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Investment Analyst - PIPEs

Dark Alpha Capital LLC
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Investment Analyst – PIPE Transactions

Firm: Dark Alpha Capital LLC
Location: Remote / Global
Compensation: 100% Performance-Based (Success Fee Only)
Reports To: Vice President – PIPE Transactions

About Dark Alpha Capital

Dark Alpha Capital (“DAC”) is a Delaware-based independent sponsor and private equity firm investing across business services, industrial services, healthcare, manufacturing, and aerospace & defense.

We focus on roll-ups, leveraged buyouts (LBOs), and PIPE transactions in the lower middle market. Our team blends private equity discipline with public markets strategy, deploying capital into structured investments that create value across both public and private companies.

Role Summary

The Investment Analyst (PIPE Transactions) will support the Vice President and Managing Partner in identifying, analyzing, and executing PIPE and structured equity/debt transactions.
This role involves financial analysis, research, valuation, and due diligence, as well as preparation of investor materials and outreach coordination.

This is a performance-based position, ideal for analytically strong candidates who want to learn the mechanics of capital raising, deal structuring, and investor relations in the PIPE space while participating in transaction economics.

Key Responsibilities

1. Research & Screening

  • Source and screen public and microcap companies with capital needs suitable for PIPE, convertible note, or preferred equity financings.
  • Analyze SEC filings (10-K, 10-Q, 8-K, S-1, and proxy statements) to assess liquidity, capital structure, and financing history.
  • Track capital market activity, identify refinancing opportunities, and prepare issuer summaries.
  • Maintain databases of potential issuers, sector trends, and investor preferences.

2. Financial Analysis

  • Build and maintain financial models, including pro forma capitalization tables, debt/equity waterfalls, and conversion scenarios.
  • Conduct valuation benchmarking and comparable transaction analysis.
  • Support deal structuring by modeling various terms (convertible rates, warrants, anti-dilution mechanics, etc.).
  • Prepare deal summaries and quantitative exhibits for internal and external presentations.

3. Due Diligence & Documentation

  • Assist in preparing teasers, term sheets, and offering memoranda.
  • Coordinate data collection and diligence with company management, counsel, and third-party advisors.
  • Track compliance documents and support transaction closings.
  • Maintain organized records of deal materials and version control across the pipeline.

4. Investor Outreach Support

  • Prepare investor lists and segmentation for capital raising campaigns.
  • Draft initial outreach emails, deal summaries, and investor update materials.
  • Support investor follow-up coordination under the guidance of the Vice President.
  • Maintain CRM data and ensure accurate tracking of investor interactions and commitments.

5. Internal Collaboration

  • Work closely with the Vice President and Managing Partner to ensure timely execution of each transaction.
  • Contribute to DAC’s PIPE playbook, improving sourcing, screening, and diligence efficiency.
  • Participate in weekly deal meetings, pipeline reviews, and post-mortem sessions to improve processes.

Qualifications

  • 1–4 years of experience in investment banking, equity research, private equity, venture capital, or corporate finance.
  • Solid understanding of financial modeling, valuation, and capital markets.
  • Experience reviewing SEC filings and corporate disclosures.
  • Strong Excel and PowerPoint skills; comfort with databases like PitchBook, Capital IQ, or Bloomberg a plus.
  • Excellent written and verbal communication skills.
  • Self-motivated, detail-oriented, and capable of working autonomously in a remote setting.
  • Entrepreneurial mindset with a desire to grow into a senior capital markets role.

Compensation

  • Success Fee: Based on closed transactions or capital raised, allocated per deal.
  • Performance Bonus: Deal-specific economics tied to analytical contribution and execution quality.
  • No Base Salary: This role is 100% performance-based, suited to candidates who thrive in entrepreneurial, results-driven environments.

Why Join Dark Alpha Capital

  • Direct exposure to PIPE and structured equity transactions from origination to close.
  • Work alongside experienced capital markets professionals in a lean, high-performing team.
  • Participate in real deal economics and develop institutional-level transaction experience.
  • Build a long-term career path within DAC’s expanding public and private investment platform.