The GSB search fund primer, specifically the PPM attachment, gives cost categories for search (salary, benefits, travel, legal, etc.) but is silent on market rates for those costs.

Two categories of costs are particularly hard to know - costs associated with search (like software) and deal costs (legal, diligence, etc.)

Are folks allocating budget for search software (Zoominfo, Pitchbook, Hubspot, etc.)? Are there other non-software costs to account?

What are reasonable budgets for legal, diligence, accounting? Are folks making a provision for N broken deals (maybe 2?) as part of their budget?