Throughout my internship I worked on a variety of projects that all helped to advance the mission of Arctaris Impact Investors. One of my longer duration assignments required thinking deeply about how the firm tracks and measures the impact from its investments, and how those data points might be presented for internal and external consumption. In the long term, the impact measurement exercise will nudge the firm toward potentially higher quality impact reporting, and hopefully better outcomes for end beneficiaries.

Other assignments spanned from contributing to the underwriting of investments that served as either the firm’s first entry into a new market or the deepening of the firm’s relationship within a community. Arctaris’s commitment to disadvantaged communities extends beyond its capital — it also lends its talents and time to its partnerships with states and counties. In partnership with Amazon and the Initiative for a Cooperative Inner City (ICIC), the firm is currently involved in an accelerator for minority-owned Connecticut based suppliers that may lead to them securing contracts with Amazon facilities.

As I switched hats to work on different projects throughout the summer, I found myself tapping into lessons from courses like Strategy Formulation when evaluating industries; Financial Accounting when analyzing income statements; and Real Estate Finance when working on a model for a new development. On the communication front, I recalled lessons on working within teams from LEAD. Specifically, I made it a point early on to learn the communication styles of each person I worked with, recognizing that trying to follow a one-size-fits-all approach is less conducive to building trust and rapport. Aside from complimenting the courses I took over the prior nine months, my experience during the summer inspired me to double-down on courses related to private equity and financial modeling. As was the case during my first year, I am looking forward to working on projects and assignments that will be relevant to my next full-time role.

To prepare for a post-MBA career in impact investing at a traditional investment firm, I came into my summer internship with the main goal of working on investment memos and eventually, a financial model. However, coming from a role in portfolio management for the impact investing team at a private foundation, I experienced a learning curve as I got up to speed on the nuances of how private equity funds underwrite and operate. Needing to understand deeply the firm’s investing criteria and culture to get tasked on a model, I paid close attention during the investment committee and all-staff meetings. Additionally, by prioritizing effective communication, I helped to ensure I delivered on my projects. My proactive approach enabled me to be thorough in my work, elevating the value of my contributions. By the end of my internship, I not only gained financial modeling experience but also strengthened my cross-functional teamwork skills. As I start the second year of my MBA, I am bringing along several takeaways from my internship. Firstly, I gained hands-on experience with financial modeling for real estate investments and operating companies. Given that I want to continue my career post-MBA in impact investing on the private equity side, the experiences I got underwriting real investments are meaningful.

On a similar note, I am now more conversant on how private equity funds operate and, in turn, can be more targeted in the search for my next role. On the complexity of impact measurement, I have a deeper appreciation for the impact investors who have developed a robust tracking and reporting system. Lastly, before the summer I had not considered extensively whether private equity funds were lending their time and expertise in community partnerships. I will be on the lookout for funds that, similar to Arctaris, are multifaceted in their approach towards improving the lives of people in disadvantaged communities.