
In this episode of the SMB Investor Podcast, Sean Smith (Managing Partner, Search Fund Ventures; Founder, SMB Investor Network) sits down with Christien Louviere, Co-Founder of BDE Capital, to explore the journey from venture capital and startup founding to becoming an independent sponsor in the lower middle market.Christien shares:- Why BDE Capital focuses 80% on healthcare and 20% on B2B services- How his team evaluates leadership, talent, and sales models before acquiring a business- The advantages of significant rolled equity in aligning seller and buyer incentives- Unique due diligence techniques using AI for scenario analysis on management teams- Lessons learned from both venture-backed exits and SMB acquisitions- Deal structure tips for independent sponsors, including equity roll, milestones, and avoiding overreliance on seller notesWhether you’re an investor, operator, or entrepreneur looking to buy and grow established businesses, this conversation is packed with actionable insights on sourcing, structuring, and scaling acquisitions.📌 Subscribe for more interviews with top SMB investors, operators, and dealmakers.💬 Leave a comment with your takeaways or questions about independent sponsor strategies.🔗 Christien Louviere on LinkedIn: https://www.linkedin.com/in/christienlouviere/🔗 BDE Capital: https://bdecap.com/🔗 Sean Smith on LinkedIn: https://www.linkedin.com/in/sean-smith-47ab2a70/🔗 SMB Investor Network: https://www.smbinvestornetwork.com/