We believe the way prospective entrepreneurs think about ‘type investors’, in Search Funds and Private Equity, is too siloed. Potential investors get a label of Capital Allocator, or Operator/Entrepreneur. But companies need both. CEO’s want diversified cap tables - which have enough ‘funds’, enough ‘investors who know much about deals’, and, enough ‘operators’. Yes, you want that. But what you need is time from your partners. And a working relationship in which you dare to pick up the phone to ask the supposed dumb questions. And they don’t exist. 

Novidam’s people have lived each phase of the entrepreneurial finance journey, deeply. Including the pains. We’ve lived the risk of starting businesses from nothing and finding the little first bit of capital, (Prudential Tower, Boston MA, 2014). Next, the stress and endless grind of finding a proper business while working tirelessly with Sellers and crafting a relationship (with the key LOI expiring multiple times pre-close, 2015). The phase and the delicacy of closing a deal, while at the same time raising Seller Debt and managing expectations of a Selling Entrepreneur, 2016. Putting together Senior Lender and Mezz Lender financing, critically assessing covenants without knowing the business (2015, 2017, 2019, 2022). Finalizing a cap table and recruiting a Board of Directors (getting that right is so important!). Next, working with them, navigating Board Meetings. Refinancing balance sheets incl. difficult bank ‘work-out-groups’ and acquiring competitor companies from lender hostility in times of equity distress (multiple occasions).  Regional M&A, financing and integration of tuck-ins (>10x). Operating a business and leading teams (throughout – the most difficult and stressful piece).  Raising equity for long-term and short-term M&A (2016, 2017, 2022).  Selling a group of companies somewhat unexpectedly and unplanned, an overwhelming undertaking (2022). Sound intriguing?

With us, you have people in your corner who have lived most experiences of your upcoming or present journey.  We know what it’s like to roll up our sleeves. First time CEO’s often struggle to ask questions. ‘You’re managing others’ money after all, you need to know everything’. You don’t. We want to hear those questions and collaborate with you. The Search Fund world is about collaboration and alignment. Each improvement and small detail shared, to problem-solve together, benefits all stakeholders. 

We are global investors. Our invested capital weight, from an investment portfolio standpoint, is geared to the United States. With Europe as a close second. But we do not discriminate anywhere, geographically. We have companies and searchers in Southeast Asia as well as in Latin America (2023). In new or less active search fund regions (be it for limited lender capacity, higher interest rates, floating exchange rates, different educational backgrounds of talents, or smaller TAM’s, we opportunistically assess next will approach with extra rigor. But we don’t shy away. In sound macro-economic climates and where we can perform thorough due diligence, we believe the drivers of successful long term returns come mostly from the unique combination of the right entrepreneur and the right business. In the right niche. 

We have significant Assets Under Management outside the United States, which we structure into our three investment segments (Search Funds, Private Equity, Long Term Holds), with responsibilities and governance separated. We have active team members to help our companies flourish in offices in New York, London and Amsterdam.