I am curious to better understand a number of data points on the SF investing landscape:

• Are investors in aggregate taking smaller pieces of more deals or seeking to concentrate their investments in fewer deals to capture the limited deal-flow available to them.

• Would investors prefer to concentrate investment or prefer to take a fraction of as many deals as they can access?

• There appears to be some degree of bifurcation between folks who will invest in: Search funds / Self-funded searchers and partner searches. Are most SF investment funds structured to focus on larger shares of ownership in some deals or of traditional searchers funds?

• How much capital is the average investor (fund) deploying into each SF deal?
  

• What is the estimated flow of new capital into the space on an annual basis?
  
  - Is the flow of new capital keeping up with demand in general and demand for what would otherwise be deemed “premium deals” or searchers from Ivy League?