23 set - Milano
Circeus
ppCirceus is an AI-native holding company that acquires and evolves mission-critical software for the AI era. Through a centralised AI platform deployed across our portfolio, we expand software from systems of record into systems of action. /ppWe have raised $220m+ from leading global institutional investors and serve 250,000+ businesses worldwide, focusing on high-retention, deeply embedded software that powers the everyday economy. We operate as long-term owners, bringing the benefits of innovation and AI to the real economy. /ph3The Role /h3pThis is an analyst seat on the team that sources, evaluates and executes the acquisitions that bring new software businesses into Circeus, based in our Milan office. You will work on live transactions from first look to signing, building the analysis that decides whether we pursue a target and on what terms. /ppA large part of the job is holding diligence together. You will run the financial, legal, commercial and technical workstreams to a single timeline, keep advisers moving, and pull their findings into one view that shows what matters for price, structure and pace. Alongside deal work, you will help prepare investor relations and fundraising material, translating portfolio performance into the numbers and narrative our investors see. /ppIt suits someone one to three years out of a sell-side seat who wants ownership earlier than a coverage team will give them, and who is as interested in how a software business actually runs as in how it is valued. Strong internship track records are welcome in place of full-time experience. /ph3What You'll Do /h3ulliScreen inbound and proprietary deal flow against our acquisition criteria /liliBuild and maintain valuation and operating models across live opportunities /liliCoordinate financial, legal, commercial and technical diligence, holding advisers and internal teams to one timeline /liliConsolidate diligence findings and flag the issues that change price,
structure or decision /liliAnalyse SaaS economics, including net revenue retention, churn, cohort behaviour and revenue quality /liliWrite screening and investment memos for the investment committee /liliPrepare investor relations and fundraising material, including portfolio reporting and investor updates /liliUse AI tools to compress research, data extraction and first-draft analysis /liliMaintain pipeline data across sourcing, diligence and execution stages /li /ulh3What We’re Looking For /h3ulliOne to three years in sell-side MA, leveraged finance or equity research, or a strong internship record in those environments /liliFinancial modelling and valuation skills built on live transactions rather than coursework /liliAbility to run several workstreams and external advisers to deadline with limited supervision /liliClear, concise written analysis that stands on its own in front of decision-makers /liliCommercial judgement and genuine interest in how B2B software businesses make money /liliFluent English, written and spoken /liliHighly organised, with the instinct to structure messy inputs before being asked /li /ulh3Nice to Have /h3ulliExposure to SaaS or vertical software, through deals, coverage or personal research /liliExperience alongside technical or product diligence, not just financial workstreams /liliDemonstrated use of AI in your own research, diligence or reporting workflow /liliSQL or Python for data analysis /li /ulh3Why Circeus /h3ulliDeal exposure across a portfolio of software businesses rather than a single sector mandate /liliOwnership of workstreams from first look to signing, with direct access to decision-makers /liliAI applied to real commercial problems, with impact you can measure /liliDirect collaboration with our central AI team /liliOne team across London, Milan and Sarajevo, operating as a single system /liliCompetitive compensation and a clear route to greater deal responsibility /li /ul /p #J-18808-Ljbffr
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