Explore every episode of the podcast Search Funded: The ETA Podcast
| Title | Pub. Date | Duration | |
|---|---|---|---|
| Building a Search Fund in China: No Playbook, Local Trust, and What Actually Works - Sally Tian, Snowtide Capital | 28 Apr 2026 | 00:30:29 | |
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 international and local investors, why credibility matters more than the model itself, and how relationship-driven dynamics shape sourcing and dealmaking. Sally also highlights key cultural differences, from how sellers perceive young operators to why traditional search fund narratives don’t translate directly. Throughout the conversation, she reflects on identity, returning to China, and how her background across cultures has shaped her approach to building and operating a business in a market where there is no clear playbook. | |||
| The End of Financial Engineering and Why AI Won’t Save You - Lee McCabe, Claymore Partners | 21 Apr 2026 | 00:32:08 | |
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 equity firms and their portfolio companies to drive value creation across marketing, data, and technology. Before that, Lee led digital and growth initiatives at companies like eBay, Expedia, Facebook, and Alibaba, giving him a unique perspective on how digital and now AI actually show up inside real businesses, not just pitch decks. We cover:
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| Episode 21 - Abhi Golhar, Meridian 84 | 29 Apr 2025 | 00:49:10 | |
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 execution. He is the Managing Partner at Meridian 84, an investment platform focused on lower middle market acquisitions and roll-ups across healthcare, professional services, and automotive sectors. Abhi also leads capital formation initiatives and portfolio company operations, helping business owners and operators achieve transformative growth and sustainable value creation. A three-time nationally syndicated radio host with more than three million daily listeners, Abhi’s insights on Wall Street, private equity, and innovation have been featured in major media outlets including Forbes, Inc., Entrepreneur, and Huffington Post. He is a frequent keynote speaker for corporate events and industry conferences, where he equips leaders and organizations to embrace doubt, drive change, and unlock new pathways to success. Abhi is passionate about bridging traditional industries with emerging technologies, advocating for a pragmatic approach to change management, AI adoption, and strategic reinvention. His leadership philosophy is grounded in the belief that uncertainty, when navigated skillfully, becomes a catalyst for growth and innovation. Website links: https://www.lafayetteandoak.com | |||
| Episode 18 - LaSean Smith, CAGR Investments | 25 Oct 2024 | 01:15:38 | |
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, Microsoft, Amazon, and Google, and while doing so deployed over $450 million deployed across corporate R&D, Lasean also holds several patents and has invested in over 12 companies himself at CAGR. In this episode, we discuss Lasean’s philosophy on what startups and SMEs can learn from corporate practices (and vice versa), how AI can help search fund acquisitions, and why he's focusing on Malaysia for his non-US investments. Lasean also shares valuable insights on attaining financial independence, diligencing culture, and building scalable processes for long-term success. | |||
| Episode 20 - Kevin Bibelhausen, Fruition Capital (and Heritage Fabrics) | 23 Aug 2024 | 00:44:20 | |
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. | |||
| Episode 17 - Gabriel Chick, Service-Tech Corporation | 12 Apr 2024 | 00:32:55 | |
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 Tepper Business School's full-time MBA program. | |||
| Episode 16 - Tom Gilroy, GKG Risk | 08 Apr 2024 | 00:17:31 | |
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. | |||
| Episode 15 - Saumil Jariwala, Feta Fund | 05 Apr 2024 | 00:39:14 | |
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. | |||
| Episode 14 - Javier Puig, Arada Capital Partners | 30 Nov 2023 | 00:27:39 | |
Arada Capital Partners is a multidisciplinary team that invests in search funds across Europe. | |||
| Episode 13 - Bakari Akil, Graves Hall Capital | 07 Nov 2023 | 00:27:48 | |
In this episode, host Nick Lall interviews Bakari Akil, Managing Director of Graves Hall Capital. | |||
| Episode 12 - Jose Moreno, AIJ Holdings | 01 Sep 2023 | 00:28:52 | |
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. | |||
| Episode 11 - Rafael Dufour, Relais du Dirigeant | 09 Aug 2023 | 00:29:32 | |
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. | |||
| He Built an Industry Leader and Walked Away from Selling It - Eric Whitley, GridSME | 14 Apr 2026 | 00:58:56 | |
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 resources. But what makes Eric’s story especially compelling isn’t just the business he built, it’s the decision he and his team made not to sell it. After going through a full sale process, meeting with buyers, and receiving multiple offers, they ultimately walked away. Instead of optimizing for an exit, he and his partner and top leadership chose to structure the company for long-term independence, internal ownership, and what he calls a “forever company.” And since Eric stepped aside from leading the company, they chose to fund his buyout of GridSME through the company rather than outside investors, thus creating a succession ownership model for each of the remaining owners when their time is right. Along the way, Eric shares the frameworks that shaped his thinking, from The Pumpkin Plan to Another Way: Building Companies That Last…and Last…and Last, and how they translated those ideas into real decisions: focusing on A-level clients, building almost entirely through referrals, and sharing 50% of profits with employees. More than anything, this conversation is a reminder that behind every acquisition opportunity is a real person who has spent decades building something meaningful. | |||
| Episode 10 - Round 2 with Ibrahim and Khaled of Moonbase Capital | 06 May 2023 | 00:32:28 | |
Moonbase just raised $5M and Ibrahim and Khaled returned to discuss what they're seeing in the search fund ecosystem. | |||
| Episode 9 - Andrew Locke, co-founder of Ambit Partners | 21 Mar 2023 | 00:30:00 | |
