Just read this on the Wall Street journal, that there is a venture fund by the name of Pacific Lake Partners who actively seek out young entrepreneurs, give them enough money to scout around for the right organization to takeover. Then help them acquire that organization for a healthy return.
You can read the rest of the article here. An excerpt -
Pacific Lake will provide between $300,000 and $500,000 to entrepreneurs to cover living and travel expenses for two years while they search for a business opportunity – generally an established business with revenue between $10 million and $30 million. There’s no sector focus; it all depends on the opportunity the entrepreneur finds.
It feels good to know that there is a venture fund who values someone who can not only boot strap an organization but take on an already running organization and turn it around. This is the stuff of what legends are made up of. All of the awe-inspiring case studies that we used read in our b-schools have suddenly come real. I wonder if any VC or angel investor follows a similar policy in India. As a developing economy, we need increasing number of such folks.
