Location: Milan, ItalyÈ la persona giusta per questa possibilità? Si assicuri di leggere la descrizione completa qui sotto.About CirceusCirceus 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 RoleThis 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.A 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.It 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.What You'll DoScreen inbound and proprietary deal flow against our acquisition criteriaBuild and maintain valuation and operating models across live opportunitiesCoordinate financial, legal, commercial and technical diligence,



holding advisers and internal teams to one timelineConsolidate diligence findings and flag the issues that change price, structure or decisionAnalyse SaaS economics, including net revenue retention, churn, cohort behaviour and revenue qualityWrite screening and investment memos for the investment committeePrepare investor relations and fundraising material, including portfolio reporting and investor updatesUse AI tools to compress research, data extraction and first-draft analysisMaintain pipeline data across sourcing, diligence and execution stagesWhat We're Looking ForOne to three years in sell-side M&A, leveraged finance or equity research, or a strong internship record in those environmentsFinancial modelling and valuation skills built on live transactions rather than courseworkAbility to run several workstreams and external advisers to deadline with limited supervisionClear, concise written analysis that stands on its own in front of decision-makersCommercial judgement and genuine interest in how B2B software businesses make moneyFluent English, written and spokenHighly organised, xysqume with the instinct to structure messy inputs before being askedNice to HaveExposure to SaaS or vertical software, through deals, coverage or personal researchExperience alongside technical or product diligence, not just financial workstreamsItalian alongside EnglishDemonstrated use of AI in your own research, diligence or reporting workflowSQL or Python for data analysisWhy CirceusDeal exposure across a portfolio of software businesses rather than a single sector mandateOwnership of workstreams from first look to signing, with direct access to decision-makersAI applied to real commercial problems, with impact you can measureDirect collaboration with our central AI teamOne team across London, Milan and Sarajevo, operating as a single systemCompetitive compensation and a clear route to greater deal responsibilityLet's shape the future of AI-driven software together — apply now to join our team!

📌 Investment Analyst (Medolago)
🏢 Circeus
📍 Medolago