Liz Griggs: Leading in Private Equity Through Grantchester Group

Women in the financial industry have long faced unique challenges; only 2.7% of CEOs at financial services firms are women. Despite this, a select few have risen above these obstacles to become true leaders in their field. Liz Griggs, Managing Partner & CEO of Grantchester Group, has had a remarkable career that spans entrepreneurship, executive leadership, and private equity. But her journey wasn't a straight path to the top. So, how did she do it?  

Liz's career began unexpectedly when she walked into a bank 37 years ago and asked for a job. "Walk down the street and ask the bank for a job. And that was the beginning of my career in business," she recalls. This bold move led her to work at Donaldson, Lufkin & Jenrette (DLJ) in Boston and New York City, where she was the only woman in the office. "It was like having 50 brothers. You know, they were great and really supported me," Liz says of her experience.

Her entrepreneurial journey took off when she co-founded One Call Medical, a company that transformed the workers' compensation industry. "We saw a fragmented industry that needed some help to reduce costs and manage care," she recalls. Starting from a basement in New Jersey with a small team, Liz and her team grew the company from zero to $200 million in revenue. "It was definitely a journey," she recalls. "We had many nights at the diner in New Jersey, pancakes and eggs for dinner at midnight. With your passion and commitment, along with a great team working with you, you’re ready to succeed."  

One Call Medical's success attracted the attention of private equity firms, and the company was ultimately sold for $2.3 billion to one of the largest global private equity firms. The company, now owned by Blackstone & KKR, reflects Liz's successful entrepreneurial prowess and leadership skills.

"If you have an idea and believe in it, people will back you. So, take the risk and do it," Liz advises entrepreneurs. She also highlights the importance of building a strong team: "You put people around you that are smarter than you. I always say you look really smart if you have smart people around you."

After the success of One Call Medical, Liz founded WorkWell Prevention & Care, where she served as Chairman & CEO, continuing to make an impact in the corporate healthcare and insurance industries. Under her guidance, the company became a leader in the corporate healthcare and insurance industries. However, her desire to make a broader impact led her to establish Grantchester Group, a private equity firm focused on investing in electrification, energy storage, infrastructure, telehealth, and AI-related platform companies.

Grantchester Group is an alternative asset manager in private equity that provides growth capital to mature companies looking to expand, restructure operations, enter new markets, or finance significant acquisitions. The firm focuses on mobility, clean energy, cybersecurity, and healthcare sectors. It actively invests in and operates these companies, introducing new technologies, innovative products, and strategic partnerships to enhance their value.

Liz has assembled a team of successful CEOs and senior executives with track records of building highly profitable public and private companies with enterprise values between $200 million and $2.3 billion. These executives share her vision of driving growth and operational improvements in their portfolio companies.

"At this stage in my career, I've been on a team, then I was a coach, and now I'm the owner," Liz explains. "For me, it's about helping these coaches with their teams and providing them the resources to build great teams."

The firm offers a range of services, including organizing and developing investment syndicates for university endowments, mentoring and providing investment support through established private equity management companies, recruiting and building world-class fund management teams with a focus on women and minority control, and supporting the fund management team launch process.

"At Grantchester Growth, we provide private equity solutions and investing to give so that we may support your efforts to exceed diversity expectations while helping to manage risks, returns, and liquidity," explains Liz.

The Grantchester Group's partnership with family office investors and university endowments has positioned the firm as a leader in impact investing, enabling it to provide its portfolio companies with valuable capital and strategic partners. Liz's commitment to diversity, equity, and inclusion in private equity shines through in the firm's initiatives, such as collaborating with Historically Black Colleges and Universities (HBCUs) to support alumni-founded businesses.

She actively supports and advocates for the advancement of women and underrepresented groups in the industry. "We as women, women of color, women of any background, we have to be given a chance because there are a lot of smart, talented people out there," she asserts. "Everyone deserves a chance."

Women still face challenges in the private equity industry; Liz acknowledges the male-dominated nature of the field but remains determined. 'You've got to get out there and not be afraid to be the only one,' she asserts. Liz's message is clear: women must embrace their unique position, stand tall, and confidently make their mark in the industry. "When I go to a conference, I'm often the only woman in the room. But you know, honestly, it doesn't bother me. We need to do more to get women at the top in finance and private equity."  

Liz believes that women who have achieved success in the industry have a responsibility to help others. "Once you're successful and you've done it, you've got to help. You can't just keep building companies and not helping others," she insists. "I decided that is not my role in life now. I want to go out saying I did something to help others." Her own journey serves as an inspiration, proving that success is achievable despite the challenges that may come with being a woman in a male-dominated field.

Liz's advice to women entrepreneurs seeking investment to scale their businesses is to focus on building a strong team and securing capital. "If you want to go big like I did, you really need to bring in capital," she explains. "Everything's about capital after you build a good team because you need that to scale the business to one level, then raise more capital to reach the next level."

Throughout her career, Liz Griggs has shown a strong commitment to excellence, innovation, and empowering others. Her journey from entrepreneur to private equity leader serves as an inspiration to business leaders, especially women and minorities. With Grantchester Group, she continues to make a significant impact by investing in cutting-edge industries and supporting diversity in the private equity landscape.