In this episode of The Neural Zen Podcast, we sit down with Lacey, founder of Hunter Search Capital and one of the most experienced voices in the search fund ecosystem. She shares her journey from growing up in a small business family in Minneapolis to raising her third search fund. We dive into what makes a great searcher, red flags investors look out for, how deals fall apart, and why long-term thinking and self-awareness are essential in ETA (Entrepreneurship Through Acquisition).
Lacey also shares insights on AI’s early impact in operations, underrated metrics, and lessons learned from both family office and institutional investing. If you’re even thinking about raising a search fund, this episode is essential listening.
📍 Topics Covered:
Lacey’s path from Stanford to launching Hunter Search Capital
What investors look for in a searcher (and red flags to avoid)
The real reasons deals fall through
How search has evolved beyond elite MBAs
Metrics that matter (including why SAM > TAM)
Advice for anyone exploring ETA