Investment Analyst
Pubblicato il 20-09-2026 - Altro in Milano
Location: Milan, Italy
About Circeus Circeus is an AI-native holding that acquires and scales mission-critical B2B software businesses globally. We have raised $220m+ from leading global institutional investors and serve 200,000+ businesses across diverse verticals, focusing on high-retention, deeply embedded software. Our model: acquire high-quality SaaS companies and accelerate their growth through a centralised AI platform, driving both revenue expansion and operational efficiency. We operate as long-term owners, continuously improving products through applied AI.
The Role We are hiring an Investment Analyst in Milan to work across the full acquisition cycle, from first contact with a founder to signing and integration. You will build the analysis that decisions are made on: market and competitive work, financial models, diligence findings, and the investment memos that go to our investment committee. This is a deal seat inside an operating company, not a fund. The businesses you underwrite become businesses we run, so the quality of your diligence shows up in the portfolio for years. You will spend as much time on retention curves, pricing, and product depth as on multiples, and you will stay close to assets after close rather than handing them to someone else. AI is not a side interest in this role. You will be expected to build your own screening, extraction, and analysis workflows with AI tooling, and to underwrite what AI can do to a target's product and cost base. You will work directly with the M&A; leadership team, our operators, and our central AI team, with regular exposure to founders and their advisers. It suits someone who wants ownership early,
is comfortable reaching a view on incomplete information, and would rather run their own workstream than sit third on a deal team.
What You'll Do Source and qualify acquisition targets through outbound origination, broker relationships, and proprietary screening
Build and own financial models covering valuation, returns, cohort retention, and post-acquisition scenarios
Run commercial, financial, and product diligence, and pull the findings into a clear view on the asset
Write investment memos and screening notes that stand up to challenge at committee
Assess where our central AI platform can expand a target's product and margin, and build that into the underwriting case
Build AI-assisted workflows for origination, data extraction, and diligence, and leave the process better than you found it
Prepare valuation ranges and support structuring, LOIs, and negotiation with founders and advisers
Coordinate external advisers and internal workstreams to keep deals moving to timetable
Track portfolio performance against the original underwriting case and flag divergence early
What We're Looking For One to three years in M&A;, investment banking, private equity, transaction services, or corporate development
Strong financial modelling and valuation skills, built from scratch rather than from templates
Ability to read a SaaS business quickly: recurring revenue quality, churn, expansion, gross margin, and cash conversion
Practical fluency with AI tools in your own workflow, with concrete examples of what you have automated or accelerated
Clear written analysis and the confidence to defend a recommendation concisely
High attention to detail under deal timelines, with sound judgement on what matters and what does not
Fluent English and Italian, written and spoken
Right to work in Italy
Nice to Have Exposure to software, technology, or vertical SaaS transactions
Experience in origination or direct founder outreach rather than process-only deals
Working knowledge of SQL, Python, or data tooling for diligence and screening
Experience building AI agents, scripts, or automations without engineering support
Post-close integration or value creation experience
Additional European languages
Why Circeus Exposure to a portfolio of software businesses rather than a single asset
Deal responsibility and senior access from your first months, not after two years
AI applied to real commercial problems, with impact you can measure
Direct collaboration with our central AI team and portfolio operators
One team across London, Milan and Sarajevo, operating as a single system
Competitive compensation and a clear route to increased deal ownership
If you're ready to take ownership early and work across the full acquisition lifecycle, we'd love to hear from you.
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