Looking to Learn. 1-on-1 Conversations with Active & Ex-Searchers

May 05, 2025

by a searcher from The University of Manchester - Alliance Manchester Business School in Manchester, UK

Hi Searchfunder community, I'm currently in the fundraising phase for a traditional Search Fund focused on acquiring a business in the UK. As I continue to develop my strategy, I’d love to enrich my research and discussions with insights from a broader group of active and ex-searchers. I’m looking to schedule a few 30-minute 1-on-1 conversations to learn about: Best practices in investor outreach and securing early commitments How to build a strong, diversified cap table Lessons from both self-funded and traditional searchers Effective strategies for deal sourcing and early-stage due diligence Navigating the transaction process pre-acquisition While my search is UK-focused, I’m very open to learning from searchers globally, any experience and insights are truly valuable regardless of geography. If you’re open to a brief call, I’d greatly appreciate it. Please feel free to reply here or message me directly to set something up. Thank you in advance!

Reply by a searcher
from Parsons School of Design in Cuxhaven, Germany

Thanks for your thoughtful post. It’s great to see your proactive approach to learning from the search fund community as you embark on your journey in the UK market. I've noticed that many have viewed but not responded to your post. I see this happen often. If I may offer a quick piece of advice: Give before you take. When reaching out to experienced searchers and potential mentors, it’s always appreciated when you consider how you might offer value in return-even if you’re early in your journey. Many seasoned searchers are inundated with requests for their time and insights. Demonstrating that you respect their time and are thinking about ways to reciprocate (even something as simple as sharing your own research, offering introductions, or providing feedback on their projects) can go a long way in building genuine, lasting relationships. That said, here are some juicy tips from one of my blogs I put together... 📚 Key Insights for a UK Search Fund: Best Practices & Lessons ⭐️ Investor Outreach & Early Commitments Build relationships early with potential investors, focusing on those who offer not just capital but also strategic value, such as industry expertise or networks. Transparent and regular communication is crucial for trust and ongoing support. In the UK and EU, recent searchers emphasize the value of learning directly from those who have recently raised funds in these markets. ⭐️ Building a Strong, Diversified Cap Table Decide between a concentrated cap table (few, larger investors) or a distributed one (many, smaller investors). Concentrated tables allow for faster decision-making and deeper investor involvement, while distributed tables can be easier for fundraising and provide broader support. Assess what mix of investor skills and backgrounds best complements your search goals and target industry. ⭐️ Lessons from Self-Funded vs. Traditional Searchers Traditional searchers benefit from investor guidance, a salary during the search, and structured support, but may have less flexibility in target geography or industry. Self-funded searchers have more autonomy but less support and must be prepared for a more solitary journey. ⭐️ Deal Sourcing & Early-Stage Due Diligence Use both proprietary outreach (direct to business owners) and broker-led approaches; strong systems and processes (like a CRM and standardized templates) help manage deal flow efficiently. Set clear outreach and deal pipeline targets to maintain momentum and refine your approach as you gain experience. ⭐️ Navigating the Transaction Process (Pre-Acquisition) Due diligence in the UK includes legal, financial/tax, and commercial aspects. Legal teams focus on uncovering liabilities and drafting protective clauses, while accountants analyze financial risks and prospects. Prepare for detailed pre-contract enquiries and ensure your advisors are experienced in UK transactions. 🧑🏻‍💻 Final Advice • Connect with recent UK/EU searchers for current, region-specific insights. • Leverage platforms like Searchfunder to find mentors and peers willing to share their experiences. These steps and considerations will help you build a robust, investor-aligned search fund and navigate the UK acquisition landscape with greater confidence.

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