THE MODEL

What is a search fund?

Born in 1984 at Harvard Business School, the search fund model has become a popular vehicle to back ambitious entrepreneurs who want to buy and run their own business.

According to the Stanford Graduate School of Business 2026 Search Fund Study, the model has generated over US$9.8 billion for investors and over US$2.4 billion for entrepreneurs as of 2021.

While the model has gained traction in the Americas and Europe, it's only just getting started in Australia. In August 2021, SMEVentures completed Australia's first-ever search fund deal with the acquisition of ACE Training, now led by search fund entrepreneur Rob Gaunt.

Dive into these free resources below to begin your search fund journey.

Illustration of an Australian main street with local businesses

FREE STUFF

Free search fund stuff.

Download our reading list, industry ideas, and more. One email unlocks all five.

Reading list

The most relevant reads for searchers. Books, blogs, and podcasts that keep you going, whether you're considering search or already in it.

Industry ideas

Sector ideas to get your creative juices flowing. The possibilities are wide, .treat it as a starting point, not a finish line.

Due diligence checklist

A comprehensive starter DD list. Customise it per deal, and remember to hold your seller's hand through the process. Step by step, not all at once.

Lessons learned

Over 100 lessons from the global search fund community. Every stage of the process, from raise to acquisition to operating. Read with intent.

Attorneys & accountants

Search-fund-friendly professionals recommended by searchers globally. Not exhaustive, if you know someone who should be on this list, tell us.

ANZ market insights

Local data, trends and observations on the Australian and New Zealand search fund market.

WHAT SEARCHERS SAY

Used by searchers around the world.

“I want to extend a thank you to you for your blog and resources. The content you provide has been incredibly informative and insightful for me. Thank you and please keep it coming!”

Graeme Buchan

France

“I very much appreciate what you're doing for the SF community.
Your writings on SME are a lot.”

Martin Kominek

Czech Republic

“Read through the resources on your website. They're fantastic, thoughtful pieces. Appreciate the contribution. Though they're very common sense, in the commotion of this journey, you lose some of that perspective.”

Divye Goyal

Australia

Resources

What is a search fund?

Free search fund stuff.

Used by searchers around the world.

The search fund blog.

Podcast: Formeds: Waldemar Pilch

Why 43% of Searchers Never Acquire a Business

How Working Capital Works (And Why It Matters More Than You Think)

Come talk to us.