Category: Business Financing & Funding

Warren Buffett’s Strategy, Selling Your Business, and Other Topics in Podcast Interview

I was interviewed recently by a very good business broker, Jim Cumbee of the Tennessee Valley Group.  I have gotten to know Jim this year as we worked on a transaction and we had a fun discussion about several topics including: Lessons learned about selling… Continue reading

Two Investments To be Announced as Soon as I Stop Slacking Off in Wyoming

We closed two more acquisitions on August 8 (will announce them soon) after having made two growth business investments earlier in the summer (Murphy business brokerage and one other unannounced).  When I began the Greybull investment fund, I expected to do 1-2 investments per year.… Continue reading

My Co-Owners Are Best Part of Investing

The best part of Greybull Stewardship for me is working with the people at the portfolio companies once the investment is done.  The initial discovery process is fun — meeting the management for the first time, understanding what has made the company successful, and exploring… Continue reading

Business Brokerage: Greybull Stewardship Makes Growth Investment in Murphy

My investment fund, Greybull Stewardship, has made a growth investment in Murphy Business Brokerage, the #1 business brokerage company in North America.  The press release about this investment can be found here at the Greybull Stewardship blog.  I am very enthusiastic about this investment for… Continue reading

We’re In Seed-Stage Boom, Not a Series A Crunch

Two related trends in venture capital investing have been getting attention for the last few years. The first is the growth in angel investing, particularly after the crowd-funding provisions of the JOBS Act. The second is the “Series A crunch” where many companies that receive… Continue reading

Nine Secrets for Avoiding Failed Business Acquisitions

Failed businesses always have both myth and logic around the reasons for their failure.  This is even more true for a failed business acquisition because there are the elements of the transaction added onto the elements of the business itself.  The reality is always complicated,… Continue reading

6 Pitfalls Between Letter of Intent and Closing the Deal

When selling your business, it is so much work to find the right buyer and to get to a letter of intent.  That may feel like the hard part.  It is not.  It is just as hard to manage everything that comes next and get… Continue reading

Evergreen venture fund structure offers new strategy

Heartening to read a blog at Axial about the Evergreen Venture Fund Structure that we use at my Greybull Stewardship:  http://www.axial.net/blog/evergreen-fund-structure/ Thanks to Billy Fink and his M&A blog, I’m excited to have the conversation about how the traditional fund protocols are changing with new… Continue reading

Perfect Business Financing — Maybe No Outside Equity

Many of the businesses that I end up working with in my investment fund, Greybull Stewardship, do not need outside equity capital — of the traditional sort.  They are growing and profitable and creating real value already. I learn about perfect business financing from them.… Continue reading

New $20 Million Investment Fund Looking for Profitable, Fast-growing Businesses

Greybull Stewardship, L.P., an investment fund, completed in January 2014 its $20 million round two capital commitments. Since the fund’s January 2010 inception, annual returns have realized 23 percent after fees. As a result, existing Limited Partners (LPs) increased their commitments and new LPs were… Continue reading