Don't Start a Business, Buy One (ep 68) cover art

Don't Start a Business, Buy One (ep 68)

Don't Start a Business, Buy One (ep 68)

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 GenCap Partners breaks down how entrepreneurship through acquisition (ETA) and search-fund style investing are creating a practical path to buy and grow small businesses in Singapore and Malaysia.Instead of starting from zero, Zachary Lee and Eric Koh explain how operators can acquire existing cash-flowing SMEs, professionalize management, and scale with clearer downside protection than many early-stage startup bets. They cover how GenCap matches operators to assets, how SPV-based deal structures change incentives, and why seller motivation often determines whether a deal closes.📖 What You’ll Learn in This EpisodeHow ETA and search-fund models differ from traditional VC fundsWhy GenCap targets consistency over power-law outcomesHow risk, return, and loss ratios compare across VC, PE, and SME dealsThe four core underwriting lenses: asset quality, valuation, team, and structureWhy seller motivation is a first-meeting diligence priorityCommon SME red flags: key-man risk, customer concentration, and weak controlsHow SPV structures reduce forced deployment and forced exitsHow succession trends and demographics are shaping SME opportunitiesWhere AI and tech modernization can improve post-acquisition operations🎧 Listen and SubscribeYouTube: https://www.youtube.com/@TheGeneralistsPodcastSpotify: https://open.spotify.com/show/2apfGY403NGr1EyTNkJfG4Apple Podcasts: https://podcasts.apple.com/sg/podcast/the-generalists🎙️ HostsMichael Smith Jr.: https://www.linkedin.com/in/smittysgp/Raz Kotler: https://www.linkedin.com/in/razkotler/👤👤 GuestsZachary Lee: https://www.linkedin.com/in/leehuisiang/Eric Koh: https://www.linkedin.com/in/koheric/🔗 Resources and Links Mentioned🏢 Companies and ProductsGenCap Partners: https://www.gencap.asia/Dorje AI: https://dorje.ai/Microsoft: https://www.microsoft.com/NVIDIA: https://www.nvidia.com/SGX (Singapore Exchange): https://www.sgx.com/Bursa Malaysia: https://www.bursamalaysia.com/📚 Concepts and FrameworksSearch Fund: https://en.wikipedia.org/wiki/Search_fundEntrepreneurship Through Acquisition (ETA): https://www.gsb.stanford.edu/faculty-research/case-studies/case-search-fund-entrepreneurship-through-acquisitionSpecial Purpose Vehicle (SPV): https://en.wikipedia.org/wiki/Special-purpose_entity👥 People and ProfilesCodie Sanchez: https://www.linkedin.com/in/codiesanchez🎙️Podcasts and MediaThe Diary Of A CEO: https://www.thediaryofaceo.com/The Game Of Impossible: https://open.spotify.com/show/2pZcmJ2r4v98VqywQCFeXk📖 BooksDie With Zero (Bill Perkins): https://www.hachettebookgroup.com/titles/bill-perkins/die-with-zero/9780358567097/
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