Can Self-Funded Searchers REALLY Raise MILLIONS of CAPITAL to Buy a Business?

Summary

In this conversation, Jon Stoddard interviews Sean Smith about his newly established search fund, Search Fund Ventures. Sean explains the concept of self-funded searchers and independent sponsors, detailing their investment strategies and the types of businesses they target. He discusses the importance of essential products and services, the investment process, and the value they add to their portfolio companies. The conversation also covers the cost of capital, return expectations, and a recent deal they completed. Sean emphasizes the significance of due diligence, quality of earnings, and the qualifications of searchers. The discussion concludes with insights into the future goals of the fund and the importance of investor commitments.