Torch Partners (London) - Culture and Overview

Given that Torch seems to be hiring again and tends to run lean, I thought I’d share an honest perspective for the benefit of people interviewing there. Happy to hear other's people story too.

For context: I previously worked there and have seen things from the inside. I won’t disclose more for anonymity.

Dealflow

Dealflow is not bad but it ain't a deal machine, mostly LMM deals  (20 - 100m EV) with every now and then some bigger deal mostly in Digital infra:

• Strongest vertical is digital infrastructure often alongside co-advisors
• Some lower/mid-market software deals
• Consumer software hasn’t been particularly active recently
• Fintech had good momentum historically, but the main MD driving that vertical has left. A new MD has joined but yet to deliver so that’s a question mark

Overall, you will see some live processes and relatively decent mandates, but be expected to be constantly pitching anyway.

Culture

I’ll keep this short: In my experience, culture was the biggest challenge.

Externally, they portray themselves as the cool, modern boutique. In reality, it’s the opposite. And there is nothing worse than the external image sometimes feels different from the internal experience.

Culture is heavily driven by the CEO, who is a very intense, workaholic personality. He genuinely believes:

• People should effectively be working around the clock
• “The worst enemy of a deal is time"
• Everything should have been done yesterday

He does not switch off (even on holiday, as he logs in at 4am his time to jump on useless weekly calls getting mocked by other MDs) and assumes nobody else should either. 

This creates unnecessary pressure, rushed work, stress and avoidable mistakes across the team (from Directors downward)

Micromanagement is real:

• He is on every deal, creating bottlenecks as he needs to approve everything and further stress for him
• Wants to be copied on almost every email (even junior-to-junior operational matters, don't ask me why)
• Comments on everything (yup, logos, alignments, folder naming, email fonts, you name it)
• Delegation trust is limited - as you can imagine from the above points

Interactions can sometimes become tense during high-pressure situations. Minor issues that in most firms would be handled calmly (e.g. a VDR addition or a document print) can trigger disproportionate reactions. There is a somewhat unusual physical intensity when he gets frustrated (pacing, raised voice, abrupt tone shifts) that honestly becomes almost comical after a while. Juniors often find themselves being shouted at for things that objectively are small.

Cherry on the cake: There have also been moments where he publicly quizzes MDs or seniors on the floor about sector knowledge in a way that feels awkward and theatrical.

Face time is absolutely a thing despite CEO denying it:

• 5/5 days in the office
• Sitting on the same floor as him = good optics
• Different floor = less visibility
• People (including Directors) rarely leave before he does as they fear it
• If work is done early, some literally sneak out through the back entrance to avoid being seen leaving “too early.”

The symbolic “cool CEO” gesture is opening a non-alcoholic office beer at 7pm on a Friday which is somehow meant to signal progressive leadership.

Hours

Despite relatively mild dealflow and smaller deal size, hours are heavy / in-line with BBs.

Reasons:

• Everything deserves a pitch.
• Every model must be ultra granular even when it adds zero decision-making value leading to 400-line models for just a tiny revenue line because “detail is good.”

Because everything must be done “by yesterday,” expect frequent weekend work and regular friday dinner in the office as leaving ~10pm on a Friday is considered somewhat normal.

It’s not necessarily driven by live deal intensity it’s driven by internal pressure.

Churn

To anyone's surprise: High

You can see it on LinkedIn, though not everyone updates publicly. Rough estimate: There appeared to be relatively high turnover among junior staff alone with a total junior team of ~15 people max.

What to consider if you are in the process

• If you thrive in high-pressure, high-control environments and don’t mind constant oversight, you may survive altho I am happy to bet you won't
• If you value autonomy, trust, and rational workflow pacing think carefully and consider other options
• The technical reps are there
• The culture trade-off is real, not sure about the brand recognition and the deal flow 

Happy to help any of you in the process (within reason)