Acquiring Minds The Flywheel of Buying Businesses in a Single Region
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Sep 11, 2025 Doug Lepisto, founder of Sleeping Giant Capital and professor at Western Michigan University, explores the dynamic of place-based investing and its impact on local communities. He shares insights on balancing financial returns with social impact through innovative models that prioritize long-term growth. Doug discusses the unique advantage of building local trust and his philosophy of 'find the operator, find the deal.' He also details a structured approach to guiding aspiring entrepreneurs with personalized education, emphasizing ethics and integrity in business acquisitions.
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Rejected Pitch Became Place-Based Fund
- Doug Lepisto and partner were laughed at when first pitching a place-based fund concept to investors.
- They persisted and later built Sleeping Giant Capital focused on Western Michigan deals.
Place-Based Capital Changes Incentives
- Place-based investing aligns incentives with the local community and broadens access to off-market sellers.
- That focus naturally favors long-term hold strategies and local service-provider relationships.
Combine Community Impact With Market Returns
- Keep an investor-grade financial performance target while pursuing local impact.
- Do not accept lower returns simply because you're doing community-focused investing.
