This week we speak with Rob LeBlanc of Ambit Partners. This excellent conversation covers the characteristics of "maverick" searchers pioneering new markets, the investment thesis of Ambit's first fund, and what investors can expect from this very attractive, uncorrelated asset class.

Ambit Partners recently announced the $16m initial close of their inaugural fund, targeting $36m, and are are looking to back ±60 search funds over the next couple of years.