Skip the spreadsheet-only analyst internship. Learn how lower-middle-market deals actually get done, starting with live conversations with real founders.
About Caprae
Caprae Capital Partners is a private equity and acquisitions platform led by Kevin Hong, a serial founder who scaled two tech ventures to $31M ARR and $7M in revenue. Since launching in January 2025, Caprae has become one of the fastest-scaling platforms in the lower-middle-market M&A and ETA ecosystem. It pairs an international research engine with a full-stack deal sourcing arm and a rapidly growing tech layer.
Year to date, our services divisions have completed $50M in transaction value, and we expect to pass $150M across Q1 and Q2 of 2026. We are looking for people who want to take PE to the next level.
The Internship
The Caprae Buyside Internship is a high-intensity training ground for future dealmakers. There is no passive research and no slow-paced modelling. You learn M&A fundamentals the way practitioners do: live conversations, real negotiation psychology and rapid exposure to deal structuring.
Your foundation is outbound calling, where you learn to talk with founders, read their motivation, handle objections and draw out the information that matters to a deal. As early as week four, you can move into supporting real deals and learn valuation logic, structure mechanics and the sequence of an ETA transaction. This is the only internship that puts the human side of M&A first, because that is where deals are won.
What You Will Do
- Call business owners and executives every day
- Handle objections, gather context and understand founder psychology
- See how buyers and sellers negotiate outside of textbooks
- Practise controlled, professional persuasion
- Keep conversations structured and focused on outcomes
- Use what you learn on calls to support deal structuring in the lower middle market
- Weigh seller motivations against buyer constraints
- Assess fit, feasibility and deal readiness
- Learn the mechanics of earnouts, seller financing, rollover equity and reps and warranties
- Watch real deal conversations unfold and see structures adjust as they go
- Support live buyer and seller interactions
- Help prepare call notes, next steps and negotiation plans
- See how Caprae works through valuation gaps and structure negotiations
- Learn what kills deals and what revives them
- Observe deal pacing, sequencing and the psychological arc of a transaction
Why It Stands Out
- 100% real-world communication and deal execution
- Negotiation psychology from day one
- Fast exposure to real transaction mechanics
- After one month of strong KPIs, the chance to work with the deal team and research team
- Interns who make the deal team and manage deal flow can earn up to 20% of our success fee, and several have built potential bonus pools of $50K+
- We strongly prefer to hire our full-time team from this program: 3 interns converted to full-time in 2025, and we expect significantly more in 2026
Who Fits
- Strong communicators and fast learners
- Students who want responsibility early
- People who want to learn how deals really happen, not just how they are taught
- People who learn by doing rather than observing
- People who enjoy structured, dynamic conversation more than spreadsheet-heavy analysis
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Buyside Analyst Intern employer: Caprae Capital Partners
Caprae Capital Partners is an exceptional employer for aspiring finance professionals, offering a dynamic work culture that prioritises hands-on experience and real-world negotiation skills. Interns will benefit from direct exposure to live deal dynamics, fostering rapid personal and professional growth in a fast-paced environment. With competitive hourly pay and the opportunity to engage with founders directly, this internship is designed for those eager to make a meaningful impact in the world of M&A.
