Internship Description

Sebastian Espinosa ’25BUS ’25SIPA interned at Enable Ventures, an impact fund focused on closing the disability wealth gap by investing in early-stage companies driving innovation through universal design. He supported deal sourcing and due diligence, conducted market research, and contributed to impact measurement frameworks assessing financial and social outcomes. He helped refine strategic priorities and prepare investor materials, advancing Enable’s mission to deliver market-rate returns alongside meaningful social impact. He also worked to engage with the larger venture and impact ecosystem for the firm.

This summer I focused on due diligence for a company developing care management and revenue enablement tools for community health workers. The platform helps organizations document, bill, and scale services delivered by front‑line workers who serve vulnerable populations. My work involved building the investment case, drafting a comprehensive diligence memo, and presenting the opportunity to our investment committee, which ultimately approved the deal. The project aligns with Enable Ventures’ mission to back businesses that expand access, opportunity, and inclusion for people with disabilities and other underserved groups. Community health workers are a critical bridge for patients facing barriers to care, whether due to disability, language, or economic status. By supporting a company that improves the sustainability of these organizations, I helped advance an investment that integrates commercial viability with measurable impact.

I relied heavily on technical and strategic skills from my MBA and MIA coursework. Financial modelling, comparables analysis, and cap table structuring, learned in finance classes, enabled me to assess the company’s growth potential and capital needs. Courses on impact measurement and organizational analysis guided me in evaluating not only financial performance but also systemic change. Stakeholder engagement skills, honed in student groups and classes, helped me interact with founders, answer diligence questions, and coach them on fundraising and hiring. Blending quantitative work with human‑centered analysis reflected the interdisciplinary training I have received at Columbia.

A core challenge was the level of rigor required in early‑stage impact investing. With limited data and few precedents, I had to triangulate information from founder interviews, financial documents, and market research while maintaining a disciplined investment standard. I needed to balance openness to ambitious ideas with the discipline of verifying assumptions, validating claims, and quantifying impact in a way that satisfied the investment committee. Navigating that tension between skepticism and optimism was challenging but vital.

I finished the summer with a deeper appreciation for what it takes to build conviction as an early‑stage impact investor. Successful investments require persistence in sourcing, creativity in structuring, and a compelling narrative that combines financial and mission‑driven value. I learned that presenting to an investment committee is not just about numbers but about weaving a story that is analytically sound and emotionally resonant. Collaboration and generosity matter: working with partners and founders showed me how much impact investing relies on listening and aligning incentives. This experience reinforced my goal to design financial vehicles that demonstrate impact and profitability are mutually reinforcing, and I am excited to continue working at the intersection of venture capital and social impact.