Merchant banking Internship at IB?

Hi all currently a soph at semi target shooting for IB. Recently got an offer to be a "merchant capital" intern at a boutique IB shop for the spring (during the school year). Is this role similar to an IB internship? Is what I learn/do here valuable for IB? How will this internship be perceived in the eyes of recruiters, and should I take this internship over a BB PWM? I am just confused on exactly what "Merchant banking" is and how is compares to traditional IB.

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