Graduate Investment Analyst

Circeus 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.

We 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.

The Role

This is a graduate seat on the team that sources, evaluates and executes the acquisitions that bring new software businesses into Circeus. You will be based in London and work day to day with the deal team. If you would rather sit in Milan, that is open to you at the start or later on.

You will work on live transactions rather than training exercises. From your first weeks you will screen targets, build the models behind them, and take a defined piece of diligence to a deadline. The team is deliberately small and runs alongside AI agents that handle screening, data extraction and first-pass modelling, which means the work left to you is judgement: what the numbers imply, which issues change price or structure, and how a target actually makes money.

Alongside deal work, you will help prepare investor relations and fundraising material, turning portfolio performance into the numbers and narrative our investors see.

It suits a final-year student or recent graduate with internship experience in banking, private equity, equity research, transaction services or strategy consulting, who wants ownership earlier than a graduate programme will give them, and who is as interested in how a software business runs as in how it is valued.

What You'll Do

Screen inbound and proprietary deal flow against our acquisition criteria
Build valuation and operating models across live opportunities, and keep them current as diligence lands
Support financial, legal, commercial and technical diligence workstreams, tracking open items to one timeline
Analyse SaaS economics, including net revenue retention, churn, cohort behaviour and revenue quality
Research verticals and map the competitive landscape around targets
Draft sections of screening and investment memos for the investment committee
Prepare investor relations and fundraising material, including portfolio reporting and investor updates
Use AI tools to compress research, data extraction and first-draft analysis, and improve the workflow you inherit
Maintain pipeline data across sourcing, diligence and execution stages

What We're Looking For

Recent graduate or final-year student with a strong academic record in a numerate or analytical discipline
Internship or placement experience in M&A, private equity, leveraged finance, equity research, transaction services or strategy consulting
Financial modelling and valuation fundamentals you can demonstrate, not just list
Clear, concise written analysis that stands on its own in front of decision-makers
Commercial curiosity and genuine interest in how B2B software businesses make money
Highly organised, with the instinct to structure messy inputs before being asked
Fluent English, written and spoken
Right to work in Italy or the UK

Nice to Have

Exposure to SaaS or vertical software, through an internship, coverage or personal research
Demonstrated use of AI in your own research or analysis workflow
SQL or Python for data analysis
Track record in a competitive environment, academic, sporting or otherwise

Why Circeus

Deal exposure across a portfolio of software businesses rather than a single sector mandate
Live transaction work and direct access to decision-makers from your first months
AI applied to real commercial problems, with impact you can measure
Direct collaboration with our central AI team
One team across London, Milan and Sarajevo, operating as a single system
Competitive compensation and a clear route to greater deal responsibility

If you're excited by acquisitions, software and AI, we'd love to hear from you.

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