GrowthCurve Capital, a New York-based private equity firm led by Goldman Sachs Merchant Banking alum Sumit Rajpal, raised $1.4 billion for its inaugural fund with a focus on businesses at the intersection of AI, digital transformation and human capital.
GrowthCurve Capital Partners I is focused on data-rich, control-oriented private equity investments primarily across the technology and information services, healthcare and financial services sectors.
“In our view, our control-oriented investing strategy is particularly well-positioned in this environment of rapidly evolving technological innovation,” said Rajpal, CEO and founder of the firm that launched in 2021. “We believe GrowthCurve’s approach is well-suited to empowering our portfolio companies to drive growth by unlocking the value of their data. Combining the right technologies and tools across the AI technology stack, along with comprehensive investments in talent, are key to achieving our mission of building focused and sustainable growth in our companies.”
Prior to GrowthCurve, Rajpal had a two-decade career at Goldman Sachs. Most recently he was the global co-head of the merchant banking division and the global co-head of the corporate equity investing businesses. Notably he served as the co-CIO of Goldman Sach’s flagship private equity funds, including West Street Capital Partners VII. Before that he was head of Goldman Sachs MBD’s global Financial and Information Services investing business and also led the initial build-out of Goldman Sachs digital consumer platform, Marcus by Goldman Sachs. After retiring in early 2020, he served as a senior policy advisor to the SEC Chairman on market areas impacted by COVID-19-, including co-authoring a report on U.S. credit market inter-connectedness.
To date, GrowthCurve has invested approximately 50% of its capital commitments. The investments include Mistplay, a leading game discovery and loyalty platform for mobile games; Brightway Insurance, a leading personal lines focused insurance franchisor; Revecore, a leading provider of revenue integrity and complex claims solutions for health systems; and Netchex, a leading provider of cloud-based human capital management software solutions.
“I am especially proud of our team, our platform, and our portfolio companies as we mark this important milestone for the firm,” added Rajpal.
Rajpal boasts a diverse team of over 25 professionals, in addition to an accomplished strategic advisory board with deep industry experience.
“It is a real honor to have received such strong support from a respected group of limited partners who believe in our differentiated strategy and the strength of our team. This is just the beginning of our journey, and we look forward to delivering on the trust and confidence our investors have placed in us,” said Susan Soh, chief of capital formation and investor relations at GrowthCurve.
Soh had been partner, chief of strategy and capital development at Two Sigma, where she led the growth initiative and capital development efforts for their private investment activities. She was also responsible for the marketing process, strategy and leading the team in new business development.