Independent Sponsors or Search Funds – Which is Right for You?

About the Episode

The role of independent sponsors as investors is growing in the M&A world. Bakari Akil is an acquisition entrepreneur, and he shares his inspiring story of learning the ins and outs of buying companies and provides tips on getting started. He defines independent sponsors and search funds, clarifies the differences between these acquisition models, and discusses the role of the investor. Bakari also talks about his experience as a digital nomad and the lessons he’s learned while working around the world.

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“The most revolutionary business realization for me was learning that you can buy a company as an individual. The opportunity is available, and the capital is available, and it can be done – you don’t need to be a massive corporation to complete an acquisition.” 

Bakari Akil

In this Episode

Learn More About This Episode

• The Basics of Independent (Fundless) Sponsors in M&A

Listen to Other Episodes

• What Sellers Should Know About Selling Their Business to a Search Fund
• The Basics of Selling Your Business to an Independent Sponsor

Resources Mentioned in This Episode

• Richard S. Grant 
• Graves Hall Capital 
• Remote Year
• Travel As Transformation: Conquer the Limits of Culture to Discover Your Own Identity by Gregory V. Diehl
• “Why Should White Guys Have All the Fun?”: How Reginald Lewis Created a Billion-Dollar Business Empire by Reginald F. Lewis and Blair S. Walker
• Keep Going No Matter What: The Reginald F. Lewis Legacy: 20 Years Later by Ponchitta Pierce
• Why Should Guys Have All the Fun?: An Asian American Story of Love, Marriage, Motherhood, and Running a Billion Dollar Empire by Loida Lewis and Blair S. Walker
• HBR Guide to Buying a Small Business: Think Big, Buy Small, Own Your Own Company (HBR Guide Series) by Richard S. Ruback and Royce Yudkoff
• Buy Then Build: How Acquisition Entrepreneurs Outsmart the Startup Game by Walker Deibel
• Search Fund Primer from Stanford’s Center for Entrepreneurial Studies
• Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue by Jacob Orosz
• The Art of the Exit: The Complete Guide to Selling Your Business by Jacob Orosz

Terms Mentioned in This Episode

• SBIC: Small Business Investment Corporations
• SBA: Small Business Administration
• VCs: Venture Capital Firms

Meet Our Guest

Bakari Akil

Acquisition Entrepreneur | New York, USA

Bakari Akil is the Director of Corporate Development at TriMech and an acquisition entrepreneur, founding Graves Hall Capital to acquire companies. In 2023, he acquired a $35 million burlap bag manufacturing company with Granite Creek Partners, LLC, where he recruited the company’s CEO and sits on the board of directors. In 2021, he executed the acquisition of a $25 million educational technology company with Iron Creek Partners, LLC.

Bakari has previously served as the Director of Corporate Development for an engineering software company, been the Head of Mergers and Acquisitions for an artificial intelligence company, and Director at a technology-focused private equity firm. In each role, Bakari was responsible for sourcing, evaluating, and executing multi-million dollar acquisitions. Bakari is also a visiting lecturer at Cornell’s Graduate School of Management, where he teaches MBA candidates how to buy businesses.

LinkedIn: https://www.linkedin.com/in/bakariakil/