The Top 10 Search Fund Accelerators (2025)

A New Era in Entrepreneurship Through Acquisition

Search fund accelerators have become a strong path for entrepreneurs who want to acquire and lead small businesses instead of starting new ones. The model gives a select group of searchers the structure, capital, and mentorship to buy and run companies as equity-owning CEOs.

In 2025, the search fund world continues to expand across cities like Boston, Chicago, and New Orleans. Programs are helping entrepreneurs turn into leaders by providing resources, coaching, and unparalleled support throughout the search process and beyond.

This guide reviews the top 10 fund accelerators shaping entrepreneurship through acquisition (ETA) and helping search fund entrepreneurs reach success.

Read: Search Funds: The Ultimate Guide

What Is a Search Fund Accelerator (SFA)?

A search fund accelerator (SFA) is a structured program that supports entrepreneurs during their search for a company to acquire. Unlike the traditional search model, which requires independent fundraising and networking, an SFA provides a clear path with funding, mentorship, and training.

An accelerator model creates a collaborative environment where each participant benefits from shared advisors, workshops, and proven strategies. These programs combine capital and guidance to help searchers shorten the acquisition timeline and improve their probability of success.

How the Accelerator Model Works

Most accelerators follow a similar structure:

Search Phase

In this stage, the accelerator provides search capital, tools, and coaching to help entrepreneurs find a company that fits their goals. Searchers learn how to source deals, study businesses, and connect with owners ready to sell.

Acquisition Phase

Once a good deal is found, the accelerator offers acquisition capital and guidance from advisors. Searchers learn how to value a company, handle due diligence, and structure fair terms before taking ownership.

Operation Phase

After the acquisition, the searcher becomes CEO and starts managing the business. The accelerator continues to provide coaching, leadership training, and support to help them run the company confidently and drive growth.

Programs often include group workshops, one-on-one coaching, and access to shared resources that help participants develop leadership and deal execution skills.

The Top 10 Search Fund Accelerators (2025)

These ten programs lead the search fund world today. They are evaluated based on their track record, advisor quality, alumni outcomes, and long-term impact on the entrepreneurship ecosystem.

1. Search Fund Accelerator

Search Fund Accelerator (SFA) in Boston is the first and most recognized accelerator model for search fund entrepreneurs. Founded by Timothy Bovard, SFA helps participants acquire and operate companies with strong long-term potential.

Location: Boston, Massachusetts

Founded: 2015

Focus: Training, mentorship, and capital support for early-career researchers

Strengths:

• Structured 24-month program
• Direct funding for both search and acquisition
• Access to seasoned advisors and an investor network
• Cohort-based collaboration that fosters shared learning

SFA has produced multiple equity-owning CEOs who now manage profitable small businesses across different industries.

To date, Search Fund Accelerator (SFA) has worked with 46 searchers, and 27 of those have gone on to become equity-owning CEOs of businesses (Search Fund Accelerator).

2. SME Ventures

SME Ventures is known for combining capital, training, and one-on-one coaching in a modern accelerator setting. The firm was founded by entrepreneurs with ETA experience who wanted to create a program offering more than just capital.

Location: Chicago, Illinois

Focus: Helping entrepreneurs acquire and grow small to mid-sized companies

Program Highlights:

• Provides search capital and acquisition support
• Advanced accelerator model with structured mentorship
• Small cohort size that promotes collaboration
• Advisors with experience across industries, including software, services, and manufacturing

SME Ventures helps searchers move from the search process to active management while maintaining strong alignment with investors.

3. Pacific Lake

Pacific Lake Partners is one of the leading firms in the search fund world. Founded by Jim Southern and Coley Andrews, it supports both traditional search and accelerator-backed entrepreneurs.

Location: Boston, Massachusetts

Focus: Long-term investment and coaching for search fund entrepreneurs

Distinct Features:

• “Just capital” and strategic mentorship model
• Advisors who are former searchers and CEOs
• Long-term partnerships that support growth and management development

Pacific Lake’s experience spans hundreds of searchers, making it a consistent leader in the ETA community.

4. Trilogy Search Partners

Trilogy Search Partners works closely with search fund entrepreneurs, offering funding and ongoing operational mentorship. The firm has a strong track record of helping participants become successful CEOs.

Location: Seattle, Washington

Focus Areas:

• Funding and support during the search process
• Practical training in leadership and business management
• Peer collaboration with other searchers and advisors

Trilogy’s leadership network and strategic coaching make it one of the most trusted names among ETA investors.

5. Broadtree Partners

Broadtree Partners combines a private equity model with the mentoring style of an accelerator. It focuses on helping entrepreneurs acquire and operate lower-middle-market companies.

Location: Charlotte, North Carolina

Approach:

• Partner with searchers during both search and post-acquisition phases
• Collaborative team that provides sales, management, and strategy tools
• Ongoing access to industry experts and capital partners

Broadtree offers entrepreneurs the chance to learn from past leaders who have successfully run small businesses through acquisition.

6. Relay Investments

Relay Investments supports searchers with capital, operational guidance, and post-acquisition coaching. The firm’s model emphasizes partnership and lifelong learning.

