HEC Search Fund Club

🚀 Takeaways from IESE’s 6th International Search Fund Conference(4/5)🚀    Today, we would like to share our thoughts on the third session on the second day and the takeaways we gained.    📊 Topic 4: The Transforming role of the Board   This panel on governance explored the evolving roles of boards in search fund companies, from early-stage operational support to later-stage strategic oversight. Speakers highlighted the importance of forming a board early in the search process, ensuring members have equity stakes to align their interests with the company's long-term success. The panelists emphasized the need for transparency between the CEO and the board, particularly when discussing contentious issues such as CEO performance or preparing for an exit. The board's role shifts from providing day-to-day support in the early stages to making strategic decisions about capital allocation and talent acquisition and ultimately guiding the company through successful exits.    Key Takeaways:  Early board formation: Early board formation ensures better support and guidance, especially in the operational phases.  Equity stakes for alignment: Board members who hold equity in the company are more invested in its long-term success.  Transparency and trust: A solid board-CEO relationship, built on transparency and trust, is essential for navigating difficult decisions, such as CEO replacement or exit strategies.  Strategic planning: As the company matures, the board's role evolves from operational involvement to broader strategic planning, ensuring long-term growth and success.    In the following final post, I'd like to share some insights we gained from the fourth session on the second day. #HECParis #HECParisMBA #Entrepreneurship #Acquisition #SearchFund #EntrepreneurshipThroughAcquisition #ETA

🚀 Takeaways from IESE’s 6th International Search Fund Conference(3/5)🚀    Today, we would like to share our thoughts on the second session on the second day and the takeaways we gained.      📊 Topic 3: Leadership Transformations   Leadership transformation was a central theme in this panel discussion, as seasoned CEOs shared their journeys and lessons learned while leading their companies. Ivana Butcher, the CEO of Berie Exhibitions, emphasized the importance of clear communication with her team and her efforts to retain top talent during critical early stages. João, the Co-CEO of Voke, shared his valuable insights early on, such as learning to balance collaboration with larger teams while staying aligned with core values during acquisitions. Mario Cecilia, the Partner of Cerralvo Capital, spoke about the importance of mentorship and systematizing company culture through structured processes and compensation schemes to create a consistent and scalable organizational framework.    Key Takeaways:  Team retention and communication: Effective communication is critical for keeping key employees engaged and motivated, especially during transitions and challenges.  Learning from mistakes: Leadership development is a continuous process, and making and learning from mistakes—like deferring too much to outside experts—can lead to more vital core values.  Mentorship matters: Having experienced mentors to guide leadership decisions can be invaluable in avoiding common pitfalls.  Systemizing culture: Building a solid company culture requires transparent processes, and aligning compensation with company values ensures long-term organizational health.    In the next post, I'd like to share some insights we gained from the third session on the second day. #HECParis #HECParisMBA #Entrepreneurship #Acquisition #SearchFund #EntrepreneurshipThroughAcquisition #ETA

We are excited to introduce our new ambassador of HEC search fund club: Marcus Twigg Marcus brings a diverse background in finance, with experience in large corporations in Hong Kong and South Africa, and start-ups in Paris. His expertise in data analysis and strategy, along with his passion for sustainable investing, demonstrate his commitment to making a positive impact. Marcus’s leadership and adaptability make him a valuable asset to our team. Welcome aboard! #HECParis #HECParisMBA #MBA  #SearchFund #Leadership #Innovation #Finance 

🚀 Takeaways from IESE’s 6th International Search Fund Conference(2/5)🚀    Today, we would like to share our thoughts on the first session on the second day at the conference and the takeaways we gained.    📊 Topic 2: Transforming the Organization This session highlighted powerful real-life examples of how search fund entrepreneurs have grown their companies by embracing transformation and strategic scaling. Sandro, the Managing Director & Co-founder of Relay Investments, shifted from a mail-order model to e-commerce, which resulted in significant revenue growth, doubling his company's size by expanding digital capabilities and hiring more drivers to enhance logistics.  Similarly, Rob, the Managing Partner of Legate Partners, shared his experience of developing a Canadian company in the US and the Philippines, growing from 180 to over 1,300 employees. Both examples underscored the critical role of talent acquisition and the importance of maintaining company culture during rapid scaling.    Key Takeaways:  Strategic transformations: Transitioning from traditional business models to more scalable digital platforms, such as e-commerce, can profoundly impact growth.  Geographic expansion: Expanding into new markets increases revenue and presents unique challenges in managing operations across borders.  Talent management: Scaling a company requires a strong focus on acquiring top talent and building a culture supporting growth across different regions.  Leadership adaptability: Adapting business strategies and leadership styles to meet new market demands is essential for long-term success.    In the next post, I'd like to share some insights we gained from the second session on the second day. 