Ambit Partners is a dedicated Search Fund investor, enabling entrepreneurship through acquisition in traditional and developing markets. They combine a global investment mandate with deep SME transacting and operating experience - supporting a portfolio of exceptional entrepreneurs to find, buy, & build enduring businesses around the world. | |||
| Episode 8 - Pete Seligman, Australian search investor | 07 Mar 2023 | 00:45:23 | |
Pete is a former acquisition entrepreneur himself who now backs aspiring private business owners by co-investing in their businesses and coaching them to make real progress by: distilling the mission; articulating the strategy; building great teams; and then, designing pragmatic plans to put rubber on the road. | |||
| Episode 7 - Dr. Newton Campos, Managing Partner of Newton Equity Partners | 05 Mar 2023 | 00:32:41 | |
Dr. Campos is the Country Director of IE University in Brazil, Professor of Entrepreneurship at FGV EAESP, Visiting Professor at IE Business School (Spain) and ITA (Brazil) and Founder and Managing Partner of Newton Equity Partners, a company that invests in Small and Medium Enterprises (SMEs) via Search Funds worldwide. | |||
| Episode 6 - Mitsuya Shimura, Founder and Managing Partner of M Capital | 10 Feb 2023 | 00:14:55 | |
M Capital is the second traditional search fund ever in Japan, where Mitsuya is currently searching for a business to acquire. | |||
| Episode 5 - Bruce Vann, CEO LuXout Products Incorporated | 09 Feb 2023 | 00:24:49 | |
Bruce Vann is a self-funded searcher who has acquired 3 businesses since launching his search fund journey in 2019. | |||
| Episode 4 - Phil Desrochers, CEO of GLP Canada Ltd. | 01 Feb 2023 | 00:33:19 | |
Philip Desrocher, along with his search partner Cameron Roblin, acquired GLP Canada (one of Canada's largest HVAC distributors) less than a year after launching their search fund in 2021. | |||
| Episode 3 - Brenden Van Buren, Co-Founder of Generational Transfer Entrepreneurs and President of Pro Max Fence Systems | 25 Jan 2023 | 00:29:47 | |
Brenden is both a search fund entrepreneur, having acquired Pro Max Fence Systems in 2018, and a search fund investor as co-founder of Generational Transfer Entrepreneurs (GTE), which now has 5 acquisitions under its belt. | |||
| Episode 2 - Ibrahim and Khaled Abdel Rahim of Moonbase Capital | 14 Nov 2022 | 00:28:06 | |
Moonbase Capital is a search fund investment group that invests in and provides hands on support to search fund entrepreneurs in Spain, France, and Italy. | |||
| Episode 1 - Dustin Johnson of Viva Partners | 08 Sep 2022 | 00:27:15 | |
| ETA Is Breaking (and Going Global): Investor Conflict, Weak Boards, and Structural Shifts - Ibrahim Abdel Rahim of Moonbase Capital | 07 Apr 2026 | 00:42:19 | |
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 points to investor dynamics as a key pressure point. What was once a collaborative, trust-based model is, in his view, seeing more misalignment, politics, and investors who underestimate the level of involvement required to support operators. According to Ibrahim, this is most visible in board composition, arguably the most important driver of outcomes in ETA. He suggests that boards are increasingly formed based on check size rather than merit, leading to under-engaged or overly financial oversight, which becomes especially problematic when companies struggle. Ibrahim shares his framework for building effective boards:
Zooming out, Ibrahim argues that while ETA is scaling quickly, the model’s success depends on maintaining high-quality investors and strong boards. The key question going forward is whether the ecosystem can grow without losing what makes it work. | |||
| From M&A in Africa to Enterprise Wireless Infrastructure, DC Moore of ATG | 24 Mar 2026 | 00:48:30 | |
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 by more than a decade in Africa doing M&A and operating leadership, DC brings a fundamentally different profile to ETA than the typical post-MBA searcher. Instead of buying a simple business and replacing the owner, DC deliberately sought out complexity, kept the founder on, and structured real alignment around long-term growth. In this episode, DC discusses:
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| From Fired Searcher to $50M in Deals in One Year | Kevin Hong, Caprae Capital | 17 Mar 2026 | 00:44:45 | |
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 business turned into a battle over governance, board control, seller alignment, and strategy. Instead of disappearing after being removed, he went public, interviewed other terminated searchers, and began publishing investor rankings and operator feedback in an effort to bring more transparency to the search ecosystem. In this episode, Kevin discusses:
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| Employee Ownership as a Search Fund Advantage, Turner Wyatt of Small Capital | 18 Feb 2026 | 00:34:37 | |
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 this century: income inequality. His core thesis is simple: if ETA is reshaping ownership in America, it’s a missed opportunity if employees remain locked out of wealth creation, and it’s also a missed opportunity for business performance. | |||
| What a Legendary Wall Street Insider Looks for in Search Fund Entrepreneurs, William D. Cohan | 06 Jan 2026 | 00:30:22 | |
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 Cards, The Last Tycoons, and Power Failure, Bill spent nearly two decades as an M&A banker at Lazard, Merrill Lynch, JPMorgan Chase, and GE Capital. But what many people do not know is that he has also been a search fund investor for many years, backing entrepreneurs in the U.S. and internationally, including a decades-long investment that ultimately exited to the Pritzker family. In this episode, we cover:
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| Buying Spotify artist music rights with Tom Sarig, Antifragile Music | 10 Jul 2025 | 00:47:57 | |
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 episode, we cover:
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| Is Now The Time for EtA in Emerging Markets? | 08 May 2025 | 00:11:37 | |
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, legal, or investment advice. Please do your own research or consult a professional. | |||