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Returned Search Fund Capital
- Niklas James initially raised a traditional search fund but returned the capital.
- He chose flexibility and autonomy, believing deal flow is the biggest bottleneck.
Investor Reactions
- Most search fund investors did not react when Niklas returned their checks.
- One investor expressed disappointment, but reaffirmed their interest in his deal flow, highlighting the importance of deals.
From Oil and Gas to SaaS
- Niklas initially focused on oil and gas deals, but struggled to find capital due to the industry downturn.
- He later closed a deal on a SaaS edtech business, similar to a typical self-funded search.