Two months ago, I launched a search fund with the intention to buy and operate one business in Southern California after spending the last 5+ years in investment banking. Here is how it’s gone so far 👇 For starters, I am pursuing a “self-funded search”, meaning I am using my own personal savings to fund living costs, as well expenses related to due diligence, travel, etc.

I’ll plan to raise debt and equity capital for a deal once I have a signed LOI with a potential company.

Yesterday, I attended the Entrepreneurship Through Acquisition Conference at Harvard Business School.

A few quick highlights from the panel discussions:

- Good searchers know no deal is perfect; have to find something “good enough” and become comfortable with identified risks - Good searchers know to spend majority of time at top of the funnel (initial sourcing) or bottom (execution); learn to say yes or no quickly

Most important criteria to investors when thinking about target analysis:

- Mission Criticality -> enables pricing power & stickiness