Phase 02: Fundraise

Fundraising & Investors

How to raise capital, write a PPM, build your investor deck, and structure equity for your search fund.

17 articles

Guide

How to Write a PPM (Private Placement Memorandum)

Section-by-section guide to writing a compelling PPM for your search fund, with common mistakes to avoid.

12 min read

Guide

How to Structure Your Fundraising Deck

Slide-by-slide guide to building a compelling search fund investor deck, with design tips and meeting strategy.

11 min read

Guide

How to Find Search Fund Investors

Strategies for connecting with investors who back search fund entrepreneurs across Europe and the US.

11 min read

Guide

Top Search Fund Investors: A Curated List

Serial search fund investors, dedicated funds, family offices, institutional investors, and MBA networks - the field of search fund capital providers.

14 min read

Investor

Family Offices as Search Fund Investors

Why family offices invest in search funds, finding SFOs and MFOs, pitching effectively, structuring the relationship, and non-standard terms to watch for.

13 min read

Guide

Search Fund Economics: Cap Tables & Equity

Worked examples of search fund cap tables, equity splits, vesting, and dilution for both traditional and self-funded models.

12 min read

Guide

Searcher Compensation: Salary, Equity & Economics

Search-phase salary, post-acquisition CEO comp, three equity tranches, lifetime economics, and tax planning strategies.

12 min read

Guide

Search Fund Term Sheet: Key Provisions Explained

Every provision of the search fund term sheet explained: search capital, step-up mechanism, searcher equity tranches, governance, acquisition capital, and protective provisions.

12 min read

Fundraising

Search Fund Fundraising Timeline: Week-by-Week Guide

A week-by-week guide to raising a search fund - preparation, investor outreach, pitch meetings, term sheets, and closing strategies.

12 min read

Guide

Second-Time Searchers: Raising Capital for Your Next Acquisition

Fundraising dynamics for serial acquirers: successful exits, add-on acquisitions, failed searches, and building multi-company platforms.

8 min read

Guide

Search Fund Legal Documents: LPA, Subscription Agreement & More

LPA, subscription agreement, PPM, side letters, step-up documents, operating agreements, and standard search fund templates.

10 min read

Guide

Using ROBS (Rollover for Business Startups) to Fund an Acquisition

How ROBS works, C-Corp requirements, ROBS+SBA structure, compliance obligations, risks, and choosing a ROBS provider.

10 min read

Guide

HELOC & Home Equity for Business Acquisition Down Payment

Using home equity for acquisition equity injection, HELOC vs. home equity loan, SBA compatibility, risks, and qualification requirements.

8 min read

Fundraising

Search Fund Investor Ecosystems by Region

Map the global search fund investor market - US, Europe, Latin America, and Asia-Pacific networks, dedicated funds, typical check sizes, and how to build your investor base.

11 min read

Guide

Revenue-Based Financing for Post-Acquisition Growth

How RBF works, payback multiples, revenue share percentages, when to use RBF, providers, and comparison with bank debt and equity.

8 min read

Fundraising

Institutional Investors in Search Funds: Who They Are & What They Want

A guide to institutional search fund investors - family offices, endowments, dedicated funds - and what they look for when backing searchers.

16 min read

Fundraising

How to Run an Effective Investor Meeting for Your Search Fund

Practical strategies for running compelling search fund investor meetings - preparation, pitch structure, Q&A handling, and follow-up best practices.

16 min read

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