Search Fund Services

Accounting Services for Search Funds

Business acquisition and search fund advisory services for entrepreneurs

Mowery & Schoenfeld helps aspiring entrepreneurs with limited capital resources search for and acquire a company they can manage and grow, providing them a path for owning and building a business. We have the expertise to help you set up and operate a search fund—an investment vehicle that connects a middle-market firm with the entrepreneur and investors who buy and manage the company.


Search Fund Services We Offer

Navigating transactions with expertise and insight

Close deals with established and professional due diligence, structuring, and negotiation support that ensures smooth transactions for buyers and sellers.

Ensuring financial confidence for the search fund industry

Make informed decisions with verified, reliable financial audits and reviews that instill trust in potential investors.

Advising and guiding your search fund journey

Receive strategic insights, industry expertise, and operational support to identify and capitalize on growth opportunities.

Optimizing tax strategies for search fund success

Leverage tax laws and regulations to minimize liabilities while maximizing investment returns—all while staying compliant in your industry.

Personalizing wealth solutions for search fund entrepreneurs and investors

Plan for your financial future as a search fund entrepreneur or investor with tailored strategies that optimize accumulation.

Empowering decision-making in the search fund sector

Engage with our team for CFO and outsourced accounting services for search fund businesses.

Maximizing wealth opportunities in search funds

Receive comprehensive investment management, financial planning, and risk management solutions tailored to search fund entrepreneurs and investors.

What Is a Search Fund?

A search fund is an investment vehicle where an entrepreneur raises capital from investors to finance the search for and acquisition of a privately held company. The searcher typically seeks to acquire a profitable, established business with growth potential, aiming to become the CEO or operator post-acquisition. 

Investors provide funding during the search phase and contribute to the acquisition when a suitable target is identified. The ultimate goal is to grow and exit the acquired company within a defined timeframe, generating returns for both the searcher and investors. Search funds offer investors exposure to diversified small business investments while providing entrepreneurs with an opportunity to lead and grow established companies.

How We Can Help Navigate Your Search Fund Process

  1. Raising Search Capital

    Entrepreneurs raise capital by selling units, or shares, in the fund to investors. This capital is used to support salary, administration, and travel and deal-related expenses.

  2. Identifying and Acquiring a Company

    After determining a potential target company, we help the entrepreneur evaluate factors such as the industry, current economic conditions and the owner’s willingness to sell. If the decision is made to purchase the company, the entrepreneur structures and negotiates the deal, performs due diligence, secures financing and plans the transition itself.

  3. Operating and Creating Value

    During the third stage, new owners immerse themselves in their business, after which they focus on managing and growing the company. Value creation results from operational improvements, increased marketing and sales, and/or expansion into new markets.

  4. Exiting the Fund 

    The average length of time for holding a search fund is seven years. At the end, the principals and investors evaluate exit strategies so they can gain liquidity and realize returns. Liquidity occurs through dividend distributions, an equity recapitalization, an initial public offering or a sale.

Why Partner with Mowery & Schoenfeld for Search Fund Services

We are committed to helping entrepreneurs succeed. Our experienced professionals provide entrepreneurs with personal assistance throughout the process, building successful working relationships that we hope will lead to future investments.

  • Quality of earnings due diligence
  • Tax return preparation, planning, projections and advisory services
  • Individual tax services to stakeholders
  • Transaction structuring and planning
  • Due diligence
  • Attestation

Learn About Our Transaction Support

Get Started with Search Fund
Services from Mowery & Schoenfeld

Talk to a search fund advisor today.


Search Fund Resource Center

Explore resources and thought leadership from the search fund experts at Mowery & Schoenfeld.

At Mowery & Schoenfeld, we partner with you to navigate the complex and often high-risk situations inherent in the search fund process. Our resources are designed for each stage of the fund process.

Primary Contacts

Michael Kidd

Partner, Director of Transaction Advisory Services
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