Connecting Global Capital to the Next Chapter of Chinese SMEs
Through the Entrepreneur-Through-Acquisition (ETA) model, we link outstanding searchers, mid-market businesses and long-term capital — solving succession, growth and cross-cycle allocation in one path.
How a Search Fund Works
Two-stage investing lets entrepreneurs become equity-owning operators (typically CEO) before accumulating the capital or experience to do it alone.
- 01
Search
Searcher + aligned investors form the vehicle and start an 18–30 month target search.
- 02
Acquire
Original investors pro-rata, new capital joins, the acquisition closes.
- 03
Operate
Searcher leads as CEO for 6–10 years, focused on operational excellence.
- 04
Exit
Strategic sale, IPO or buy-back — delivering attractive returns to all parties.
The China Opportunity
Why now, why China — a unique window for search funds.
A Wide-Open Market
Mature in the West, just beginning in China. By 2024, 681 funds had been raised in North America and 320 internationally.
Succession & Scale
China's first-generation founders are retiring with roughly RMB 18 trillion in family assets to pass on, typically to a single child; 57M+ private enterprises (92.3%) and ~98% SMEs lack a supported transaction market.
A Blind Spot for Mainstream PE
Typical targets carry EBITDA of USD 0.5–5M, are asset-light with ≥80% client retention and counter-cyclical revenue — attractive value, overlooked by mainstream PE.
Room for Operational Upside
Governance upgrades, compliance and technology iteration open wide room for long-term value creation.
What We Do
An integrated platform built around Capital + Talent, delivering one-stop, highly adaptive and execution-ready services across the enterprise lifecycle.
Search-Fund Investing
Phase-1 sourcing capital and phase-2 acquisition capital for searchers.
SME Succession
Match next-generation operators with high-quality SMEs facing succession.
Long-Term Allocation
Cross-cycle, low-correlation alternative assets for long-term LPs.
Cross-Border Network
Global perspective with deep local execution — resources that compound.
Start Your New Chapter
Whether you're a searcher, an owner or an LP, we'd love to talk.