Raven- Health Tech & Services Venture, MBA Intern

About Raven:
We are Raven, RA Capital’s healthcare incubator. From discovery to delivery, whether we incubate, accelerate or rejuvenate, Raven’s goal is to turn scientific breakthroughs into transformative therapies and get them quickly, safely and efficiently to the patients that need them most. Raven’s experienced scientists, operators, and healthcare innovators have deep sector expertise across therapeutics, diagnostics, devices and services. They have brought hundreds of therapeutics into development, managed hospital systems, optimized clinical trials and navigated payor and regulatory systems to deliver patient impact - and they are ready to work with you.

About RA Capital:
Founded in 2004, RA Capital Management is a multi-stage investment manager dedicated to evidence-based investing in public and private healthcare, life sciences, and planetary health companies. RA Capital creates and funds innovative companies, from private seed rounds to public follow-on financings, allowing management teams to drive value creation from inception through commercialization and beyond. RA Capital's knowledge engine is guided by our Tech Atlas internal research division, and Raven, RA Capital’s company building team, offers entrepreneurs and innovators a collaborative and comprehensive platform to explore the novel and the re-imagined. RA Capital has more than 150 employees and over $10 billion in assets under management.

The Role

This internship sits within the Health Tech & Services Venture (HTSV) team at Raven, with an emphasis on building healthcare technology and healthcare services companies.
We’re looking for an MBA intern to join our team for the summer and work directly on active venture capital incubation projects across health tech and healthcare services. You’ll be embedded in the scrappy, fast-moving work of building companies from zero to one. You’ll own real workstreams that feed directly into investment decisions and go-to-market strategy. Expect to go deep on markets we’re exploring, produce analysis that
shapes how we think, and present your findings to senior team members.

What You’ll Work On
Market & Thesis Development
• Size addressable markets and identify underserved segments across healthcare services, digital health, and health benefits
• Map regulatory landscapes and reimbursement dynamics that shape commercial viability
• Develop bottoms-up financial models to stress-test unit economics and venture-scale potential Competitive & Landscape Analysis
• Build competitive maps across target verticals identifying incumbents, emerging players, and structural gaps. Analyze business models, go-to-market strategies, and defensibility of
comparable companies
• Synthesize findings into investment-grade landscape overviews Diligence & Deal Support
• Conduct primary and secondary research to validate key assumptions in active venture theses
• Support analysis for portfolio companies as needed
• Contribute to pilot design, KPI frameworks, and commercial strategy as ventures move from thesis to execution

Who You Are
• Current MBA candidate at a top program
• Genuine interest in healthcare innovation
• Strong analytical toolkit: comfortable with financial modeling, market sizing, and translating data into a clear narrative
• High agency, self-directed, and comfortable with ambiguity
• Excellent written communication: you can distill complexity into a tight, well-structured memos and presentations
• Prior experience in healthcare startups, consulting, or venture/growth investing is a strong plus

What We Offer
• Direct exposure to the full lifecycle of venture creation, from thesis to company formation
• Mentorship from an experienced team of operators and investors with deep healthcare networks
• A small-team environment where your contributions are visible and valued

Location: Remote-flexible; periodic collaboration in-person as needed
Duration: Summer 2026 (10–12 weeks)

The base salary range reflects our good faith estimate at the time of posting. Final compensation will depend on factors like experience, skills, and location. The role may also be eligible for an annual bonus and long-term incentives. Compensation and benefits may be updated in the future.

Salary base range
$60—$80 USD