Former Goldman executive Sumit Rajpal launches buyout firm
Sumit Rajpal, former co-director of the investment bank of the Goldman Sachs group Inc.,
launches new private equity firm targeting companies that rely on valuable amounts of data that can be used more effectively to drive growth.
The new company, called GrowthCurve Capital, will focus on companies in the technology, healthcare, and financial and information services industries and target deals with an enterprise value between $ 500 million and $ 1 billion. dollars, company officials said.
Mr. Rajpal, who left Goldman in February 2020 after a 20-year career in investment banking, has hired 19 people for the new company, including three seasoned investors who will lead deals in each industry.
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Sanjay Swani, a veteran of private equity firms Tailwind Capital and Welsh, Carson, Anderson & Stowe, will be the company’s chief investment strategist and lead its technology investments. Matthew Popper, previously managing director of Goldman’s merchant bank, will oversee investments in financial and information services. And Vignesh Aier, formerly with private equity firm New Mountain Capital, will lead the healthcare investment.
Mr. Rajpal has also recruited four operational executives specializing in digital transformation, artificial intelligence, data analysis and human capital. Unlike most buyout stores where operational specialists are often called upon to assess strategy and improve businesses after they are acquired, these executives will sit on GrowthCurve’s investment committee and assess deals when they are first proposed. time.
Firm officials said operational partners will help GrowthCurve identify companies with valuable data sets that have not been exploited due to lack of awareness, technological know-how or financial resources.
“Now is the time for private equity to harness the potential of data analytics and AI,” Rajpal said in an interview. Hedge funds and the fintech industry have more readily embraced these disciplines, he said.
Mr. Rajpal joined Goldman in 2000 and was appointed a partner in 2010 at the age of 35. As head of the merchant bank’s financial and information services investment division, he led some of its most profitable operations, including an investment in the credit bureau TransUnion which has produces over $ 1 billion in profits.
He became co-director of the investment bank in 2019.
Mr. Rajpal was also involved early on in the creation of Goldman’s consumer bank, known as Marcus, presenting the idea in 2014 to Lloyd Blankfein, then managing director.
Write to Miriam Gottfried at [email protected]
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Appeared in the print edition of May 24, 2021 under the title “Goldman Veteran Lance Buyout Fund”.