The Women in Search Funds 2023 Study, conducted by the Women’s Search Network, reveals significant growth in the number of women pursuing search as a career. Surveying over 100 female members, including 65+ current search CEOs and 40+ prospective searchers, the study explores various aspects of women’s experiences in search.
The profile of women searchers aligns with the general search population, with 80 pursuing traditional searches and 54 being search CEOs. Most women launch searches between ages 26 and 35, predominantly from MBA programs. Professional backgrounds include operations, management consulting, investment banking, and private equity.
Regarding the search process, 77% of women pursue traditional search funds, raising an average of $410k from 14 investors. Searches typically last 19 months, with recent cohorts having shorter durations. Notably, 60% of recent cohort women search solo. Finding businesses through proprietary searches, women average 2 LOIs before closing, and uncertainty is cited as the most challenging aspect.
The study indicates that being a woman has advantages, as 67% found it beneficial or irrelevant when engaging with business owners. Acquired businesses span various industries, with healthcare being a significant focus, and 20%+ are remote. Concerns of prospective searchers include geographic inflexibility, uncertainty, lack of female role models, and family planning.
However, the study debunks some concerns, revealing diverse backgrounds among searchers, controllable post-acquisition moves, and advantages of being a woman in engagements. Female searchers express high satisfaction levels, with 93% glad they chose search. The study emphasizes the need for highlighting successful women, candid conversations on family planning, and networking support.
In conclusion, the Women’s Search Network hopes that the growing community will encourage more women to consider ETA. The study plans to be repeated in two years, contributing to the ongoing progress of women in search funds.
Read the full case in:
https://drive.google.com/file/d/1yMYtL5QAd2KuDhtwjq06sHypXyfCzoce/view
