Insights
South Highland Ventures shares perspectives on operator-led buyouts, ownership succession, lower-middle-market acquisitions, and the practical work of building enduring private businesses.
Press Releases
May 14, 2026 - South Highland Ventures Announces First Close of SHV ETA Fund I and Addition of Megan Manning as Venture Partner
South Highland Ventures announced the first close of SHV ETA Fund I, LP, an operator-led acquisition fund focused on acquiring and growing established lower-middle-market businesses facing succession challenges. The firm also announced the addition of Megan Manning as Venture Partner.
ETA & Search Fund Resources
Entrepreneurship Through Acquisition, or ETA, is a path where an entrepreneur or experienced operator acquires and leads an existing private business rather than starting a company from scratch.
Search funds are one model within the broader ETA ecosystem. In a traditional search fund, investors back one or more entrepreneurs to search for, acquire, operate, grow, and eventually exit a private company.
South Highland Ventures focuses on operator-led buyouts, a related model centered on pairing experienced operators with established founder- and family-owned businesses facing succession challenges.
Key Definitions
Entrepreneurship Through Acquisition
Entrepreneurship Through Acquisition, or ETA, refers to entrepreneurs or operators acquiring and leading existing businesses as a path to business ownership and growth.
Search Fund
A search fund is an investment vehicle through which investors financially support an entrepreneur’s effort to identify, acquire, manage, grow, and eventually exit a private company. Search funds are one established model within the broader ETA ecosystem, with decades of research and teaching associated with institutions such as Stanford GSB, IESE, Harvard Business School, and others.
Operator-Led Buyout
An operator-led buyout is an acquisition where an experienced executive or entrepreneur steps into a leadership role after acquiring an established private company, often with support from investors, advisors, and operating partners.
Research & Resources
Entrepreneurship Through Acquisition
Entrepreneurship Through Acquisition, or ETA, refers to entrepreneurs or operators acquiring and leading existing businesses as a path to business ownership and growth.
IESE Business School — International Search Fund Center
IESE’s International Search Fund Center tracks search funds outside the United States and Canada and publishes biennial research in collaboration with Stanford GSB.
IESE International Search Fund Study 2024
The 2024 IESE international study covers search funds formed outside the United States and Canada, with a sample set spanning 40 countries and five continents.
SearchFund.org
SearchFund.org describes its mission as acting as an educational resource for entrepreneurs and investors interested in Entrepreneurship Through Acquisition and search funds.
Searchfunder
Searchfunder describes itself as a leading community for search funds, independent sponsors, and private equity participants in the lower middle market.
Search Fund Coalition
Search Fund Coalition provides resources, interviews, deal walkthroughs, templates, and curated ETA insights for the search fund ecosystem.
Additional Resources
INSEAD — Entrepreneurship Through Acquisition & Search Funds Hub
INSEAD describes ETA and search funds as a pathway for entrepreneurs to acquire, manage, and grow businesses, including in situations involving succession challenges.
NextGen Growth Partners — ETA Resource Library
NextGen Growth Partners maintains a practical ETA resource library with articles, books, podcasts, and videos related to entrepreneurship through acquisition and search funds.
These resources are provided for educational purposes only. Inclusion of third-party resources does not imply endorsement by South Highland Ventures or any affiliation with the listed organizations.