Who is a typical searcher and what background do they have?

The typical searcher profile has evolved over the four decades of the search fund model but maintains consistent core characteristics. According to IESE's 2018 study, the average searcher is approximately 35 years old, though many are in the 30-40 age range, making them younger than traditional business acquirers but with sufficient professional experience to manage operations. About 90% hold MBA degrees from leading business schools, with Stanford, Harvard, Kellogg, and IESE being particularly well-represented. Geographically, 69% of searchers are North American, though European and Latin American participation is growing rapidly. Professional backgrounds typically include 5-10 years of experience in consulting (firms like McKinsey, Bain, BCG), investment banking, or private equity, providing strong analytical and strategic skills. However, searchers generally lack direct operational management experience, which is why investor mentorship is so crucial to the model. Increasingly, searchers with technical or engineering backgrounds from prestigious institutions (such as École Polytechnique, Mines ParisTech, or MIT) are entering the field, particularly when targeting technology-enabled businesses. The searcher personality type tends to be entrepreneurial but risk-averse compared to startup founders—they prefer to develop existing businesses rather than create from scratch. They are comfortable with ambiguity, persistent in the face of rejection during the search phase, and possess strong relationship-building skills essential for convincing business owners to sell. Many searchers cite a desire for ownership, operational control, and direct impact on business outcomes as primary motivations for choosing the search fund path over traditional corporate or consulting careers.