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This space has some of the most unique backgrounds and my guest on this episode is no exception. David Krock joined a band as their drummer coming out of high school, did not go to college, and wound up starting a recording studio which led him on a path to entrepreneurship and micro PE investing, which he does today through his firm Sunset Coast Capital.
This episode is unique and is a joint episode with Karen Spencer from Searchfunder, Walker Deibel, and myself, and is something I’m calling “Author’s Chat.” I recently sent out a survey to see what content listeners and readers might enjoy hearing most and many of them said that conversations with authors of books relevant to micro PE would be interesting to them.
My fifth guest of the show is Nick Haschka, an MIT graduate living in San Francisco focused on buying small private companies through his firm Cub Investments, along with two other partners.
Peter and Justin both reached out over Twitter and the more I learned about their firm, the more interesting to me it became. Traction is a small private equity firm that blurs the lines between a private equity fund and a permanent capital vehicle, which is what made them so interesting to me.
I’m meeting with the team from Searchfunder.com, an online community dedicated to search funds and the various parties involved. A search fund is the smallest form of micro private equity I’ve found thusfar and is typically one entrepreneur seeking out a company to buy and run as the CEO.
My conversation today is with Mike Boyd. Mike is originally from Brisbane, Australia and currently lives in Singapore where he runs one of the leading car rental comparison websites in the world – Vroom, Vroom, Vroom, among other portfolio companies. He has been an entrepreneur for virtually his entire life, starting at a very young age.
For the first conversation of the podcast, I’m meeting with Trish Higgins who, along with her husband James Higgins and brother-in-law Palmer Higgins, run Chenmark Capital in Portland, Maine. Chenmark Capital acquires and operates small companies for the long term using their own capital, with no intention of selling – a perfect example of permanent equity.
Each year I write an annual letter to readers and listeners to reflect on the evolution of the podcast and my personal growth.