Follow-on funding rounds in a search fund-like structure?

July 09, 2025
by a searcher in London, UK
Hi everyone, does anyone have experience with how follow-on funding rounds, for example to finance M&A after the initial acquisition, are typically handled in search funds? I'm particularly interested in understanding the implications for deal economics, the impact on both investors and founders, and how these rounds are generally viewed by investors in terms of appetite and expectations. Thanks!
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
from Massachusetts Institute of Technology in Portland, OR, USA