🚀 Takeaways from IESE’s 6th International Search Fund Conference(1/5)🚀    We attended the 6th International Search Fund Conference. Not only did each lecture provide cutting-edge insights, but the conversations with the participants during coffee and cocktail times contributed greatly to networking in the search fund world. We would like to thank the IESE Entrepreneurship and Innovation Center for hosting this event, and everyone who helped make it happen.    From now on, we would like to report on the reflections and takeaways. There will be a total of five posts.    📊 Topic 1: Search funds 2024, an update   The latest report on global search fund activities shed light on the increasing popularity of this investment model. As of 2023, more than 1,100 search funds had been launched worldwide, showing remarkable growth in both the US and international markets. The acquisition rates differ, with 57% in the US and 79% internationally. While business acquisition metrics—such as purchase prices and EBITDA multiples—remain consistent across regions, there has been a notable shift in industry focus from technology to services in some areas. Speakers also emphasized the challenges that come with seller retraction and the critical role that investor support and rigorous due diligence play in ensuring successful acquisitions.    Key Takeaways:  Global reach: Search funds have expanded rapidly beyond the US, with increasing activity in Europe, Latin America, and other regions.  Acquisition success: The US seems to be still the main place for search fund, but a higher international acquisition rate showcases the potential of search fund worldwide. Industry shifts: While technology has traditionally been a dominant sector, recent fluctuations show that services and healthcare are gaining traction, keeping us all informed about the changing trends in the industry.  Due diligence: Thorough analysis and strong investor backing remain key to overcoming the challenges posed by seller reluctance, ensuring the industry's commitment to quality.    In the next post, I'd like to share some insights we gained from the second lecture. 

HEC Paris Search Fund club is happy to share its new leadership team 🌍 What is a Search Fund ? A search fund is an investment vehicle formed by individuals who deploy privately raised capital to search for, acquire, and actively lead privately held companies for the medium term. It is a unique entrepreneurial avenue with a blend of #investment, #entrepreneurship, and #leadership. 📈 Our vision for the club We aim to raise the awareness of the HEC community in search funds and empowers aspiring entrepreneurs with knowledge and network to start a buy-and-build journey. 🌟 Join us on this exciting journey Our bright team members are Diego Montoya Cueva, Lambert van Sittert, Kyosuke (Ray) Tomoda, Sujeet kumar Kotalwar, Omoyeni Ogunnaike, Bhanvee Jain, Duby-García, and Shogo Kodama. No matter if you are a budding entrepreneur, a curious student, or an experienced professional fascinated by Search Funds, the HEC Paris Search Fund Club welcomes you. Join us as we embark on an exciting journey into the unexplored realms of search funds, turning possibilities into remarkable successes. 🔗 Stay connected Follow our journey, join our events, and be a part of the conversation. #HECParis #HECParisMBA #SearchFundClub #Entrepreneurship #Innovation #Networking

HEC Paris Le Chateau, April 3rd 2024. During this iconic day, HEC Search Fund Club held its Entrepreneurship Through Acquisition conference, marking a significant milestone for the current and emerging generation of entrepreneurs. It was a day charged with vibrant insights, thoughtful dialogue, and an undeniable spirit of innovation. We extend our deepest appreciation to Madame Olivia Gregoire, whose stellar keynote address and dedication to invigorating the landscape of Entrepreneurship Through Acquisition in France left us all inspired. Her vision and efforts as the French Minister Delegate for Enterprises, Tourism, and Consumption remind us of the boundless possibilities awaiting in the realm of business creation and growth. Our gratitude extends to the luminaries who graced our roundtable. Jan Simon, your global perspective is invaluable. Karen Spencer, your pioneering wisdom in the industry continues to lead the way. Ariane Olive, your foresight into French ETA is truly revolutionary. Bruno LEA Léa, as France's first to navigate these waters successfully, your journey offers profound lessons. Patrick El Hajj, your path in the industry carves a hopeful future for many. A special thank you to Dean Brad Harris for opening the conference with such heartfelt words, setting a warm and welcoming tone for the event. The success of this conference was made possible by the meticulous efforts of our events team, Anne DELANOY, David Pawlowski, and the dedicated HEC Chateau team led by Aude Moinard. Your commitment and expertise did not go unnoticed. And to the HEC Search Fund Club leadership team - Romaric Ngambo, Yoko Omuka, Roger Romero Borda, Adinda Pratiwi, Mohit Babel, Nishka Hemrajh, Shogo Kodama, Kyosuke « Ray » Tomoda, Hugues Dorsi Di Meglio, Neha Chauhan, Adrian Leal, Kei YOSHIDA, Akshat Mehendale - this achievement is ours collectively. Your hard work, passion, and teamwork are what brought this vision to life. HEC Paris has always been a cradle for entrepreneurship, and it is our fervent hope that we continue to nurture and unleash the potential of a new generation of entrepreneurs in the field of Entrepreneurship Through Acquisition. #HECParis #HECParisMBA #Entrepreneurship #Acquisition #SearchFund #Business #Leadership #Innovation