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ESADE MBA Starts Search Fund Connecting Entrepreneurs With Private Equity Investors

Carlos García Sotelo launched his search fund after an internship he landed during his ESADE MBA

By  Robert Klecha

Mon Jul 31 2017

BusinessBecause
Carlos García Sotelo landed an internship at Lomba Capital – a search fund which serves as a vehicle for entrepreneurs to raise funds from Private Equity (PE) investors – a full-time MBA at ESADE Business School.

Now, he’s launching one of his own. Based in Spain, Perspectiva Capital was formed with the goal to acquire one private business with revenues between $5 and $30 million.

Carlos sees the search fund model as the way to achieve his career goals and lead a company. He’s currently fundraising and expecting to start operating by September this year.

He’ll join the 96% of ESADE MBAs who change role, industry, or location after graduation.

How did the idea of Perspectiva Capital come about?

I heard about the search fund model just before starting my MBA, and I thought that it was the perfect path for achieving my goal. I had wanted to start a search fund since I first heard about the model, but I felt that I had to make sure I was well prepared to succeed before raising funds – I’m shocked at how many entrepreneurs do not feel this responsibility.

When the opportunity to intern for Lomba Capital during my MBA arose, I thought it would be the perfect chance to acquire inside knowledge about how a fund operates. The managing director, Ricardo Velilla, was very generous with his time and helped me learn all the aspects of the model.

My experience at Lomba Capital, combined with my MBA at ESADE, made me feel confident that I could succeed with my own search fund.

What do you hope to achieve?

My immediate career goal is to find a business to acquire that can generate above-average returns for my investors, while enabling me to develop as the CEO of a small company.

I know the search fund experience will be very intense and transformative, so I expect it will reshape the way I think about my career and encourage me to define new career objectives.

Why did you choose to pursue an MBA?

After working in sales and project management, I was certain I wanted to be a senior manager. I want to be where the most important decisions are made.

To be successful, I realized I needed an education that complemented my engineering background and would give me a strategic vision of the company, its environment, and how functions are linked to each other. I believe the best way to achieve this is to apply for an MBA in a school with a great faculty, and with students from diverse backgrounds.

What attracted you to ESADE?

ESADE is a very international school which guarantees a global experience that encompasses business practices around the world. The class size was also very important to me. With almost 200 students, the ESADE class felt large enough to have a wide range of profiles, and small enough to be a friendly group in which everyone knows each other.

The school is known for emphasizing innovation and its links to corporate performance and entrepreneurship. I thought an awareness of the impact of innovation was key because disruption is the new norm.

What advice do you have for prospective MBAs?

You probably have an ambitious goal or dream career, but take time to think about why you want to have that career and what the underlying motivation is. The MBA environment opens many opportunities, some of which will be new to you, so you may find better ways to achieve your objective than your initial plan.

Most importantly, contribute to and share with your fellow students as much as you can. You may be instrumental in helping other people make a key decision about their lives.

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