Search Funded: The ETA Podcast

In this episode of Search Funded, I speak with Bhavik Rasyara, founder of Pravah Capital and one of the first searchers helping build the entrepreneurship through acquisition ecosystem in India. Bhavik shares his journey from IIT Madras to BCG, Bain Capital, Scaler, and Harvard Business School, and explains why he entered his MBA already knowing he wanted to return to India and become an entrepren...

David Khalil, Partner and CFO at saas.group, joins Search Funded to discuss the changing economics of SaaS.  We talk about the collapse of SaaS exceptionalism, the shift away from ARR multiples, why GAAP profitability matters again, how stock-based compensation distorts earnings, and how saas.group acquires and operates profitable product-led software businesses for the long term.   Send us Fan Ma...

In this episode of Search Funded, I speak with Michael Johns, Managing Director of Ascentro Capital Partners, a New Zealand-based private investment firm focused on buying, building, and growing businesses across New Zealand and Australia. Michael shares the story of leaving the corporate and finance world to build Ascentro from the ground up, and why that transition was far more humbling than he...

In this episode we are joined by Alexander Kelm, founder of ETA Europe and writer of Buyout Diary, to explore why entrepreneurship through acquisition in Europe requires a very different playbook from the one most searchers know in the United States. Alexander shares his journey from finance and startups into ETA, why he chose independence over the traditional search fund model, and how his MBA re...

 Sally Tian shares her journey from consulting, tech, and Harvard Business School to building one of the first search funds in China alongside her husband and co-founder. She explains why she walked away from the “immigrant dream” and chose a more uncertain but aligned path in entrepreneurship.  We discuss what it actually takes to do search in China, including how fundraising differs across inter...

Most private equity returns over the last decade were not driven by operators. They were driven by cheap debt and multiple expansion. That playbook is breaking. In this episode, Lee McCabe, partner at Claymore Partners, explains what actually drives value creation now and why most lower middle market businesses are far less prepared than they think. At Claymore, Lee works directly with private equ...

In this episode we speak with Eric Whitley, co-founder of GridSME and GridSec, one of the leading providers of grid compliance, engineering, and cybersecurity services for renewable energy operators in the Western United States. After decades working inside the power grid, Eric and team built a highly specialized business that became essential to the rapid growth of solar and other inverter-based...

In this episode, Ibrahim Abdel Rahim returns to share how ETA has evolved from a niche strategy into a rapidly globalizing asset class. Moonbase has expanded beyond Europe into markets like Brazil and India, where activity is accelerating, while countries like Spain continue to produce strong deal flow. But as the ecosystem grows, Ibrahim argues that deeper structural issues are emerging. He point...

DC Moore is a mid-career searcher and the new CEO of Atlantic Technology Group, an enterprise wireless and mobility infrastructure provider benefiting from durable tailwinds tied to 5G densification, in-building connectivity needs, and rising mobile data demand. With a path that includes Georgia Tech (electrical engineering), Wharton, and time at Motorola, Lockheed Martin, and McKinsey, followed b...

Kevin Hong is a former searcher who was fired from the company he acquired and is now the founder of Caprae Capital, a tech-enabled lower middle market investment platform behind SaaSquatch Leads, Search as a Service, and a growing portfolio of businesses. After years as an entrepreneur, Kevin turned to search as a more de-risked path to ownership. But his experience running a data center services...

 Turner Wyatt is the founder and CEO of Small Capital, an investment firm backing self-funded searchers who want to bake employee ownership into their acquisitions from day one. A lifelong social entrepreneur (food security, food waste/climate, and founding the Upcycled Food Association), Turner describes his pivot into ETA as a direct response to what he sees as the other defining challenge of th...

On this episode of Search Funded , we sit down with William D. Cohan, bestselling author, longtime financial journalist, and former Wall Street M&A banker, for a wide-ranging conversation that spans search fund investing, leadership, capitalism, and career reinvention. Before bringing moral clarity to the financial world through his journalism and books including Money and Power , House of Car...

