First Search

searcher profile

March 05, 2022

by a searcher from University of Pennsylvania - The Wharton School in Philadelphia, PA, USA

Starting first self search with a buddy this June. Fellow searchers did you secure funds initially or stay light and secure funds once you got closer to an acquisition? I have no sig other or children and I am lucky enough to have a great support network for housing during the search. So the only thing I would need to fund is my random expensive comic book collection related costs.

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Reply by a searcher
from University of Glasgow in Glasgow, UK
It's good to actually have an eye on how you would fund a transaction, but not critical at the early stage, more important would be to define your KPI's/criteria for your search fund. Theoretically if the deal is good enough, the investors and funding should follow. It wouldn't do any harm to start a conversation with funders/investors once you have a bit of an idea on what you are going to do.
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Reply by a searcher
from Texas Tech University in Houston, TX, USA
Hi Matthew, as I progressed on this journey, I discovered all scenarios. I am working with a group now and we are pooling capital ahead of the search. I operate from the position that if the business is good, the risk is clear, management is competent and valuation reasonable, capital is not a problem.
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