Mastering the art of entrepreneurship through search funds and acquisition

Expert panel of fundraisers and investors recount experiences of buying and growing business ventures.

Identifying the right opportunities, investing in the right people, and knowing your own limitations were just three key lessons, as a panel of experienced founders and investors spoke at Bayes Business School about their trials and tribulations to students and aspiring entrepreneurs.

The evening was hosted by Professor Costas Andriopoulous, Associate Dean for MBA Programmes and Director of Bayes X – the Centre for Innovation and Disruption.

The session began with a Q&A with Jay Verjee, Founder of Addition Capital.

“Look for where you can add value through small things and ask ‘where is my low-hanging fruit’?”

Mr Verjee recalled his journey with an ergonomic furniture manufacturer to outline the benefits of acquiring and running small businesses – namely the lower risk attached to setbacks and their more personal nature – and the risks and challenges associated with growing. He then engaged with a wide range of audience questions about raising capital, recommended levels of self-funded equity, and how to spot “low-hanging fruit” for investment.

Following the discussion, Mr Verjee was joined by Ashwin Grover, Co-Founder of child nursery group Storal, and Max Silver, Co-Founder of Euston Ventures – a specialist acquirer of B2B industrial and manufacturing companies – for a panel discussion.

“We made silly mistakes through not hiring the best person straight away… if you’re raising £5 million to complete a deal, raise £200,000 more to invest in the team”

Themes of conversation centred on how to most effectively finance a deal, accepting gaps in knowledge to hire experienced leaders, and bouncing back from failures and mistakes. The panel was chaired by Philippos Kassimatis, co-Founder of capital markets advisory firm Maven Global, and attracted strong audience participation on topics of accumulating knowledge of a target, finding the right people to manage operations and knowing when to step away from a deal.

Professor Andriopoulos said the evening provoked a useful discussion about the art of identifying opportunities.

“Bayes X aims to serve as a dynamic hub for both disruptors and those interested in start-ups, corporate and public sector innovation,” he said.

“Successfully acquiring and running ventures requires a mix of expert judgement, proficient networking skills and bold ambitions. This event shone a light on the experiences of several accomplished investors who all had captivating stories to tell from their careers.”

The audience included a mix of Bayes postgraduate students, academics, alumni and entrepreneurs – producing high quality questions and participation.

“As well as taking inspiration from their successes, it was highly valuable for our guests to hear the humility of panellists at things they might have done better and where they had suffered setbacks,” Professor Andriopoulos continued.

“In particular, it was interesting to hear them speak about the value of hiring the best people to run their new companies, in recognition of the fact they themselves did not always possess the time or sector knowledge to successfully do so.

“My thanks go to Jay, Ashwin, Max and Philippos for providing such an entertaining and enriching session.”

Read more about Bayes X, Bayes Business School’s Centre for Innovation and Disruption.

Find out about further upcoming events at Bayes Business School.

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