HoldCo Builders

Neil Mehta built Greenoaks Capital into one of the most successful — and secretive — investment firms in the world. While most VCs chase hype, Neil built a reputation for radical focus, long-term thinking, and doing his own diligence.In this solo research episode, I break down what holdco builders, private equity investors, and traditional business owners can learn from Mehta’s strategy — from his obsession with simplicity to how he scaled Greenoaks to $15b AUM without raising hype-driven rounds.Key topics in this episode:- Why Greenoaks avoids traditional venture traps- The importance of doing your own due diligence (never outsource it!)- How conviction and focus beat diversification- Neil Mehta’s underrated operating edge- What SMB and HoldCo builders can apply from a top-tier investorIf you're building a group of companies, allocating capital, or operating a company, this episode will give you valuable frameworks.I hope you enjoy it.----------------------------------------------Timestamps:00:00:00 - Intro00:01:56 - Greenoaks Capital and its investment philosophy00:04:31 - Finding hidden gems: the power of a contrarian acquisition strategy00:11:02 - The decisive power of backing the right leader (special people)00:17:15 - Riding the wave of transformative shifts00:20:36 - The power of deep understanding and bold conviction00:26:43 - The imperative of ruthless prioritization00:35:11 - The cost of outsourcing fundamental analysis00:37:52 - The art of seeing beauty in business and viewing founders as artists painting their masterpiece----------------------------------------------Follow Mikk/PrivatEquityGuy on Twitter: ⁠⁠https://x.com/PrivatEquityGuy⁠⁠Neil on LinkedIn (No one at Greenoaks Capital Partners uses Twitter): https://www.linkedin.com/in/neil-mehta-47623079/This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

My guest today is Nick Huber — entrepreneur, investor, and creator behind a $30M+ holding company spanning real estate, service businesses, and media.In this episode, we dive deep into how Nick allocates capital across multiple businesses, builds operationally lean teams, and balances short-term cash flow with long-term wealth creation.We explore how social media transformed his entrepreneurial journey, raising millions and unlocking career-changing relationships. Nick also shares the realities of building in public, handling criticism, and why focusing on "unsexy" businesses gives him an edge.If you're an investor, business buyer, or private equity professional looking to learn how to think, operate, and allocate like a world-class entrepreneur, this conversation is for you.Topics include:Capital allocation frameworksScaling without losing controlBuilding trust and raising millions onlineThe real mindset behind entrepreneurshipHandling criticism and pressure at scaleLife lessons from building boring businessesListen now to get an unfiltered view into the mind of one of today’s most transparent and tactical business builders.----------------------------------------------Timestamps:00:00:00 - Intro  00:00:23 - Why everyone wants to follow people who live an interesting life  00:04:25 - The huge upside and downside of being transparent on social media  00:05:36 - “Nick is going broke, he’s a fraud, and going bankrupt?!”  00:10:36 - The debt structure behind Nick’s most expensive acquisition ($52M valuation deal)  00:19:15 - How to stay focused when running a diversified portfolio  00:22:40 - 325 employees across Nick’s portfolio (only 20 are Americans)  00:25:38 - Whatever you do: add as much value to others as you can—and do it for free  00:28:02 - The story of meeting a wealth manager that changed Nick’s views on life and business  00:32:18 - Helping investors evaluate deals led Nick to 5 closed deals  00:35:06 - How one Twitter thread converted into 40,000 followers and a new business life  00:36:28 - Business and life are an adult marshmallow test  00:40:02 - Three things every operator should learn  00:43:22 - Working 60 hours a week  00:45:45 - The most painful part of the journey  00:47:29 - Is Nick an iceman, or does he really care what people think of him?----------------------------------------------Follow Mikk/PrivatEquityGuy on Twitter: ⁠⁠https://x.com/PrivatEquityGuy⁠⁠ As Nick builds his holding company, here are the links to all of his businesses, as well as his new book, which will be released on April 29, 2025.Nick on X: https://x.com/sweatystartupwww.sweatystartup.comwww.nickhuber.comwww.somewhere.comwww.boltstorage.comwww.recostseg.comwww.boldseo.comwww.webrun.comwww.titanrisk.comwww.linkedin.com/in/sweatystartupLink to buy the book on Amazon: https://amzn.to/4bLazjWLink to buy the book in the UK: https://bit.ly/422njPWThis podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

