Is Atlanta or Austin better for Independent Sponsors?

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January 21, 2026

by a searcher from New York University - Leonard N. Stern School of Business in Orlando, FL, USA

Looking for firsthand input from folks who’ve sourced or closed $2–6M EBITDA deals as independent sponsors. **Specifically NOT looking for tech related deals** BACKGROUND: Acquired a healthcare company in Orlando in 2022 using personal equity + SBA; now focused on sourcing the next deal as an independent sponsor. Married with 2 kids (ages 4 & 9), used to live in NYC, Los Angeles and currently Orlando. We're evaluating moving to Atlanta vs. Austin as a long-term base, with the goal of having a thriving ecosystem for independent sponsor and opportunities for proprietary dealflow. My current (imperfect) take: ATLANTA appears to have deeper LMM infrastructure (brokers, IBs, advisors) AUSTIN seems easier socially and culturally, with strong operator/transplant density, but potentially thinner on pure LMM intermediaries (may require regular Dallas/Houston travel). Plus a lot of tech and VC emphasis, which is not relevant to what I'm doing. QUESTIONS Which city was easier to break into as an independent sponsor (not a fund)? In Atlanta, which neighborhoods or sub-markets actually matter for being in the deal flow? In Austin, is local sourcing sufficient, or does it realistically require a Dallas/Houston overlay? If your goal is one closed deal in 6–12 months, which city would you choose and why? Thank you!
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Reply by a searcher
from University of Illinois at Urbana in Austin, TX, USA
Shiv - Focus and hard work you will get traction in either market. IMO you are (slightly) more likely to close an interesting deal in/near the geography from which you conduct your search. It is helpful to tell a seller "I'll see you tomorrow for lunch" rather than "I'll see you next week after I book a flight". Even though you may be geographically agnostic, and you can close deals from far away, I suggest you evaluate which market might work better for you personally both now and in the future and count on your grit to make you successful in the geography of your choosing. Hope this makes sense.
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Reply by a searcher
in Orlando, FL, USA
Hi Shiv - if I had to pick, Austin would be my choice. The McGuireWoods conference is in Dallas (so not far), "the Super Bowl" of the IS space. And LP First Capital is based in Austin, one of the most successful IS. Great people worth making a connection with.
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