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Former St. Louis startup founder is on the hunt for his next business. Here's why he won't be building it from scratch

via St. Louis Inno

"About a year and a half ago, when Nick Akers began an effort to buy a business, he wasn’t familiar with the 'search fund' concept.

'At that time, I had never heard of the term search fund. I was just trying to figure out how to potentially buy an existing business,' he said.

Traditionally, search funds involve aspiring entrepreneurs seeking capital to fund their search for a company to acquire and operate. The appeal to investors is that, typically, they would get the option to participate in the deal if one results from the fund.

Akers shifted his focus to the search fund concept. In doing so, he has been accepted into the Entrepreneurship Through Acquisiton program of Swiss-based Novastone Capital Advisors, which provides both funding and guidance for people seeking to make an acquisition."