Achieve Partners has made an investment in Alchemy, an internship infrastructure provider that helps employers launch and scale internship programs, through a combination with Ease Learning, a portfolio company in the firm’s Workforce I fund.
The transaction expands Achieve’s Workforce Fund strategy beyond apprenticeships and into internships, complementing the firm’s recently announced $450 million Workforce II fund.
Alchemy operates an internship services platform designed to address a shortage of quality internship opportunities in the U.S. The company provides operational support for employers, including recruitment, candidate matching, supervision, payroll administration, compliance and employer-of-record services. By acting as an intermediary between employers, colleges and students, Alchemy aims to reduce the administrative burden that often limits companies’ ability to offer internship programs at scale.