Search funds are quite an established thing among MBA graduates.

Upon completion of the program, some get a 2-year funding for searching a potential buy (that’s where search fund come from), typically a SME with an old owner and with replacement issues.

Once (if) found, the fund gets expanded with additional investors + debt in order to purchase and run the company

Target Companies are in the 5-20M$ revenue range, with high upside potential for growth