former co-head of the service provider financial institution of
Goldman Sachs Group Inc.,
is launching a brand new private-equity agency concentrating on corporations which might be sitting on beneficial troves of information that can be utilized extra successfully to spur progress.
The brand new agency, to be referred to as GrowthCurve Capital, will deal with corporations within the know-how, healthcare and financial- and information-services sectors and goal offers with an enterprise worth between $500 million and $1 billion, agency officers mentioned.
Mr. Rajpal, who left Goldman in February 2020 after a 20-year profession on the funding financial institution, has employed 19 individuals for the brand new agency together with three seasoned traders who will lead offers in every sector.
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Sanjay Swani, a veteran of private-equity corporations Tailwind Capital and Welsh, Carson, Anderson & Stowe, would be the agency’s chief funding strategist and lead its know-how investments. Matthew Popper, beforehand a managing director in Goldman’s service provider financial institution, will oversee investments in monetary and data companies. And Vignesh Aier, previously at private-equity agency New Mountain Capital, will run healthcare investing.
Mr. Rajpal has additionally recruited 4 working executives with specialties in digital transformation, synthetic intelligence, information analytics and human capital. In contrast to at most buyout outlets the place operational specialists are sometimes introduced in to judge technique and enhance corporations after they’ve been acquired, these executives will sit on GrowthCurve’s funding committee and consider offers when they’re first proposed.
Agency officers mentioned the working companions will assist GrowthCurve establish corporations in possession of beneficial information units that haven’t been tapped due to a lack of understanding, technological know-how or monetary assets.
“Now could be the best time for personal fairness to embrace the potential of information analytics and AI,” Mr. Rajpal mentioned in an interview. Hedge funds and the fintech trade have extra readily adopted these disciplines, he mentioned.
Mr. Rajpal joined Goldman in 2000 and was named a associate in 2010 at age 35. As head of the service provider financial institution’s financial- and information-services investing enterprise, he led a few of its top-returning offers, together with an funding in credit-reporting bureau
that produced greater than $1 billion in revenue.
He grew to become co-head of the service provider financial institution in 2019.
Mr. Rajpal additionally had an early hand in constructing Goldman’s client financial institution, generally known as Marcus, pitching then-Chief Govt
on the thought in 2014.
Write to Miriam Gottfried at Miriam.Gottfried@wsj.com
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Appeared within the Could 24, 2021, print version as ‘Goldman Veteran Launches Buyout Fund.’