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What is Entrepreneurship Through Acquisition (ETA)?

Entrepreneurship Through Acquisition, sometimes called search funds, micro private equity, or simply, “search”, is a unique approach to entrepreneurship. Rather than build a company from the ground up, aspiring entrepreneurs acquire an existing company with the goal of operating to drive growth.

Historically this was available to those with personal capital. Over the past 15 years, a dedicated industry has emerged to provide capital, guidance and resources to searchers.

Why is Search (ETA) growing so rapidly?

In the last 3-5 years, Search, or Entrepreneurship Through Acquisition, has left the niche halls of a small handful of Ivy League business schools and become a viable career path for mid-career entrepreneurs.

There are several factors driving this growth:

• Demographic tailwinds – Baby Boomers are entering retirement age and most are without a succession plan for their business.
• Broader awareness – The success of early searchers is being documented and drawing more resources into the space.
• Expanded capital access – There are more lenders and investors than ever before ready to provide funding.

What is Search Fund Primer?

Search Fund Primer is a resource hub for entrepreneurs pursuing ETA. We provide clear, realistic guidance and practical tools to help you navigate the search, acquisition, and ownership journey.

Search is an exciting opportunity, but the headlines often oversimplify and distort the reality:

• Most searches are not quick or linear.
• The process is long, unpredictable, and can be isolating.
• Acquiring the business is only the first step, operating is an entirely different skillset.

This site exists to provide a measured, realistic view of the search process.

What You’ll Find on Search Fund Primer:

• Helpful, accessible resources for every stage of the journey: from deciding whether to search, to sourcing deals, to post-acquisition operations.
• Unbiased information grounded in data. No sales pitches, no “one-size-fits-all” playbooks.
• Practical insights drawn from operators, investors, and industry veterans.

To get started, check out some of our most popular articles: