What Investors Look for in First-Time ETA Searchers

February 01, 2026

by an member in London, UK

I’m exploring entrepreneurship through acquisition and trying to understand what it realistically takes to become fundable and credible for a first acquisition. For those who invest in or back first-time searchers: What do you need to see before taking someone seriously, operating experience, deal reps, sector focus, or something else? I’d also love to connect with investors in this space, feel free to connect with me on LinkedIn.

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Reply by an investor
in Lakeland, FL, USA

Great question. I’ll keep it simple. Most investors aren’t technically backing searchers, we’re backing future operators. What usually matters most: Real operating experience (owning outcomes, not just ideas) Clear plan for who you’ll be post-close Focused thesis vs. “I’ll look at anything” A realistic view of how hard searching and operating actually are Comfort with accountability and governance Perfection isn’t the bar, readiness is. Happy to connect if you’re serious about building, not just exploring.

Reply by an investor
in Orange County, CA, USA

For a first-time searcher raising investment capital, I’d focus heavily on track record. Have you participated in M&A transactions before, even if while working at another firm? Do you have relevant operating experience in the sector you’re targeting? Ideally, you bring at least one of those, and preferably both. That said, the deal itself matters enormously. A solid deal under LOI can overcome a lot. If you’re acquiring an excellent company at a competitive price, the path to funding becomes significantly easier.

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