Imagine flicking through the latest projects on Kickstarter, and somewhere between the aspiring novelist and the guy who wants to create 91 paintings of Don Quixote in 91 days, you come across this: Wanted: A few million bucks to help an MBA flip a business and make a bundle for everybody.
That, more or less, is what Alex Hodgkin envisions for Booth Search, a project he’s spearheading at Chicago’s Booth School of Business that connects MBAs looking to make acquisitions through “search funds” and alumni investors willing to pony up the money to make it happen.
Search funds are, of course, not a new idea, but tapping into a school’s alumni network in search of capital is. For the alumni, a search fund investment can generate large returns—private equity large. That, and the warm and fuzzy feeling they’ll get from helping a couple of ambitious young MBA students realize their dreams, makes it a no-brainer.