Alcor M&A · Internship Program · Summer 2026

Build the AI that
reshapes how
mergers & acquisitions
get done.

Alcor is opening a small cohort of builder-interns to work alongside our M&A team — learning how real deals actually move, then shipping the AI tools and applications that will run them. You won't be fetching coffee. You'll be writing code that handles confidential information memoranda, target screening, diligence, and deal modeling.

Cohort
8 interns · selective
Duration
10 weeks · Jun–Aug 2026
Location
Hybrid · Chicago HQ
Stipend
Paid · competitive
Deadline
Rolling · early decisions favored
§ 01What you'll build

Ship tools that change how deals get done.

→ 01

A target-screening agent

An LLM-powered system that scans thousands of private companies against a buyer's investment thesis — sector, size, geography, growth signals — and surfaces ranked candidates with reasoning attached.

Python · Retrieval · Agentic workflows
→ 02

The CIM reader

A diligence assistant that ingests confidential information memoranda, 10-Ks, financial models and data-room files — extracts the numbers that matter, flags the red ones, and drafts the first-pass investment memo.

Document AI · Structured extraction · RAG
→ 03

A comps engine

Pull comparable transactions and trading multiples from public filings and proprietary deal data, normalize them, and serve a valuation range bankers can actually defend in front of a client.

Data engineering · Finance · Reasoning models
→ 04

The deal-room brain

An interface that lets a deal team query an entire VDR in natural language — every contract, every customer concentration, every change-of-control clause — with citations back to the source page.

Long-context LLMs · Citations · Search
→ 05

Buyer–seller matching

Graph-based matching between sell-side mandates and strategic & financial buyers — modeling synergies, stated criteria, and historical behavior to predict who will actually engage and at what price.

Embeddings · Graphs · Predictive modeling
→ 06

Your own tool

Every intern proposes one tool, builds a working prototype, and presents it to the partners in week ten. The strongest ones get adopted into our actual production stack. Yes, really.

Open brief · Shipping · Ownership
§ 02What you'll learn

The craft of mid-market M&A.

The M&A side

  • i.

    How a deal actually moves

    From the first teaser through LOI, diligence, definitive agreement, and close. You'll sit in on live deals under NDA.

  • ii.

    Reading a company

    Quality of earnings, working capital, customer concentration, retention curves, contract risk — the questions a real banker is paid to ask.

  • iii.

    Valuation, defensible

    DCF, comparable companies, precedent transactions, LBO math. How analysts actually build models and where the assumptions hide.

  • iv.

    The negotiation

    Reps & warranties, earnouts, escrows, indemnification — the structures that make deals fair, or unfair.

The AI side

  • i.

    Building with frontier models

    Prompt design, tool use, function calling, and the practical engineering of getting LLMs to do work that gets shipped.

  • ii.

    RAG that actually works

    Chunking, embeddings, hybrid retrieval, reranking, evaluation — and when retrieval is the wrong answer.

  • iii.

    Agentic workflows

    Multi-step reasoning, planning, error handling, and the harder question of which problems are actually worth automating.

  • iv.

    Shipping software

    Git, code review, deployment, evals, observability. We'll train you on the parts of being a software engineer that school doesn't.

§ 03Ten weeks, four chapters

A program structured like a deal.

Weeks 01 – 02

The foundations

Crash course in M&A — process, vocabulary, financial models. Crash course in modern AI tooling. Pair programming from day one.

Weeks 03 – 05

Build the core

You'll be assigned to a working tool team. Shadow live deals. Write code that goes into the actual product. Daily standups with engineers and bankers.

Weeks 06 – 08

Ship your thing

Take ownership of one feature, end-to-end. Scope it, build it, evaluate it, deploy it. Get torn apart in code review. Make it better.

Weeks 09 – 10

The showcase

Present to partners and senior engineers. The best work goes into production. Strong interns receive return offers — full-time or next-summer.

§ 04Who we're looking for

Builders, not spectators.

We are looking for brilliant self-starters, high achievers, technical chops, curiosity about finance, willingness to ship and team players

M&A is the most human business in finance. AI is the most consequential technology in our lifetime. The people who learn both — early — will define the next decade of deal-making.

— The Alcor M&A Team

Tell us why you.

Two minutes. No résumé padding, no cover-letter clichés. Show us what you've built and how you think — we read every word.

8
Slots open
10 wks
Summer 2026
~72h
Application review
1:1
Partner mentorship
FORM · APP-26

Confidential · No tracking · Read by a human