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Two years ago, we published an article on the boom of accelerators, ETA platforms, and EIR models. One of the main arguments behind the flourishing of so many new players in the ETA space was that the traditional SF model is risky. Indeed, we are observing an increasing number of traditional searchers who conclude their search period without completing an acquisition (currently, we estimate a “failed” search rate of around 35–40%).
All these variations of the classic SF model are designed to reduce risk, increase throughput, and professionalize the ETA path. One of the biggest advantages is that the searcher does not feel alone throughout the process; thanks to the resources, mentorship, and sometimes capital provided, the searcher can focus on high-value activities from the outset and reduce the time needed to find a company to acquire.
Among the main services and advantages that accelerators offer are: access to committed capital and investor networks; streamlined infrastructure and administrative support; proven acquisition and growth playbooks; shared interns; expert guidance; deal flow and inbound leads; enhanced deal evaluation, due diligence, and legal support; board-level involvement; community; and preparation for the exit phase.
The pioneer was SFA (Search Fund Accelerator) in 2015, and the model has since been replicated in various ways. Currently, there are diverse models worldwide: single-investor models (where a sole investor, typically a PE firm, family office, or business angel, sponsors the search), accelerators, ETA platforms, EIR (Entrepreneur in Residence) programs, and PE funds focusing on succession and generational transitions with cohorts of searchers.
It must be acknowledged that the model works. Even if it has sometimes been controversial within the traditional community, who argue that one of the first challenges for a new searcher is to convince investors to back them and understand the model, we are now seeing many traditional SF investors supporting searchers who opt for these new paths and co-investing in transactions led by ETA platforms or EIR programs.
One of the most successful examples in Europe and North America is Novastone Capital Advisors (NCA), which has developed a team of over 40 professionals to support its searchers, completed 30 acquisitions, and achieved two exits (with a combined net IRR of 43%, demonstrating that this model works). In countries such as Japan, Germany, and Australia, this model has played a significant role. We are now seeing new players emerging across Europe (France, Belgium, Switzerland, Spain, etc.), and most have completed their first transactions in the past 12 months, demonstrating that they have a clear place and role within the ETA space.
If you are considering acquiring a company and are unsure whether to raise your own traditional SF or explore potential partnerships with one of these organizations, you can find more than 20 players in our directory:
https://searchfundsnews.com/accelerators
From our point of view, this is a good option for first-time CEOs seeking structured guidance and a faster ramp-up, or for operators who do not have extensive experience in M&A and structuring buyouts. These platforms can offer economies of scale in deal sourcing and a more predictable pipeline of acquisitions, generally shortening the search period.
These institutions reflect a clear trend: new models now represent a rising share of new searchers globally. They standardize training, sourcing, and investor alignment.
