After an early search that didn't close and a decade in PE (incl. Alpine), former Marine Rob Casper found his stride inside a public company. Today he leads skilled trades at Kingsway Financial, a public company that transformed from an insurance underwriter to a public company compounder of small business acquisitions. References and how to contact today's guest: Rob Casper | LinkedIn Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a ...
Oct 08, 2025•1 hr 17 min•Ep. 33
Marc Cabrera , based in Telluride, worked as a healthcare-focused investment banker from 1988 until his retirement last year. As a side gig to being a banker, he has acquired 5 companies, of which 4 have exited, all north of 10x MOIC. One returned a whopping 40x MOIC, where Marc was the largest investor. References and how to contact today's guest: Marc Cabrera | LinkedIn Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI...
Oct 01, 2025•1 hr 32 min•Ep. 32
Outspoken Nathan Chandrasekaran of Columbia River Partners, based in Seattle, Washington, has built a track record around carve-outs, portfolio synergies, and hard work, creating a firm with a clear identity and 7 platforms. References and how to contact today's guest: Nathan Chandrasekaran | LinkedIn Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Our website also contains...
Sep 24, 2025•1 hr 17 min•Ep. 31
Jeff Goldstein is an independent sponsor at Breakwater Management, formerly a private credit fund. Earlier this year they closed their first independent sponsor transaction of a marketing company called Chemistry Communications, which Minds Capital invested in. Jeff's career path has taken him from law and investment banking into senior leadership roles at media & marketing companies like IAC, Experian, and PriceGrabber, before stepping in as CEO of United Online, which was a public company ...
Sep 17, 2025•1 hr 9 min•Ep. 30
Sarkaw Aziz acquired a $5 million EBITDA vacation rental platform in Colorado, structured it with a 50% seller rollover and a 3x EBITDA seller note, and exited just two years later with 2x MOIC and a 41% IRR. References and how to contact today's guest: Sarkaw Aziz | LinkedIn Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Our website also contains more information about th...
Sep 03, 2025•1 hr 6 min•Ep. 29
Rick Apple built Upside Growth Partners out of Nashville after starting his career in the finance grind of New York. A Princeton grad turned entrepreneur, he has scaled 12 platforms while raising 5 kids at home. From a breakout children’s clothing brand to roofing and beyond, Rick has proven that smart sourcing, deliberate underwriting, and rolled-up sleeves can compound into lasting success. References and how to contact today's guest: Rick Apple | LinkedIn Minds Capital invests equity into dea...
Aug 27, 2025•1 hr 18 min•Ep. 28
Stenning Schueppert , based in Austin, leads Evolution Strategy Partners, one of the most transparent and high-performing independent sponsors west of the Mississippi. A private equity veteran and zinger machine, Stenning shares refreshing insights on why the independent sponsor model beats traditional funds, how radical alignment drives better outcomes, and the simple math behind his portfolio’s 10x MOIC markup. References and how to contact today's guest: Stenning Schueppert | LinkedIn Minds C...
Aug 20, 2025•1 hr 12 min•Ep. 27
Zack Miller and his high school friend Johnny Lieberman combined their distinct backgrounds to launch Worklyn Partners, a dual platform marrying the VC-style upside of cybersecurity with the proven PE roll-up playbook in managed service providers (MSPs). Backed by $50m in committed capital, they have executed 7 acquisitions, keeping their IT services and cybersecurity businesses operationally separate, preserving the flexibility to merge or exit individually. References and how to contact today'...
Aug 13, 2025•1 hr 10 min•Ep. 26
Celebrating 25 episodes, the founders of Minds Capital pull back the curtain on lessons from deploying Fund 1 capital, why they’re bullish on US private equity, how they evaluate deals and sponsors, and the strategy taking shape for their upcoming Flagship 2 fund. References and how to contact today's guest: Minds Capital | LinkedIn Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI, visit Minds Capital to start a convers...
Aug 06, 2025•58 min•Ep. 25
Luis Reyes , an exited SaaS founder, is building a fire safety market leader in Spain through full-time focus on operations and rapid M&A with 24+ acquisitions in just 24 months. Assembling a mosaic of micro-targets, the platform now generates €8m in EBITDA, with industry-leading efficiency stemming from Luis' consulting background and AI-first mindset. Fun fact (or maybe not so fun...): Luis grew up in rural Mexico and got his first pair of shoes at age 5. References and how to contact toda...
Jul 30, 2025•1 hr 14 min•Ep. 24
David Acharya has been an independent sponsor since the great financial recession His most notable deal, a 9.5-year investment in experiential marketing firm Impact XM, delivered an extraordinary 20x MOIC. Along the way he navigated a smooth separation from former partners, and today he chairs the Independent Sponsor Alliance, a 55-member peer network shaping best practices in the industry. References and how to contact today's guest: David Acharya | LinkedIn Minds Capital invests equity into de...