On this episode of Search Funded , we sit down with Tom Sarig , founder and CEO of Antifragile Equity Partners . A Grammy-winning music executive and former SVP at multiple major labels, Tom has worked with artists like The Roots, Erykah Badu, and Lou Reed. He now applies his decades of experience to acquiring music catalogs and helping independent artists grow their careers sustainably. In this e...

New SBA rules are making self-funded search tougher—especially for non-U.S. citizens. In this episode, we explore why it might be time to look abroad and my personal reflections after spending the past few months traveling through the Middle East and Southeast Asia.  Links to INSEAD Emerging Markets Podcast: Spotify , BuzzSprout , Apple .  Nothing in this episode should be interpreted as financial...

 Abhi Golhar is an entrepreneur, private equity investor, and nationally recognized speaker specializing in business leadership, innovation strategy, and private markets investing. With a track record of founding, scaling, and exiting multiple companies across healthcare, education, and technology sectors, Abhi brings a deep understanding of operational excellence, M&A, and strategic growth ex...

Lasean Smith is founder of CAGR Investments, a micro-PE firm that is part family office and part product studio.. Lasean holds a bachelor's in media and computer science from Southern Illinois University, a master's from Arizona State University, an MBA from Georgetown, and a professional screenwriting degree from UCLA. LaSean is also a veteran of the US Navy and has worked at Deloitte,...

Kevin Bibelhausen is an investor and business owner based in High Point, North Carolina. He frequently consults on digital strategy & operations, is a sought after conference speaker, frequent podcast guest and author. Kevin is passionate about professionalizing the "wild west" that was once SMB acquisitions.  He has helped dozens of entrepreneurs find, finance and acquire small busi...

Gabriel Chick is the President and CEO of Cleveland, Ohio-based HVAC and industrial cleaning services company Service Tech Corporation (STC). Prior to STC, Gabriel served over 4 years as a Field Artillery Officer in the US Army where he led and oversaw a 40+ personnel team. Gabriel is a co-founder of GT Entrepreneurs, which he helped create while enrolled at Carnegie Mellon University's Teppe...

In this episode, Tom Gilroy, representing the fourth generation at GKG Risk, shares invaluable insights into the critical role of insurance due diligence in the process of acquiring a business and often-overlooked aspects of insurance in ensuring the long-term success and stability of an acquisition. Send us Fan Mail Support the show Find us on Apple , Spotify , Amazon , and YouTube . 

Saumil Jariwala, of Feta Fund, (Founder-focused Entrepreneurship Through Acquisition) joins us on this episode to talk about his mission to  help one thousand entrepreneurs acquire businesses in his lifetime.  We dive deep into the philosophy behind Feta Fund, highlighting its unique approach to specializing in providing support during the search phase of the EtA journey, as well as stories of EtA...

Arada Capital Partners is a multidisciplinary team that invests in search funds across Europe. Javier Puig, Partner at Arada Capital Partners, joined me to discuss Arada's value add and his journey launching a search fund investor after his MBA. Send us Fan Mail Support the show Find us on Apple , Spotify , Amazon , and YouTube . 

In this episode, host Nick Lall interviews Bakari Akil, Managing Director of Graves Hall Capital.  They discuss Bakari's unique path to becoming a successful acquisition entrepreneur, including his most recent acquisition of a $30 million burlap bag manufacturing company.  Bakari also shares his experiences as a lecturer at Cornell and Columbia Business Schools, his founding of New York'...

AIJ Global (also known as AIJ Holdings, and formerly known as AI Global) is an international investment group with interests in multiple asset classes, including search funds, private equity, and startup ventures led by highly motivated and talented entrepreneurs. They bring value by: (1) Providing ongoing guidance to entrepreneurs, (2) Working closely with their operating and managing partners th...

Rafael is a solo traditional searcher looking to acquire an SME in France. He has 11 years of purchasing, sales, business development, strategy, and general management experience in Manufacturing (Steel, Textile) and FMCG (Personal care, Hygiene) industries, and France, Spain, Morocco, China and Australia. Over the past 8 years, Rafael has built a track record in managing crisis situations as well...

Moonbase just raised $5M and Ibrahim and Khaled returned to discuss what they're seeing in the search fund ecosystem. Send us Fan Mail Support the show Find us on Apple , Spotify , Amazon , and YouTube .