolled in a graduate degree program at the time of application. Applicants do not need to be in an MBA or finance-related program, though familiarity with quantitative analysis is recommended. ICM encourages diverse candidates and people traditionally underrepresented in the field, while stating it does not select, prioritize, or exclude candidates based on legally protected characteristics.
Selection approach
Candidates apply in the fall, rank host-fund, impact vertical, investment-stage, asset-class, and work-location preferences, and answer questions demonstrating relevant skills. Host funds review the applicant pool and interview/select top candidates based on background, skills, and fund-priority alignment.
- Stages
- Friends and Family · Angel · Accelerator · Pre-seed · Seed · Seed+ · Series A · Series A+ · Series B · Series B+ · Series C · Series C+ · Series D · Series E · Series F · Growth Equity
- Regions
- Global
- Audience
- Students · Investors · Fund Managers
- Career stage
- Student
Format and cadence
How participation works
- Presence
- Hybrid
- Main location
- New York City, New York, United States
- Duration
- 10 weeks
- Cohort size
- 21
- Cohorts per year
- 1
- Engagement
- Full Time
Delivery model
The program has a hybrid presence, with mandatory in-person orientation in New York City and host-fund placements that may vary in format.
Participation expectations
The program is structured as a full-time 10-week summer fellowship, not a founder accelerator or scout program.
Availability and engagement
Application timing and route
- Application state
- Not currently accepting
- Next deadline
- November 16, 2026
- Admissions
- Application Only
- Application materials
- Written Statement · Interview
Published timeline
The 2026 application deadline was November 16, 2025, and ICM has announced the 2027 application period as mid-October to mid-November 2026, with interviews in January-February 2027 and the fellowship period in June-August 2027.
Value and support
What participation may provide
Publicly described support is context, not a guarantee of current delivery or future benefit.
What participants may receive
Fellows receive a $20,000 stipend for the 10-week summer program, with orientation costs in New York City reimbursed by ICM. Some host funds may offer additional travel or relocation stipends or performance-based bonuses negotiated directly between the student and fund. Program components include a mandatory intensive in-person orientation in New York City, impact-investing curriculum led by ICM member-fund leaders, weekly Friday check-ins, networking events, career-pathing programming, peer camaraderie, and a dedicated Partner-level mentor from another ICM member fund.
Outcomes and track record
What the public record shows
Historical activity and reported outcomes provide context, not a guarantee of future results.
- Last recorded cohort
- May 28, 2026
Reported outcomes
ICM's 2026 news page reports that Mosaic has placed 116 graduate students since launch and that 70% of graduates have gone on to full-time roles at ICM member funds or other leading impact investing institutions.
Common questions
Program details at a glance
Mosaic Fellowship (ICM) is published in Upseed as a fellowship program hosted by Impact Capital Managers. Upseed treats the Program and its host Organization as separate records so each can have its own status and sources.
Source and update disclosure
Know what this page is based on
Source basis
Public organization and program material, official websites, and structured Upseed records.
Last reviewed
June 12, 2026
Known limits
Terms, deadlines, and application states can change. Confirm current details at the published destination before acting. Upseed does not yet classify every Program destination as official.
Upseed is an independent guide. It is not affiliated with, endorsed by, or the official representative of this program or its host.