SpringWater · Search funds
We provide long-term capital for acquisition entrepreneurs
Alongside our direct strategy in software, we back entrepreneurs stepping into the CEO seat via acquisition in European small businesses — with capital that has no clock on it and hands-on support.
We follow the Stanford ETA model
We back traditional search funds across Europe. We fund 12–24 months of full-time searching, aimed at acquiring one profitable company — and you stepping in as CEO.
Search capital
12–24 months of full-time searching, funded properly.
Acquisition capital
Equity at close, as lead or alongside a syndicate.
Equity gaps
The last piece that gets a good deal over the line.
What we look for
Clear criteria, fast answers
Stage
Search capital, acquisition capital, equity gaps
Company size
Typically €1–5m EBITDA
Ticket size
€50k to €10m
Geography
Europe first
Sectors
Services, industrial / manufacturing, healthcare, software*
Profile
Stable, profitable businesses with clear growth levers
* Software thesis or opportunity? You get more from us
Deeper support from our direct strategy and more flexibility on structure. And one promise upfront: we will never compete with you — the company you source in software is yours.
Why us
Helping during the search and long after close
Searching
We built SpringWater's software origination engine from scratch — defining a searchable universe, sourcing and enriching target data, building direct-to-founder relationships. We help searchers set theirs up well.
Due diligence
Advisor relationships and hands-on experience to lean on through the acquisition phase.
Operating
Our ecosystem brings real operating depth in the areas that decide outcomes after close.
- GTM and marketing-led growth
- B2B sales — from SMB to enterprise
- AI capability and automation
- Customer support at scale
- Payments and related infrastructure
- M&A and roll-up execution
Exiting
We help you select the right advisors and position the company for a successful exit.
Talk to us
If you are raising, or have identified a specific opportunity, we would like to hear from you early.
Reach out