My guest today is Nick Keegan, co-founder and CEO of Mail Metrics, a company helping highly regulated industries—like banks, insurers, and pension providers—communicate more effectively with their customers.Nick started Mail Metrics in 2013 at just 24 years old, after serving 11 years in the Irish Defence Forces. It took 7 years to reach €1M in revenue, but what followed is nothing short of remarkable: in 2023, the company hit €40M—and is on track to do €210M in 2025.In this episode, we go deep into the gritty early years, how he closed his first clients after 3 years of trying, and how Mail Metrics scaled through a combination of organic growth and strategic acquisitions.Nick breaks down what he looks for in an acquisition target, how deals are structured and financed, and what it really takes to integrate teams post-deal.We also cover:The challenges of selling into regulated industries with long sales cyclesHow Nick brought on a private equity partner while keeping controlThe key lessons from growing a 600-person companyHis approach to capital allocation, leadership, and leverageAnd the mindset shifts that helped him grow from a bootstrapped founder to leading a 9-figure businessWhether you're an operator, investor, or aspiring acquirer, this episode is packed with insight.I hope you enjoy this conversation with Nick Keegan.----------------------------------------------Timestamps:00:00:00 - Intro00:00:11 - The early days of Nick and MailMetrics00:07:01 - The story of the first two massive clients (took an extremely long time to close)00:08:06 - Growth through acquisitions00:11:07 - The story of the first two acquisitions (financing and structure)00:16:16 - Post-acquisition strategy00:19:05 - Timeline of all the acquisitions00:20:09 - Improving the bottom line through synergies across the portfolio00:22:59 - The third acquisition almost doubled the business 00:26:00 - 2–3 factors that need to be true for Nick to acquire a competitor00:28:27 - When acquisitions don’t go as planned… 00:32:45 - The decision to partner with a private equity firm 00:37:15 - Nick and his roles over the years00:41:48 - Nick’s view on leverage when doing acquisitions 00:43:40 - What Nick would do if he were to start all over again00:46:35 - MailMetrics today00:48:35 - Your goals can come true—sometimes 10x bigger than you ever dreamed----------------------------------------------Follow Mikk/PrivatEquityGuy on Twitter: ⁠⁠https://x.com/PrivatEquityGuy⁠⁠Nick on X: https://x.com/Nick_KeeganThis podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

Discover the transformative power of networks as a competitive advantage in business and investing. Learn about the influential Triad strategy for fostering meaningful connections, and how to become important to the right people. Delve into the necessity of generosity, persistence, and long-term thinking for effective networking. This conversation is packed with actionable insights to help you navigate the challenges of building your circle, even when you feel unimportant. Unlock the secrets to compounding your network for greater success!

My guest today is Yuen Yung, Founding Partner at HalBar Partners, a firm focused on operator-led acquisitions. In just two years, HalBar and NCA ETA have closed 15 acquisitions totaling $270M in enterprise value, hitting their goal of 10 deals per year.We discuss:Yuen’s journey from immigrant roots to building HalBarThe firm’s investment thesis, fund structure, and capital strategyHow they source operators and deals, and drive post-acquisition valueLessons from wins and misses in ETAHalBar’s playbook for growing EBITDA and scaling portfolio companiesWhether you're an investor, operator, or just curious about ETA and private equity, this episode is packed with insights.I hope you enjoy this conversation with Yuen Yung.----------------------------------------------Timestamps:00:00:00 - Intro00:00:14 - Immigrating from China to the USA00:05:07 - The Shark Tank TV show story00:12:39 - Why you should never fall in love with your business00:14:00 - ETA, search funds, and the thesis behind HalBar Partners00:20:41 - How Yuen met Nate, his co-founder00:25:22 - Deal structures and partnership dynamics with Nate; early investors00:27:21 - How someone with capital can replicate HalBar’s model00:29:42 - Why they chose this specific investment model00:34:12 - 50% of deals are in Europe, 50% in North America00:37:03 - Typical deal structure explained (percentages shared)00:45:12 - Key differences between the U.S. and European markets00:50:35 - How they find the best operators00:53:25 - Selling a company in December 2024 with a 45% IRR01:00:16 - Getting serious about understanding human psychology----------------------------------------------Follow Mikk/PrivatEquityGuy on Twitter: ⁠⁠https://x.com/PrivatEquityGuy⁠⁠Yuen on Linkedin: https://www.linkedin.com/in/yuenyung/⁠⁠This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

