Is “Search Fund” becoming shorthand for all ETA, or does the distinction still matter?

I’ve been speaking with a few operators recently and noticed that “search fund” and “ETA” are often used interchangeably. Structurally, though, they seem quite different: • Search fund = defined fundraising model with search capital • ETA = broader umbrella of acquiring and operating businesses Would you say the distinction still matters in 2026? Or has “search fund” simply become cultural shorthand for acquisition entrepreneurship? Curious how investors and operators here view it, especially around funding structure and governance.