2025 Summer Analyst

JMI Equity

United States
Posted on January 9, 2024
About JMI
JMI Equity is a growth equity firm focused on investing in leading software companies. For over three decades, JMI has partnered with exceptional founders, entrepreneurs, and management teams at high-growth software companies to provide flexible capital, industry expertise, and operational support to build businesses of enduring value. To date, JMI has invested in over 180 software businesses in North America and Europe and completed over 115 exits. Today, the Firm’s portfolio of industry-leading cloud software companies represents $8 billion in combined revenue, $65 billion in aggregate enterprise value, and over 34,000 jobs. For more information,

JMI is an active investor. Our portfolio companies have distinguished themselves with proven business models and we partner with management teams to build industry leaders. We take seats on the boards of our portfolio companies and assist with strategic planning, executive recruiting, capital allocation, acquisitions, and liquidity options.  Typical JMI investments range from $25 million to $250 million.
We are committed to helping our companies succeed and have invested successfully at all stages in the business lifecycle. We provide capital for growth, recapitalizations, acquisitions, and buyouts.

JMI’s investment team currently consists of 30+ investment professionals located in Baltimore/DC and San Diego.  In addition, JMI has an Operating Team that works closely with the investment teams and management teams to drive operational best practices at our portfolio companies.

Position: 2025 Summer Analyst
Location: San Diego, CA / Washington D.C.

The JMI Summer Analyst program is an immersive 8-week experience designed to build the skillset of a software growth equity investor, with an emphasis on sourcing. Summer Analysts will also have exposure to deal due diligence and portfolio company operations. Top performers will have an opportunity to join JMI in a full-time analyst capacity after graduation.

Summer Analysts will focus on and learn the following concepts:
  • Investment framework for growth software businesses
  • Fundamentals of sourcing, including:
  • Identifying JMI investment opportunities
  • Tactics for breaking into companies
  • Deal creation with entrepreneurs and CEOs
  • Strategic applications of sourcing:
  • Company, product, market, and financial due diligence
  • Market coverage
  • Conferences by industry focus
  • Broader thematic research and thesis-building
  • Financial Diligence
  • Data packs
  • Mini- model
JMI work ebbs and flows and no two days look the same. The same will be true for a summer analyst at JMI. The summer program will be organized to introduce a new concept each week for throughout the  internship. The concept model provides a focus area for the week while still allowing for the on-demand needs of JMI’s broader sourcing and deal efforts. In addition to the concepts learned each week, Summer Analysts will have a Capstone Project which is larger in scope and draws on concepts learned over the course of the summer.

Week 1 : Intro to Growth Equity, Software, and JMI
Week 2: Sourcing Engine, Prospecting, Thematic Sourcing
Week 3: Diligence and Market Work, JMI Portfolio Review
Week 4: Diligence and Financial Diligence
Week 5: Data Packs and SaaS Analytics
Week 6: Basic Finance / Transaction Topics
Week 7: Introduction to Modeling, Portfolio Value Creation
Week 8: Returns and Exits

Ideal qualifications include:
  • Entering senior year at the time of internship (Class of 2026)
  • Experience or interest in the software and tech space
  • Ability to build and maintain relationships; enjoy building a network of contacts
  • A balanced ego and desire to join a highly collaborative, team-oriented investment team
  • Exceptional academic achievement; tracking to an undergraduate degree from a top academic institution
  • Strong written and oral communication skills
  • Self-starter with the ability to operate effectively with limited supervision; strong organizational skills
  • Highly collaborative team player; likes winning as a team
  • Willing to relocate for the summer
It is expected that the annualized base pay range for this role will be $100,000 for the term of the summer program.
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