"Search funds provide a means for entrepreneurs to search for, acquire, manage and grow a company.
Search funds have started flipping the script on generalists winning in a largely specialized business environment. The efforts of a specialized thesis have recently proved more fruitful than the opportunistic approach, as Stanford's 2020 Search Fund Study found, "Searchers who focus their search, as well as developing and adhering to a systematic approach of creating deal flow and analyzing deal opportunities, have a higher likelihood of identifying and closing an acquisition."
Although the inspiration for a thesis and industry vertical might be apparent based on the searcher's passions and past experience, often finding an enterprise that fits the search mold could prove challenging."