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Following the successful first close of Ventus Capital Partners Fund I, we sat down with the team to discuss the fund’s vision, early traction, and what’s ahead as it gears up for the next phase of fundraising.
What does the first close represent for Ventus, and what progress have you made since the announcement?
The first close was a key milestone, as it validated our thesis and enabled us to scale a strategy we had already begun with our own capital last year. Before raising a single dollar from outside investors, we had started funding searchers directly — demonstrating our conviction in the model and gaining early insight into opportunities worldwide.
Since then, we’ve continued that momentum: we’ve partnered with an initial group of outstanding searchers across the U.S., Latin America, and Europe, and are already reviewing some acquisition opportunities that reflect the fund’s global reach. We’ve observed encouraging interest from investors and searchers— clear evidence that the market is responding positively to both the strategy and the early results.
What prompted you to launch a global fund of SFs, and why is now the right moment?
Three powerful forces are converging. First, the “Great Wealth Transfer” — over the next 10–15 years, an estimated $100 trillion will pass from one generation to the next, much of it tied up in privately held businesses that often lack succession plans.
Second, there’s a new generation of professionals in their 30s seeking meaningful ownership opportunities and long-term value creation.
And third, investors continue to seek opportunities that align with their risk-return objectives. By combining these trends with a vehicle that already has capital at work, we’re positioned to capture opportunities at scale.
How would you describe Ventus’s edge in a growing SF market?
Our managing partners have decades of combined experience in private equity, M&A, and corporate finance — and, more importantly, in partnering with exceptional people to deliver superior results — at firms like Southern Cross Group and Anheuser-Busch InBev.
This blend of global investing expertise, hands-on operational know-how, and, above all, an obsession with Jim Collins’s principle “First Who, then What” enables us to partner with great searchers through every stage — from sourcing and diligence to post-acquisition value creation.
We also benefit from the guidance of seasoned advisors such as Norberto Morita, José Orlando, and Alejandro Stengel, whose diverse perspectives strengthen our governance and strategic decision-making.
How does the first close de-risk the opportunity for prospective LPs?
Our decision to deploy our own capital before the first close means that the strategy was tested before outside investors came in. Now, with first-close capital added, subsequent investors would join an already active vehicle with an existing pipeline of funded searchers and early-stage transactions.
This track record, combined with a strong network already in place, allows late-stage investors to join a vehicle that’s in motion and backed by tangible proof points.
What role does Ventus play beyond capital in supporting searchers and portfolio companies?
We consider ourselves true partners to the searchers we back. Beyond providing funding, we make ourselves available for strategic and operational discussions, share best practices, and support them in navigating the challenges of leading and scaling established businesses.
We’re firm believers in “high autonomy, high alignment” and in frameworks that promote genuine ownership — ensuring that searchers can benefit not only from our experience but also from the broader insights of our global network, while retaining the independence to chart their own path.
Looking ahead, what can the market expect from Fund I in the future?
We aim to expand to approximately 40 searchers and at least 20 operating companies worldwide, staying disciplined and selective as we grow.
Several acquisitions are currently under active review, and we anticipate a second closing within the next 12–18 months, subject to market conditions and investor engagement.
Our goal remains to execute one fund at a time, focusing on building a resilient and diversified portfolio that delivers attractive outcomes for entrepreneurs and investors alike.
What impact do you hope Ventus will have on the global SF community?
We see tremendous potential in several parts of the world — both in mature markets, where opportunities and searchers will continue to emerge, and in emerging markets, where awareness of the ETA model is still developing.
By partnering and collaborating with local institutions and business schools — a strategy we have already implemented with the IAE Business School in Argentina, and we are exploring with other MBA programs in Peru and Washington D.C. — we aim to broaden the pipeline of talented searchers, investors, and board members.
Over the next decade, we intend to play a meaningful role in expanding access to the model and in helping a new generation of owner-operators build enduring businesses, while preserving the essence of the search fund model.
Beyond your Global Fund of SFs, do you have any other strategies?
Alongside the Global Fund of Search Funds, we manage a complementary Independent Sponsor strategy that allows us to pursue select asymmetric buyouts on a deal-by-deal basis, particularly in Latin America.
This approach lets us act opportunistically, targeting transactions that are larger in size than a typical search-fund deal but follow a similar deal logic of the search-fund model — at greater scale. As a matter of fact, we recently signed an exclusive LOI for a transaction in the region that we expect to close in the coming months.
We view the Independent Sponsor strategy and our Global Fund of Search Funds as complementary strategies: the Global Fund offers systematic, diversified exposure to search-fund-led acquisitions, while the Independent Sponsor platform gives us the flexibility to capture compelling stand-alone opportunities that fit our investment philosophy.
The first close was only the starting line. With our own capital already at work from day one and increasing interest in the strategy, we aim to continue building a global platform that supports entrepreneurs in acquiring and growing strong businesses.
