As many of you know, I am a marketer at a startup. That’s one of many reasons why I write about startups and equity compensation all the time. Like, maybe too much, but I digress. Although I love my job, someday I’d like to leave the startup world to be an entrepreneur. My problem is that I don’t have any genius ideas for a business. I am just into entrepreneurship, finance, and finding efficiencies. So where does that leave me? Enter the search fund.
Search funds are basically tiny private equity funds. A small group of people (1-4) will raise money to search for and find a business for sale, within a given price range, in an industry where they have some expertise. If they succeed in finding a target business, they do their due diligence and raise money to purchase it. Then they run it, and eventually sell it at a profit. Hopefully.
Earlier in the year, I wrote about search funds, and a couple of people tweeted me to tell me about a Search Fund Conference in Boston. I booked a ticket, and holy shit… I learned a LOT in a single day.