Jul 23, 2025•1 hr 8 min•Ep. 23
Doug Song reflects on 25 years of experience as an independent sponsor, having co-founded Prodos Capital in 2003. He explains how Prodos views co-sponsoring as a strategic path to scale, enabling experienced sponsors to take on more deals while supporting emerging talent. Doug also discusses the growing role of capital placement agents and family offices, and emphasizes why getting the first deal right is the single most important step in building a lasting independent sponsor career. References...
Jul 16, 2025•1 hr•Ep. 22
Former theater director Cory Sandrock explains how independent sponsorship is just stagecraft in a different suit: cast great people, raise funds for each production, and deliver standout performances. Cory shares how he struck gold in home services, why he avoids herd behavior in crowded sectors, and how leaning in on terms like turning off fees or yielding economics attracts the right partners and builds long-term value. References and how to contact today's guest: Cory Sandrock | LinkedIn Min...
Jul 09, 2025•1 hr 13 min•Ep. 21
When Neal Doshi got within inches of closing a $40m+ transaction, his anchor investor rewrote the deal. Management fees and carry were stripped. Neal was left with a consolation closing fee, cashed out. This episode is a raw look at what happens when power shifts at the final hour, and what independent sponsors can do to protect themselves. Neal eventually used the closing fee to propel his subsequent successful career as an independent sponsor. References and how to contact today's guest: Neal ...
Jul 02, 2025•1 hr 4 min•Ep. 20
Renaud Besançon is the founder of Ceres Industries Capital, one of Europe's leading independent sponsor firms. Free from the constraints of traditional funds, Renaud's team targets "non-vanilla" mid-market acquisitions (€20m-€75m EBITDA), often closing them at 30-40% discounts. After 20 years as a sponsor, with a 30-year WIP investor database, Renaud details how he blends "back-to-basics" PE centered on operational value creation with deal-by-deal pioneership in France. References and how to con...
Jun 25, 2025•1 hr 16 min•Ep. 19
Serial entrepreneur Nick Huber turned a grueling college moving startup into a self-storage real estate empire. By mastering remote work and offshore labor, he cut payroll costs by 70%, lifted sales conversion rates by 35%, and built a defensible operating moat. Chronicling his playbook on Twitter earned him 400,000 followers, and he used that influence to acquire and grow Somewhere.com for $52m. References and how to contact today's guest: Nick Huber | LinkedIn Minds Capital invests equity into...
Jun 18, 2025•1 hr 47 min•Ep. 18
Kevin Ramsier 's bought his first company for $60,000 and exited it for $77 million - growing EV by more than 1,000x! He also shares the story about a $55m exit, only 18 months after acquiring it for $16m. With a silky voice and sharp insights, Kevin explains how hiring strong operators drives scale and protects his family from constant relocations. A proud evangelist of the deal-by-deal model, he candidly reflects on striking out on 18 consecutive LOIs over the past year. References and how to ...
Jun 11, 2025•1 hr 4 min•Ep. 17
Steven McGrath went from closing deals at billion-dollar family offices to becoming a solo independent sponsor headquartered in a LEGO-strewn basement. He proudly calls his first platform "Apollo 13", a near-impossible mission where he delivered 1x+ MOIC despite 3 Black Swans. Now, after 5 deals and 2 exits, he reflects on his journey as a lean, entrepreneurial, and disciplined sponsor. References and how to contact today's guest: Steven McGrath | LinkedIn Minds Capital invests equity into deals...
Jun 04, 2025•1 hr 2 min•Ep. 16
In just 4 years, Bobby Sheth has closed 10 platform deals, a rare pace for an independent sponsor. He focuses not on perfect companies, but on those with fixable issues like supply chain or people risks. Bobby explains how skipping EBITDA zones expands the buyer universe and how conservative deal structures create room to navigate surprises. References and how to contact today's guest: Bobby Sheth | LinkedIn Minds Capital invests equity into deals by independent sponsors and searchers. For indep...
May 28, 2025•1 hr 13 min•Ep. 15
Robert Koven discusses his journey from a SaaS-focused independent sponsor to founding a 100-man strong investment bank on Wall Street. Suit & tie, Bob provides experience and nuance on the state of SaaS in 2025 as well as the evolution of our cherished independent sponsor space, which he has observed both from the driver seat (via his direct deals) and the banker perspective. References and how to contact today's guest: Robert Koven | LinkedIn Minds Capital invests equity into deals by inde...
