Search Budget Guidance?!

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by a searcher from Massachusetts Institute of Technology
in San Francisco, CA, USA

3h ago

Search Budget Guidance?!

Hi all — I’m working on a detailed budget for my search and would love a reality check from anyone who has already been through this. Would anyone be willing to share a budget they used for their search, or potentially QC the one I’ve built? I’ve been using AI to help build out the assumptions, and some of the numbers are starting to get a little nuts, so I’d really value a real-world analog from anyone with experience!

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reply by a searcher 1h ago
from Massachusetts Institute of Technology in San Francisco, CA, USA

So far pre-LOI I have legal (LLC setup + LIO review/ drafting), I hired a consultant, subscriptions, and travel, so it's in the $10k range. But, from what I understand, if you get into diligence and a deal doesn't go through that can be up to $50k-ish. And then there's all of the deal costs for the deal that you actually end up doing, which is up to $150k per AI. Plus reserves for integration/ adjustments, where the numbers really fly. It's really the $50k, $150k and integration, along with what can be covered at close vs. what you have to pay OOP that I'm trying to understand.

reply by a searcher 1h ago
from University of Pennsylvania in California, USA

If you’re thinking about traditional (funded) search, I’m happy to help. I would budget differently if not raising capital though and may not be the best help then. Dm me if i can be helpful.