Firm overview:

Anacapa helps entrepreneurs and lower middle market growth businesses reach their full potential. Founded in 2010 by one of the original search fund entrepreneurs, we are among the most active investors in the search fund community, and have invested in over 165 search funds and 65 operating companies. Our active portfolio collectively generates $425M in annual revenue. Anacapa predominantly invests in B2B services, B2B software, and healthcare services, and has significant expertise guiding CEOs through the unique opportunities and challenges of growing lower middle market businesses in these sectors. Our approach has delivered exceptional results for over a decade, and is defined by deep commitment to the success of the entrepreneurs we back and disciplined application of our investing lens. We are driven by our passion for business-building, and our desire to develop the next generation of entrepreneurial leaders.

The opportunity:

The new Director will become the seventh member of our investment team and an integral part of all aspects of our business. This is a key moment in the growth of Anacapa as we raise our fourth private equity fund and double our capital commitments. You’ll have the benefit of joining an established firm with a differentiated market position, healthy deal flow, and a proven investment track record. At the same time, Anacapa is early in its evolution. Our ambition is to build a world-class investment firm and be the partner of choice for search fund entrepreneurs and growing lower middle market companies. We believe search funds and the lower middle market represent one of the few attractive environments left in the private equity landscape, so the opportunity ahead of us is massive. Our work is also uniquely rewarding, because we partner with younger, less experienced CEOs and businesses that are often overlooked because of their size. We are a key part of the support ecosystem that develops these “raw” inputs into strong, experienced leaders and professionally-managed businesses.

We need great talent that can go the distance to make our vision a reality. Stated differently this is a true growth stage opportunity to join a proven investment team that is building an enduring investment franchise from an advantaged competitive position. If this excites you, then abundant challenges and opportunity await. We hope you’ll explore joining our team.

What you’ll do:

Directors have three mandates:

Grow Anacapa’s position (and establish a personal reputation) as an investment partner of choice by delivering differentiated support to our entrepreneurs
Originate, execute, and oversee investment opportunities that fit Anacapa’s strategy
Continuously improve the Anacapa platform and drive our development as a world-class investment firm

To deliver on those mandates, your day-to-day activities may include:

Advise and guide search fund entrepreneurs during the search funds’ search and acquisition phases
Perform due diligence work on target companies sourced directly and through Anacapa’s search fund entrepreneurs
Build/review financial models to support valuation conclusions, calculate investment returns and sensitivity analyses, and evaluate debt financing options
Create internal investment memorandums for the Anacapa team
Interface with current search fund principles and senior management at operating companies
Lead various sector analyses and stay abreast of industry trends
Perform strategic, financial and operational analysis on portfolio companies and acquisition targets
Develop internal tools to support search fund entrepreneurs
Support Anacapa Partners’ branding & marketing strategies within the search fund community and broader investment marketplace
Analyze proprietary data and refine internal business processes
Evaluate prospective search funds and interview searchers

About you:

We’re focused on finding the right fit for this role and are open-minded that the right candidate may come from a traditional or non-traditional background. These personality traits and desired experiences are a guide to things that are helpful for this role but not strictly required.

We believe the following traits will help you be successful:

Entrepreneurial: An ability to lead from positions of significant ambiguity and get things done with limited direction
People person: You don’t need to love networking but you do need to enjoy building relationships and have a proven ability to do so successfully, because we are in a people business
Collaborator: Thrive working in teams. We believe teams make better investment decisions than individuals
Analytical: You should love the process of deconstructing an investment opportunity both qualitatively and quantitatively

These experiences are also helpful – but again – not required:

MBA or other graduate degree from a top-tier institution
Experience operating or investing in lower-middle-market companies ($1M – $6M EBITDA)
Experience with search funds (e.g. as an operator of a search acquired company, or through investments in the search ecosystem)
Training from a private equity, consulting, or investment banking firm
Sufficient work experience to be a credible partner to our portfolio company CEOs who are typically recent MBA graduates

Compensation:

The Director will receive a competitive base salary and carried interest, in addition to fully-paid healthcare, vision, dental, and life insurance . Anacapa offers unlimited PTO, standard holidays, and a full-featured 401(k) plan. Most importantly, we are proud to have a work environment defined by a focus on results and respect for the individual. We’re also proud of our culture, and we’d like to think we have a sense of humor, although it’s probably just us who thinks that.

Location:

This is a hybrid role with an expectation of 2 – 3 days onsite in our office in San Mateo, CA each week.

To apply:

Please apply with your resume using the application link. If this posting is still live, we are continuing to actively engage with candidates.