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the

Investment Career Accelerator Program (ICAP)

Your gap year program for a comprehensive insight into the world of consulting and investments

Frau guckt in die Kamera

ICAP x YOU!

Learn about your opportunities in the investment world in 9 months and 3 different companies!

Frau guckt in die Kamera

ICAP x YOU!

Learn about your opportunities in the investment world in 9 months and 3 different companies!

Overview ICAP GAY Year Overview ICAP GAY Year

360° Insight

Join ICAP to experience 3 major investment players over 3 months each.

ICAP x YOU

ICAP x YOU!

The ICAP is an innovative gap year program that offers a holistic insight into the M&A world.

Two women look at a laptop

ICAP x YOU!

Take the chance to learn from experienced professionals and benefit from an exclusive mentoring program.

A group of people

ICAP x YOU!

The gap year provides the opportunity to build a great network and connect with colleagues on different events.

the program

The ICAP is an innovative gap year program that offers a holistic insight into the M&A world. With just one application, you can complete three internships in three different companies within nine months, providing a wide range of insights into both the private equity and investment banking world as well as strategy consulting.

We are looking for motivated and talented interns for our Investment Career Accelerator Program with a focus on M&A, Strategy, Tech and Digital. As an ICAP Intern, you'll have the opportunity to work with experienced professionals on projects and challenges, you'll learn from leading industry experts, and you'll gain valuable insights and practical skills that will help you succeed in your future career. Along the way, you'll figure out what really inspires you.

9 months

in 3 different companies
+ Kick-off event & ICAP Summit
+ comprehensive mentoring program

Start date:

September 2026
Applications open until 15 May 2026

Locations

  • Berlin
  • Munich
  • Hamburg
  • London
  • Stockholm

the companies

The Tech Investment Bank for Global Minds

Carlsquare is a partner-led global technology investment bank. Our bespoke advisory services cover the whole company lifecycle, from growth equity and debt capital to M&A and IPO. We enable innovators and investors to take successful tech businesses to new heights. Founded in Hamburg at the turn of the millennium, we now span 12 key tech hubs, 8 countries and 2 continents—and have executed more than 600 transactions.

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Your tasks as Corporate Finance/M&A Intern

  • You will play a key role in projects from day one, experiencing investment banking firsthand
  • You will support the creation of presentations, teasers, investment memoranda and studies
  • You will research companies, markets, potential investors and targets
  • You will create industry, company and capital market analyses as well as company profiles
  • You will support due diligence activities
  • You will prepare financial analyses and company valuations

Contact

Denise Köhler
+49 1511 442 8144
denise.koehler@carlsquare.com

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After work event
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Entrepreneurial private equity for the software mid market

Founded by successful serial entrepreneurs and software specialists, FLEX Capital is a private equity fund investing in profitable and growing software and tech companies across the DACH region. FLEX combines deep sector expertise with an entrepreneurial mindset, working closely with founders and management teams to build sustainable value over the long term.

FLEX's portfolio includes 11 business platforms. A key differentiator is the firm's structure and its nearly 40 person in house team, which enables hands on support for portfolio companies beyond the traditional advisory model. AI enablement is embedded across both the investment process and operational value creation. FLEX is raising its third fund in 2026.

As a relatively young fund, FLEX offers a modern working environment with low hierarchies, direct access to decision makers, and a strong focus on responsibility and learning. This makes FLEX an ideal place for interns who want to understand how software companies are evaluated, scaled, and supported in practice.

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Your tasks as a Private Equity Intern

  • Deal Sourcing: You will analyze markets and sectors of the software industry in the DACH region to identify potential investment targets
  • You will support the investment process: Your work will include market and client analysis, preparation for and participation in meetings with experts, clients and partners, financial analysis and modeling, and contributions to investment committee memos
  • Portfolio work: You will support value generation activities (e.g. implementation of strategic and operational projects)
  • Weekly meeting preparation: You will review deal flow, analyze and present new investment opportunities and develop and present market analysis

Contact

Alina Kapustina, Talent Acquisition Manager
ak@flex.capital
+49 151 2120 6165

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People in a meeting room
People in a meeting room

Building Digital Leaders

OMMAX is a pan-European digital strategy consultancy shaping technology-, data-, and AI-powered businesses. Partnering with investors, corporates, and mid-sized companies, OMMAX delivers measurable impact through digital strategy and transformation across technology, data, and AI. Since 2011, OMMAX has delivered 3,000+ digital value creation projects, establishing itself as a trusted partner to private equity firms, global enterprises, and digital innovators.

