A comparison of growth in traditional search funds raised over time, by country

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October 17, 2024

by a searcher from University of Adelaide in São Paulo, State of São Paulo, Brazil

redacted‌ and I are obviously interested in how the search fund scene is evolving in Brazil, given we're raising a fund, and I often compare and contrast Brazil with Australia given my roots there.


It occurred to us that it would be interesting to compare the evolution of a number of the key and emerging countries, and the release of the latest reports from GSB and IESE provided the stimulus.


Here's the result:








Almost all data is derived from the GSB and IESE studies, with a couple of missing dates sourced from searchfunder.com and google. The second and thrid graphs are just a zoom on the first, so that the data for countries other than the US & Canada is easier to read.


This is more or less a repost from my recent post on LinkedIn but we've included new data series, for Germany, France and Italy, in addition to the series that were already posted for the US & Canada, UK, Spain, Mexico, Brazil and Australia.

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Reply by a searcher
from Universidade de São Paulo in São Paulo, SP, Brasil
^redacted‌ I really like this data! It's interesting to see how the number of search funds has been consistently increasing across all the countries analyzed. Especially in Brazil, where the growth of this model has attracted a significant number of searchers in a short time. This opens up a range of opportunities for the entire search fund community as the model becomes more well-known and better structured not only in the US, but worldwide
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Reply by a searcher
from INSEAD in Paris, France
Thanks, very insightful, would you have the number of exits by country ?
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