My guest today is Jesper Søgaard, co-founder and CEO of Better Collective — a global leader in digital sports media and sports betting information, with over 400 million monthly visits, 1,200+ employees, and 20 international offices.Founded in 2004, Better Collective has grown into a powerhouse through a disciplined mix of organic growth and over 35 acquisitions, including major deals like Playmaker Capital and AceOdds in 2024. The company now owns 11+ media brands, including Action Network, SoccerNews, and HLTV.In this episode, Jesper shares:The founding story of Better CollectiveHow to scale a media company globallyHis M&A playbook and how to integrate acquisitionsHow to think about capital allocation with €111M in EBITDABuilding a 20-year co-founder partnershipOperating in highly regulated markets across the globeAnd why staying in one industry can unlock massive long-term successIf you're an operator, investor, or builder who’s thinking about scale, strategy, and sustained leadership—this conversation is a masterclass in all three.----------------------------------------------Timestamps:00:00:00 - Intro00:00:22 - The early days and how everything got started00:02:35 - Realizing this could actually become a real business00:05:13 - Was it difficult, or were you just having fun?00:06:33 - Partnering with co-founder Christian: strengths and weaknesses00:11:55 - The decision to start acquiring other companies00:17:14 - Revenue streams and how the business makes money00:20:05 - Growing through acquisition — why they wish they'd started earlier00:22:40 - Deal structures: how some acquisitions were put together00:24:57 - Lessons from 35 acquisitions — deals that didn’t go as planned00:27:26 - The strategic thinking behind specific acquisitions00:30:36 - Growing the company has felt like starting a new job every 2–3 years00:33:23 - How Jesper thinks about acquiring a business00:35:49 - Jesper’s approach to capital allocation00:39:32 - Deciding when to reinvest profits vs. paying dividends00:41:07 - A great example of someone who stayed in one industry for decades00:43:43 - What keeps Jesper up at night00:45:07 - Staying humble, but always driven to do more  00:47:30 - Think long-term and always act with decency----------------------------------------------Follow Mikk/PrivatEquityGuy on Twitter: ⁠https://x.com/PrivatEquityGuy⁠Jesper on Twitter: ⁠https://x.com/jespersoegaard⁠This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

Meet Matthew Mathison – Co-founder and Managing Partner at MBL Partners, a firm building and investing in enduring, cash-flowing businesses. With a unique mix of Wall Street experience and entrepreneurial grit, Matthew shares how MBL identifies overlooked opportunities, partners with exceptional operators, and builds long-term value without chasing hype.If you're into real-world investing, smart capital allocation, and the playbook behind durable business success—this one's for you.Please enjoy this conversation with Matthew Mathison., co-founder of MBL Partners.----------------------------------------------Timestamps:00:00:00 - Intro00:00:17 - The defining moment from his hedge fund days that shaped his approach to business00:06:18 - Launching his own hedge fund in his mid-30s00:13:39 - Lessons and stories from seeing a company grow from $100M to over $1B in market cap00:17:47 - Recovering from extremely difficult times: carrying the weight of the world00:21:06 - Obvious red flags when evaluating high-growth companies00:24:18 - The core thesis behind MBL Partners00:29:57 - From advisory to financial investment and equity00:33:31 - Matthew’s 'cup of tea' in terms of investment case00:37:14 - What MBL does when stepping into a business00:40:15 - How they build deal flow00:45:02 - Matthew and his talented team members00:47:43 - A look into their portfolio companies00:52:15 - Matthew’s perspective on using outside capital00:54:35 - Stories of huge successes and epic failures00:59:42 - What’s next on Matthew’s to-do list01:01:17 - Why he’s glad to be starting now—not 10 years ago----------------------------------------------Follow Mikk/PrivatEquityGuy on Twitter: https://x.com/PrivatEquityGuyMatthew on Twitter: https://x.com/matthewmathisonThis podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

