Self-funded search vs. traditional search: what fed that decision?
October 03, 2024
by a searcher in Chicago, IL, USA
SF Community!
For any active searchers out there, how did you decide between self-funded vs. traditional search? Was it just a matter of being able to raise funds, or did you think of something else? I'm beginning to raise a fund, but want to understand how others thought about theirs (i.e., did anyone attempt self-funded and switch? Or vice versa?) Thanks!
from The University of Chicago in 2122 W Le Moyne St, Chicago, IL 60622, USA
1) I wasn't willing to move anywhere in the country, so needed to run a geographically focused search. Typically, traditional search investors will want you to be geographically flexible.
2) I wanted to retain control of the company, i.e. >51% of equity, and was willing to do a smaller deal to achieve that.
3) I was somewhat later in my career than a typical searcher, and could get by with limited income during the search timeframe.
My main personal reason for pursuing search in the first place was to not have bosses, so self- funded was a better route for me.
from Purdue University in Elkhart, IN, USA