Goldman Sachs partner Ryan Nolan is departing the bank after 13 years to join merchant bank BDT & MSD Partners, where he will co-lead the technology practice alongside former Kleiner Perkins partner Juliet de Baubigny.
Nolan, who served as global co-head of software investment banking in Goldman's technology, media and telecommunications group, has been a key advisor to artificial intelligence company OpenAI and is currently involved in its planned restructuring.
The move comes as BDT & MSD Partners, chaired by Dell founder Michael Dell, expands its focus on providing tailored advice and investment opportunities to technology founders. The firm was formed through a 2023 merger between merchant bank BDT and MSD Partners.
Gregg Lemkau, co-chief executive officer of BDT & MSD Partners alongside Byron Trott, highlighted the firm's unique value proposition to technology entrepreneurs. "We tell founders: We can give you trusted advice on your business, give you capital to invest in your business and give you options to diversify your wealth," said Lemkau.
During his tenure at Goldman Sachs, which began in 2012, Nolan advised on more than 20 initial public offerings, including Monday.com and GitLab. He also played crucial roles in major technology deals, such as VMware's $69 billion sale to Broadcom and Canva's recent equity raise.
Following Nolan's departure, Goldman Sachs has promoted Jung Min and Barry O'Brien as global co-heads of the technology, media and telecommunications group, while tech-focused banker Jane Dunlevie has been elevated to chief operating officer of the group.
BDT & MSD Partners is also launching a new fund focused on investments in fast-growing, founder-led technology companies. The fund is expected to receive backing from Dell and other prominent families and founders within the firm's network.
De Baubigny, who will work alongside Nolan in leading the technology practice, emphasised their complementary expertise, stating: "Our skill set is so complementary, but we approach the founder in the same way
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