In this episode, I sit down with Pascal Levy-Garboua, a seasoned entrepreneur, investor, and the founder of Noosa Labs. After making 140 venture capital investments, including seven unicorns, Pascal shifted his focus to acquiring and scaling small, profitable SaaS businesses under Noosa Labs. His next goal? Building a $50 million ARR portfolio with a 50% EBITDA margin.We dive into his journey—from bootstrapping and navigating trade-offs to executing four acquisitions in his first year. Pascal shares invaluable lessons on structuring deals, managing high-cost debt, and the realities of scaling through acquisitions. He also explains how his experience as a VC has shaped his unique approach to investing in and operating SaaS businesses.If you're interested in entrepreneurship, acquisitions, or building a portfolio of profitable SaaS companies, this episode is packed with insights you won’t want to miss.Please enjoy this conversation with Pascal Levy-Garboua., founder of Noosa Labs.----------------------------------------------Timestamps:00:00:00 - Introduction00:00:18 - A career in technology00:05:33 - Finding fulfillment: Enjoying work for the first time00:10:13 - Bootstrapping a business and key trade-offs00:13:34 - Completing four acquisitions in the first year00:18:53 - Key lessons from the first four acquisitions00:28:54 - What he would do differently if he could redo those acquisitions00:32:17 - Underestimating the challenges of the journey00:34:56 - Defining a North Star for capital allocation00:42:25 - Managing high-cost debt00:50:34 - Understanding what founders can’t or don’t want to do00:52:07 - Personal growth as an acquirer and investor00:54:02 - Typical deal structures and key considerations01:01:20 - How making 140 VC investments, including seven in unicorn companies, shaped Pascal as a SaaS investor----------------------------------------------Follow Mikk/PrivatEquityGuy on Twitter: https://x.com/PrivatEquityGuyPascal on Twitter: https://x.com/2pascThis podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

Meet Arie Scherson, co-founder of Bluedot Holdings, a fast-growing e-commerce and SaaS holding company with six portfolio businesses generating over $10 million in revenue.Arie started his journey as a YouTuber in his 20s, testing 15 different products before mastering Facebook Ads and scaling his first business.Through relentless experimentation, investing, and team-building, he has built a diverse portfolio, including an agency, a SaaS business, and four e-commerce brands. Despite the challenges of managing multiple ventures, Arie continues to acquire, scale, and optimize businesses—proving that content, marketing, and persistence are powerful tools in the modern business landscape.In this episode, we dive deep into his early failures, investment strategy, deal structures, and the key lessons he’s learned on his journey.Please enjoy this conversation with Arie Scherson.----------------------------------------------Timestampls:00:00:00 - Intro00:00:52 - Early days and first failures00:03:50 - Learning everything from Youtube00:05:24 - Working as a server while in university00:07:44 - First company00:11:12 - Current portfolio of 6 companies00:19:09 - It’s often scary to do multiple things00:22:30 - The power of selling only the right products00:28:40 - Experiment as much as you can00:31:25 - How a trendy product became a $500m company00:34:57 - Content is leverage00:38:15 - Ecommerce is hard, really hard00:41:42 - Deal structures00:48:39 - How Arie and his team working to run their businesses00:52:21 - Biggest challenges of the last 2 years00:56:48 - Arie’s secret sauce which allows him to succeed00:59:58 - Why did Arie buy a $50,000+ course?01:04:04 - Favorite book01:06:40 - Best investment advice Arie has ever received01:10:27 - Domino effect on tariffs----------------------------------------------Follow Mikk/PrivatEquityGuy on Twitter: https://x.com/PrivatEquityGuyArie on Twitter: https://x.com/ariesnotebookThis podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

Explore the fascinating mind of Jeremy Giffon, a behind-the-scenes genius in business. He shares his unique approach to acquisitions and capital allocation that has made him an unsung hero in investing. Discover how he identifies hidden opportunities in the market and structures deals that others overlook. His insights into navigating financial blind spots and fostering long-lasting businesses provide a treasure trove of knowledge for anyone interested in wealth-building. This conversation unveils a masterclass in strategic thinking and the art of private investment.