May 21, 2025•1 hr 10 min•Ep. 14
Formerly a CPA, Sequoya Borgman realized his dealmaking clients were having more fun. In 2017, he hustled to raise the capital for his first platform in 2017. Since then, Borgman Capital has built a network of 500 HNWIs and been oversubscribed for each of its next 9 platforms. He shares how second-tier geographies, retail fundraising, and disciplined execution are critical to his firm’s sustained success. References and how to contact today's guest: Sequoya Borgman | LinkedIn Minds Capital inves...
May 14, 2025•1 hr 7 min•Ep. 13
New York-based Neel Bhargava breaks down how a minority investment into a Crunch Fitness franchisee turned into a home run, scaling from 10 to 74 locations with multiple recapitalizations along the way. Neel explains the value of thematic focus, outlines the opportunity of franchises, and spotlights the importance of strong management teams. References and how to contact today's guest: Neel Bhargava | LinkedIn Minds Capital invests equity into deals by independent sponsors and searchers. For ind...
May 07, 2025•55 min•Ep. 12
“Eat infrequently, eat well,” says Ramiro Alfaro, whose Paltus Capital goes slow, strikes big, and is pioneering deal-by-deal private equity in Central America. They have had to overcome stigma, educate market participants, and obtain creative financing to close deals. As a first mover, however, they enjoy favorable market dynamics (e.g., good valuations, inbound deal flow, cold outreach success) and ample whitespace for continued growth, while customizing a long-term hold strategy to solve for ...
Apr 30, 2025•1 hr 26 min•Ep. 11
Straddling the line between independent sponsor and self-funded searcher, MIT-educated operator Nick Haschka breaks down how to go beyond market terms and engineer a carried interest well north of 20%. He outlines 12 factors that can tilt negotiations in the sponsor’s favor such as raising from retail, prioritizing quick paybacks, backloading sponsor economics, and more. References and how to contact today's guest: Nick Haschka | LinkedIn For independent sponsors with a deal under LOI, visit Min...
Apr 23, 2025•1 hr 14 min•Ep. 10
In less than 3 years, Ben Hughes and Blue Ridge Construction Capital have acquired 4 platform companies in the building products industry, deploying over $100 million of equity. Their pace is the result of more than a decade spent in industry-focused investment banking. Due to their industry focus, Blue Ridge delivers value through deep vertical expertise and superior access to deal flow, strategic capital, and key relationships. References and how to contact today's guest: Ben Hughes | LinkedIn...
Apr 16, 2025•1 hr 4 min•Ep. 9
Serial entrepreneur and independent sponsor, Jory Caulkins, gives a tactical masterclass on how to build trust with sellers, partners, investors, and team members - and why this is so important. He also deep-dives into his company's three deal criteria: moat, longevity, and asymmetry. References and how to contact today's guest: Jory Caulkins | LinkedIn For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Minds Capital invests equity into deals by independ...
Apr 09, 2025•1 hr 11 min•Ep. 8
Benjamin Graham-inspired value investor, Matt Bodnar, views deal flow and valuation discipline, specifically 4-5x, as the two mission-critical components in creating long-term alpha. He is also a believer in permanent holdings, where annual cash flows, rather than exit proceeds, are a source of evergreen capital for future acquisitions. References and how to contact today's guest: Matt Bodnar | LinkedIn For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. ...
Apr 02, 2025•1 hr 17 min•Ep. 7
From playing against FC Barcelona at Nou Camp to negotiating with chain-smoking veterinarians, Nikolay Dimitrov at Unity Investment Partnership is trailblazing the path of independent sponsor firms in Eastern Europe. References and how to contact today's guest: Nikolay Dimitrov | LinkedIn For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Minds Capital invests equity into deals by independent sponsors and searchers. Our website also contains more informa...
Mar 26, 2025•1 hr 16 min•Ep. 6
Zinger-machine Jay Fuquay is an EVP at Trinity Investors. Trinity was formerly an independent sponsor and is now a private equity and alternative investments powerhouse. They've curated an active investor database of 4,000 high net worth individuals, which has propelled Trinity into a leading capital partner for independent sponsors. References and how to contact today's guest: Jay Fuquay | LinkedIn For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Mind...
Mar 19, 2025•1 hr 9 min•Ep. 5
Where many newly established independent sponsors "fake it 'till they make it", Shreveport-native Edward Crawford used his "Mission & Margin" principles to raise working capital for real infrastructure and a team at Coltala Holdings before chasing deals. He shares about their monthly newsletter that reaches 30,000 stakeholders and generates 14-15 deals, Coltala's relationship-based scoring system for deal flow, and Coltala Enterprise Systems for driving operational efficiency in PortCos. Ref...
Mar 12, 2025•58 min•Ep. 4
