Internship
Search Fund Fellow
Term
Fall 2026, 10 weeks
Hours
15 to 20 per week
Location
Remote (or in-person in Chicago)
Compensation
Unpaid; eligible for university credit
Eligibility
College sophomore or above
CoreScale Holdings is a search fund based in Chicago. We are building out a cohort of 3–5 fellows for Fall 2026. If you are curious about niche industries, take pride in doing great work, and want to learn how to evaluate businesses with incomplete information, we would love to connect.
Apply
About CoreScale
CoreScale Holdings is a search fund based in Chicago. The Principals, Alvaro Ludowieg and Shreyas Kadaba, are looking to acquire a service business and operate it for the long term. CoreScale is backed by a group of 10 operators and investors who have built, bought, and sold companies of their own. For more information on Alvaro, Shreyas, and their investors, visit www.corescaleholdings.com/team. And to learn more about the search fund model, review the Stanford GSB 2026 Search Fund Study.
Internship Overview
The heart of this internship is becoming an insider in an industry you likely know little about. The research you do is the research we do. On Day 1, you will be given an industry thesis that the Principals have an initial opinion on. Then, over the following weeks, you will develop expertise by asking probing questions, conducting desktop research, and getting experts on the phone: operators, brokers, distributors, retired executives, inspectors, whatever it takes. Each week, you will present your findings and, along with the Principals and cohort of fellows, determine whether to pursue or pass on the thesis. Depending on the final outcome, you will either go deeper into the thesis by finding specific companies to reach out to or switch to the next industry of interest.
What you will learn
Running an investment research process including hypothesis development and expert research
Writing and defending an investment memo
Practicing being autonomous: setting the agenda, holding yourself to it, and managing up
Evaluating industries and businesses through a buyer’s lens
Cold calling/emailing industry participants and being engaging enough to have a meaningful conversation
Building a pipeline of companies to approach
We cover all the software and AI tools you need. The internship is eligible for university credit, and many universities offer funding for unpaid internships — we are happy to support your application.
What we look for
Curiosity. You are drawn to questions that do not have easy answers and you enjoy chasing them.
Ownership. You treat the work as yours, from the first email to the final memo.
Diligence. You do the reading, take the notes, follow up, and hold the standard when nobody is checking.
Our commitment
We intend to work with the brightest and most motivated students we can find. In turn, we are committed to making the internship a key source of growth and learning during your semester. We will do this by making ourselves available for 1:1 conversations each week, reviewing your work with the care it deserves, and teaching you how we evaluate industries and businesses. Beyond that, we will open our network to you: introductions to our investors, our operators, and the people you meet in your research, wherever they can help you take your next step.
How to apply
Apply using the form below. If you have questions about the role or the process, email us at internship@corescaleholdings.com.
Apply