INSEAD ETA and Search Funds Podcast
INSEAD ETA and Search Funds Podcast
Podcast Description
INSEAD’s ETA and Search Funds Podcast explores the dynamic world of Entrepreneurship Through Acquisition (ETA), offering valuable insights for entrepreneurs and investors alike. Each episode showcases individuals from across the ETA journey—entrepreneurs in various stages, from search to operations to exit, as well as experienced investors—while showcasing success stories and lessons learned.Entrepreneurs can gain practical strategies to navigate acquisitions and lead businesses effectively, while investors discover how ETA can generate returns while fostering economic growth. With a spotlight on addressing the global succession crisis, the series highlights ETA’s potential to ensure business continuity and preserve legacies. Whether you're curious or committed, this podcast equips you with actionable knowledge around the topic of to ETA and Search Funds.
Podcast Insights
Content Themes
The podcast covers topics related to Entrepreneurship Through Acquisition (ETA), providing episodes focused on individual journeys, operational challenges, fundraising strategies, and market dynamics, with examples like Monika Wincel's pioneering experience in Poland's ETA scene and the analysis of global succession crises related to business sustainability.
INSEAD’s ETA and Search Funds Podcast explores the dynamic world of Entrepreneurship Through Acquisition (ETA), offering valuable insights for entrepreneurs and investors alike. Each episode showcases individuals from across the ETA journey—entrepreneurs in various stages, from search to operations to exit, as well as experienced investors—while showcasing success stories and lessons learned.
Entrepreneurs can gain practical strategies to navigate acquisitions and lead businesses effectively, while investors discover how ETA can generate returns while fostering economic growth. With a spotlight on addressing the global succession crisis, the series highlights ETA’s potential to ensure business continuity and preserve legacies. Whether you’re curious or committed, this podcast equips you with actionable knowledge around the topic of to ETA and Search Funds.
The search fund model is no longer a North American story.
In this episode of the INSEAD ETA & Search Funds Hub podcast, host Kudirat Olateju speaks with Andrew Locke and Neil Wyma; both INSEAD alumni and partners at Ambit, about how they’re backing exceptional entrepreneurs across Europe, Latin America, APAC, and the Middle East. Their journey began at INSEAD, where they first heard Will Thorndike and Simon Webster speak about search funds, sparking a collaboration that would eventually become Ambit six years ago.
Andrew and Neil break down Ambit’s “Talent First” philosophy: they don’t choose geographies or industries upfront; instead, they back the best talent and let searchers define their own markets and career paths. This approach has led to a globally diversified portfolio, with roughly half their investments in Europe, 20% in Latin America, and growing activity in the Middle East, India, and Brazil. They explain how they evaluate searchers while layering in additional criteria for newer markets, including local networks and quality cap tables.
The conversation explores what makes search fund cap tables unique; and Andrew and Neil share patterns they’ve observed in successful searches. They also candidly discuss the emotional reality of searching. Closing their oversubscribed $60 million Fund II has allowed Ambit to expand their team, and continue to see the search fund industry evolve; which they share the details behind.
Grounded, insightful, and full of real-world lessons, this episode captures what it takes to build companies and careers through ETA in markets all over the world.
Chapters
00:00 Introduction to Entrepreneurship Through Acquisition
01:22 Journey into the Search Fund Ecosystem
04:05 Understanding Ambit Partners and Its Model
06:08 Searcher-First Approach in Emerging Markets
10:59 Evaluating Searchers: Key Criteria for Success
13:39 Ambit Portfolio Overview and Regional Insights
18:06 Patterns of Success in Search Funds
26:15 Balancing Traditional Criteria with Market Realities
29:03 Learnings from Fund One and Future Directions
33:47 Parting Advice for Aspiring Searchers
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