"When Nick Akers set out to buy a business in late 2021, his search process had a 24-month timeline attached to it. He figured he wouldn’t need that much time, hearing that those in a similar situation typically are successful around the year and a half mark.
'That’s exactly how mine panned out,' Akers said.
...
Akers bought STL Communications Inc as part of a search fund process that involves aspiring entrepreneurs raising capital to fund a search for a company to acquire and operate. Typically, as was the case in Aker’s deal, investors in the fund get the option to participate in the acquisition if one results from the initial search fund."