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Your tasks as a Transaction Advisory & Strategy Intern

  • You support our Strategy Transaction Advisory team in conducting market analyses, industry and competitor studies, with a strong focus on Commercial and Digital Due Diligence.
  • You collaborate closely with managers and support them in transaction-related projects for international clients across various industries.
  • You collect, analyze, and interpret complex datasets to derive strategic recommendations for investors and businesses.
  • You contribute to the development of strategic concepts and support the design of digital business models.
  • You support the preparation of compelling reports, slide packs, and presentations for pitches, client projects, and investor analyses.
  • You take ownership of sub-projects and actively contribute to the further development of our advisory approaches.

Contact

Lisa Stibi, Lead Consultant People & Culture
+ 49 89 277813-273
join@ommax.de

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OMMAX Headquarter
talking to person

further details

Who are we looking for?

Successful candidates will have excellent analytical skills, attention to detail, and the ability to work well as part of a team. A Bachelor's or Master's degree in business administration, finance, economics or a related field is an advantage. Fluency in English and German is required and knowledge of an additional language can be of advantage. Ideally, you have already gained practical insights into the private equity world and have a sound knowledge of working with PowerPoint and Excel.

What do we offer?

Use the ICAP Gap Year for your personal and professional growth - we give you the chance to gain a variety of industry insights, to work on digital and tech topics and to take on responsibility right from the start. You will be part of exciting and motivated teams in young companies, work in great offices in attractive cities and you can participate in international and after work events. During the gap year, you  will benefit heavily from your personal mentors, and build your own investment network, laying the foundation for your career entry after graduation.

9 months

in 3 different companies
+ Kick-off event & ICAP Summit
+ comprehensive mentoring program

Start date:

September 2026
Applications open until 15 May 2026

Locations

  • Berlin
  • Munich
  • Hamburg
  • London
  • Stockholm

simple process

1 - First Interview

Are you a good fit? In a virtual meeting with the HR team we will get to know each other. We will test your soft skills and ask basic questions to get to find out more about you in an open conversation.

2 - Second Interview

Do you have the right skillset for the job? On the second round of interviews we will give you the chance to present two case studies to our expert. We will ask certain technical questions and test your hard skills.

3 - Decision

We will inform you about our decision in a personal call and will initiate the final process as well as a potential offer very quickly.

why icap?

Paulina Stuhlmacher

"All in one: You gain a holistic understanding of the investment business by experiencing buyer, seller, and advisor perspectives. Beyond the technical knowledge, the program sharpens your strategic thinking, builds industry-relevant skills, and sets you up for long-term career growth across the investment ecosystem.”

Paulina Stuhlmacher
Vice President Transactions & Strategy | OMMAX & ICAP Mentor
Paula Nebe

"What particularly distinguishes ICAP for me is the opportunity to gain insights into different areas such as private equity, investment banking, and strategy consulting within a short period of time, while working across various phases of the deal cycle. Through the rotating placements, one develops a holistic understanding of investment-related decision-making processes and learns to view strategic, financial, and operational questions in an integrated way. At the same time, participants are deeply embedded in the companies, take on responsibility early on, and work closely with experienced teams. This combination of in-depth professional exposure, international orientation, and hands-on responsibility makes the ICAP program an extremely valuable experience for both my professional and personal development.”

Paula Nebe
ICAP Intern
Nicolas Gruber

“It was the perfect opportunity to gain an in-depth insight and perspective from each of the three major parties involved in almost every M&A transaction in the private market - PE investor, consulting firm and investment bank - and a unique chance to build a considerable network within these firms that are involved in so many transactions in the European software market.”

Nicolas Gruber
Former ICAP Intern

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