Search Fund Partners is a private equity firm specializing in acquisitions of companies that was founded in 2004 and is based in Menlo Park, California. It focuses on investments in micro-cap businesses acquired through leveraged buyouts. The firm prefers to invest in companies with revenues between $5 million and $30 million.
Search Fund Partners works closely with Search Fund entrepreneurs to acquire and build successful companies through an active, hands-on investment management approach to help entrepreneurs build lasting value companies. Its current portfolio includes over 30 privately held companies through the search fund model.
The Search Fund Partners team has over 40 years of management and investment experience in a wide spectrum of industries. Their experience spans every phase of business, including start-up management and venture capital fund-raising, both sides of corporate M&A, high level executive management, real estate syndication and small business management.
David Carver is a co-founder of Search Fund Partners. He and his partner, Rich Kelley, have spent the last nine years developing and managing the SFP portfolio. He is on the board of iNet Interactive, FastSpring, Great Bay Software, Advanced Network Solutions, UnitedLayer, DataFusion, StaffOne, WebEquity, Raptor Technologies and VRI. David spent thirty years as an executive in the high tech industry, and has extensive experience in all phases of business, including M&A, fund-raising, corporate strategy and operations. He was CEO of HiFive!, an application service provider; CEO of Hipbone Networks, an online collaboration company; EVP and GM at Network Associates; COO of Network General; an EIR at Institutional Venture Partners; and an executive at Hewlett-Packard, including ten years in the professional service/software divisions of HP.
Dave has an MBA from Stanford Graduate School of Business and a BS in Mathematics from the University of Arkansas. Dave and his wife Julia have two boys, RJ and Sam. He is active in community and non-profit organizations, having founded the Redwood Chapter of National Junior Basketball serving 650 children.
Rich Kelley co-founded Search Fund Partners in 2004. He currently serves on the boards of Discovia, HemaSource, Verengo, Avadyne, RIA in a Box, ISC, and Medical Positioning, Inc. Rich Kelley has been involved in numerous small businesses and start-up companies as an operator, owner, and investor. His varied experience includes: CFO of Score Learning Centers, CEO of San Jose Giants, General Partner of the Stanford Terrace Inn, developer of houses and subdivisions, owner of office buildings and hotels, investor in successful tech start-ups (Coinstar, PLX Technology, Corcept Therapeutics). He has also invested in many limited partnerships, including venture funds, and has been involved as a search fund investor since 1994.
Rich has an MBA from Stanford Graduate School of Business and a BA from Stanford University. Rich and his wife Gina have two children, Riley and Sam. He has served as an elected school board trustee and is active with the Positive Coaching Alliance and Sustainable Conservation as an advisor.
Jim Edmunds joined Search Fund Partners in 2008 after running a company sourced through the search fund model. Jim and his partner found and acquired Celebrity Kids Portrait Studios, a leading provider of upscale children's photography in 2005. Jim served as President and CFO of the company. He currently participates on the boards of Microdea, Neuro International, Consumeraffairs.com, Gogotech, and UCIT Online. Before launching a search fund, Jim was an Associate at McKinsey & Company in Palo Alto. Prior to attending business school, Jim conducted business development for PetSmart.com, managed a successful political campaign in Texas, and worked in Investment Banking and Equity Capital Markets at Bear Stearns.
Jim holds an MBA from the Stanford Graduate School of Business, where he was named a Siebel Scholar, and an AB in History from Harvard University. He is the treasurer of Building Futures Now, a non-profit dedicated to helping high potential students in East Palo Alto. He lives in Menlo Park with his wife Christine, daughter Emiko, and son Koji.