In 1984, H. Irving Grousbeck, the Director of the Center for Entrepreneurial Studies at the Stanford Graduate School of Business, pioneered a new investment model, commonly termed a “Search Fund.” The objective of a search fund is to provide a vehicle for young, aspiring entrepreneurs to search for, acquire, manage, and grow a company. “It’s the most direct route to owning a company that you yourself manage,” Grousbeck said. The following are links to recommended Search Fund readings and videos.
Reports & Resources
Stanford Business: Search Fund Primer
- A Primer on Search Funds. A Practical Guide to Entrepreneurs Embarking on a Search Fund.
Stanford GSB - Best Practices for the Search Phase
- Search Funds: Best Practices for the Search Phase
Stanford Business: 2018 Search Fund Study: Selected Observations
- 2018 Search Fund Study: Selected Observations. Provides insights to all known search funds.
Improving Search Efficiency
- Improving Search efficiency. Search Fund Guide to Internships
The Search Fund Guide to Sales & Acquisitions Rev. 6.19
- This guide contains certain tax considerations to keep in mind when buying or selling a business and is meant as a general introduction.
The Due Diligence Phase - More than Meets the Eye
- The process of performing due diligence on a target company entails an exhaustive review of all significant business documents and records in an effort to assess the health and viability of the business under consideration
Search Funds - What has Made Them Work?
- The purpose of this resource is to highlight the key success factors of search funds.
Search Funds: Death and the Afterlife
- Presents nine common themes, or causes of failure.
Search Fund LBO Model V 2.0
- Developed by Intrinsic & Endurance (Password protected. Contact Alex Hodgkin, CFA, ASA at Intrinsic, LLC (720) 457-6102).
Spreadsheet and Database Risk Management
- An often overlooked risk.
The Letter of Intent
- Purpose and Objectives of the LOI
Buy a promising small company and become its CEO
- A review of search funds and their success
How CEOs-In-Waiting Buy the Companies They Want to Run
- A little-known investment vehicle skyrockets young entrepreneurs into top roles.
Seek and We Shall Fund
- Private equity for absolute beginners
Forbes The Search Fund Model: How to Become a 28-Year Old CEO
- View from a first time searcher through an interview with Forbes
New Company - Pre-Launch Organizational Plan
- Pre-launch organizational plan template
Reps and Warranties Insurance for Search Funds
- by August Felker, HUB International
2018 ETA Conference: How to Search and Close
Search Funds: The Investors' Perspective
Routes to Entrepreneurial Acquisition
Best Practices for Conducting a Search: Panel Discussion
Strategic Management: Routes to Entrepreneurship Through Acquisition