Anyone seriously consider traditional search and then go self funded?

February 28, 2025

by a searcher from University of California, Berkeley - Haas School of Business in Santa Monica, CA, USA

Hi all, looking to speak with folks who seriously (got pitched or had regular discussions with) considered partnering with a traditional search partner (e.g., Pacific Lake) and then opted to go self-funded.

Curious about what you saw as major benefits of a traditional search partner outside of capital/runway, and what got you comfortable ultimately going the self-funded route.

Seems like major benefits (outside of capital/runway) are a defined playbook, help with industry filtering, some deal flow, access to experts in industries under diligence, support network during the search, etc.

Reply by a searcher
from Boston University in Melbourne VIC, Australia

Hi Andrew, I'm still raising for a Traditional Fund, but I've had a company turn into a live opportunity in the last couple of weeks so its stretching my understanding of what's possible and necessary to find and acquire. I see great value in the traditional model, and I'm beginning to appreciate what I've always been told, which is that its not about the search model, its about finding and acquiring a business. Start searching now and you might be able to answer the question you're posing more confidently.

Reply by a searcher
from INSEAD in R. Dr. Eduardo de Souza Aranha - Itaim Bibi, São Paulo - SP, Brazil

I went this route... mainly because the opportunity showed up while I was in the early days of raising for the fund and I needed to act fast. Also of course made corporate governanace much easier! But it's not an option for everyone...

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