The Forge
An investment workflow platform that streamlines collaboration and reduces inefficiency for private equity teams
UMSI X ROSS FinTech Challenge
Jan 2024 - Feb 2024
UX Designer
Figma
Overview
This project was part of the FinTech Challenge jointly organized by the University of Michigan School of Information and Ross School of Business. Over three weeks, I led the design effort in a cross-functional team of business and engineering students. I focused on research and prototyping to address inefficiencies in private equity workflows. Our solution, The Forge, was recognized as one of the top entries, placing 3rd out of 25 teams.
Background
Hey, before diving into the case study, let’s meet our friend Harper — a private equity analyst in a big firm.
Like many of her peers, Harper routinely works 60–100 hours per week to move deals forward
Over 40% of her time on each deal is spent on emails and admin, not analysis
You may start to wonder: why does it take so much effort just to move one deal forward?
Let’s take a look at what the internal workflow actually looks like.
Screenshot of the internal workflow in investment company
Already feel dizzy? For Harper, this isn’t an exception, it’s the norm. To push even a single deal across the finish line, she needs to:
Problem Statement
The workflow behind private equity deals is fragmented and inefficient, forcing analysts to spend excessive time on admin instead of analysis.
User Research
Hearing it straight from the analysts
To go beyond numbers, we spoke with 6 analysts and associates across different firms. They didn’t hold back. Their stories painted a picture of constant firefighting, hidden inefficiencies, and wasted effort.
I synthesized these insights into four recurring frustrations
Frustration #1
Fragmented processes across multiple tools and stakeholders
Frustration #2
Lack of visibility into deal stages, forcing late-night updates
Frustration #3
Repetitive rework such as recreating financial models
Frustration #4
Knowledge trapped in individual workflows, disappearing with turnover
Design Challenge
How might we turn invisible, fragmented workflows into visible, role-specific flows that scale?
Competitive Analysis
Testing the market
We analyzed seven tools commonly used in investment firms, from modeling platforms to portfolio managers, using our four pain points as the evaluation criteria.
Conclusion: Analysts weren’t struggling because they lacked tools — they were struggling because their tools didn’t connect.
Define the Direction
Identifying target users
What guided our design decisions
To solve the design challenge, we defined four design decisions grounded in user research and market analysis.
Design Decision #1
Clarity & Visibility
One source of truth with always-updated deal stages and documents.
Design Decision #2
Efficiency
Provide standardized templates and workflows to minimize rework and speed up onboarding.
Design Decision #3
Speed
Enable instant access to the right information through AI assistance and streamlined search.
Solution
Role-based dashboards that surface the right insights for the right users
Investment co-pilot:
An AI Chatbot Guide
Easing information overload
Unified firm-wide deal database
Reduced unnecessary data compartmentalization
Centralized documents and task management with clear ownership
Standardized templates and shared assumptions to cut rework
Reflection
Understanding the Problem Space Before Jumping to Solutions
Since this was my first time designing in private equity, I had to resist the urge to design right away and instead spend time mapping the problem space. Through interviews and guided walkthroughs of analyst workflows, I learned how critical it is to immerse in users’ world before shaping solutions. That upfront investment in empathy and domain knowledge allowed us to identify pain points that were structural, not just surface-level
Building Trust Through Small but Critical Details
This project also reminded me that workflow platforms live or die on the details. Features like clear ownership, visible priorities, and version control may seem small, but they directly reduce friction and prevent costly miscommunication. In a high-stakes environment, trust is built not by adding more features, but by making the essentials seamless and reliable.
Meet the Team
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© 2025 Jiayi Huang.