Software is eating the SF world

When we started investing in search funds almost eight years ago, we thought that the retirement of the baby boomers would lie at the heart of our investment…

Building a search fund cap table – A European perspective

There are many aspects of the search fund journey that lie outside the control of the entrepreneur. A mix of both skill and luck dealing with this uncertainty is…

Istria Capital: Year in review 2022

Another interesting year in the search fund space. Let’s start with Istria’s activity: Invested in 26 search funds (including four that fundraised last year but launched in January).…

How many investments make an ideal search fund portfolio?

As an investor managing a fund of search funds, I spend a lot of time reflecting on portfolio construction. A question that I think hard and often about, is…