Location: Boston, Massachusetts

Program Features:

• Equity and debt funding for searchers and companies
• Advisor network covering finance, management, and sales strategy
• Resources and workshops focused on leadership development

Relay has invested in over 100 search funds, helping founders become long-term business owners.

7. Chenmark Group

Chenmark operates as a permanent holding company rather than a traditional accelerator. It allows entrepreneurs to join a family-owned group of small businesses and lead operations as partners.

Location: Portland, Maine

Focus: Long-term partnership and management experience

Model Highlights:

• Entrepreneurs gain equity in operating companies
• Collaborative environment with hands-on leadership support
• Focus on sustainable growth and alignment between investors and operators

Chenmark’s mission reflects a reinvented entrepreneurship model that prioritizes stewardship and community over short-term exits.

8. NextGen Growth Partners

NextGen Growth Partners combines search fund principles with institutional investment backing. The firm helps entrepreneurs through the entire ETA journey.

Location: Chicago, Illinois

Specialization:

• Provides capital, resources, and operational tools
• Uses technologies and analytics to improve deal sourcing
• Offers in-house advisors, workshops, and leadership training
• Structured post-acquisition coaching for first-time CEOs

NextGen is one of the few accelerators that integrates operational strategy and data-driven acquisition support under one firm.

9. Halstatt Legacy Partners (HLP)

Halstatt Legacy Partners supports search fund entrepreneurs by combining private capital with a long-term partnership. The firm focuses on helping entrepreneurs obtain and operate established lower-middle-market companies while maintaining strong alignment between investors and operators.

Location: Naples, Florida

Specialization:

• Provides full equity capital and access to senior debt financing for acquisitions
• Focuses on established companies with $1M–$5M in EBITDA
• Offers hands-on support and mentorship throughout the search and acquisition process
• Builds lasting partnerships that emphasize alignment, leadership, and business growth

Halstatt Legacy Partners stands out for its long-term investment vision and collaborative approach. It provides not just capital but guidance.

10. Pathfinder Group

Pathfinder Group offers structured mentorship, leadership workshops, and deal support for searchers on the West Coast.

Location: San Francisco, California

Program Overview:

• Focus on acquisition strategy and leadership development
• Access to industry-specific advisors
• Peer collaboration through cohort-based learning

Pathfinder emphasizes clarity, discipline, and leadership practices to prepare participants for life as equity-owning CEOs.

Comparison Table: Search Fund Accelerator Highlights (2025)

Comparative Highlights by Category

Read: How to Start a Search Fund — The Ultimate Guide

What Makes a Great Search Fund Accelerator

The most effective fund accelerators share three traits that consistently influence entrepreneurial success:

1. Mentorship and Coaching

Access to experienced advisors who guide participants through sourcing, valuation, negotiation, and leadership challenges. Top programs emphasize small cohorts, peer discussion, and applied learning.

2. Balanced Capital and Equity Structure

Strong accelerators provide clear funding paths and fair equity alignment between entrepreneurs and investors.

3. Community and Collaboration

The best SFAs build a lasting network. Alumni continue to share lessons, discuss challenges, and collaborate on future deals.

Challenges in the Search Fund Accelerator Path

While the model provides strong support, it comes with challenges such as:

• Equity Alignment: Balancing ownership between investors and entrepreneurs.
• Deal Competition: Finding high-quality acquisition targets in a competitive market.
• Operational Learning Curve: New CEOs face real management challenges once they acquire a company.

Successful accelerators address these challenges through strong coaching, clear training programs, and continuous mentorship.

Life After the Acquisition: From Searcher to CEO

The search process is only the beginning. Once the acquisition closes, entrepreneurs face the daily realities of leadership: managing people, setting vision, driving sales, and building sustainable growth. Great accelerators extend beyond funding. They offer continued training, post-acquisition mentorship, and leadership workshops.

Alumni communities often host peer sessions where CEOs share updates, troubleshoot challenges, and refine best practices. That sustained guidance helps new leaders grow from searchers to confident operators managing millions in enterprise value.

How to Join the Right Accelerator Program

Choosing the right search fund accelerator starts with knowing yourself and your long-term vision.

Research and Compare: Visit each firm’s website, review its mission, advisors, and funding model.

Hear from Past Participants: Learn how alumni handled acquisition challenges and team leadership.

Assess Alignment: Match your personal risk tolerance, preferred industry, and management goals with the accelerator’s structure.

Join a Partner That Fits Your Path: The best program isn’t the largest. It’s the one that aligns with your leadership style and growth ambitions.

The Future of the Search Fund World (2025 and Beyond)

The search fund ecosystem is expanding fast. Cities like Boston, Chicago, and New Orleans continue to launch new programs, often integrating technologies that improve sourcing, analytics, and operations. As more investors, entrepreneurs, and advisors join this movement, the ETA model is evolving from a niche path into a mainstream career in entrepreneurship, which offers exciting opportunities for those ready to attain, lead, and create long-term impact.

De-Risking the Search

How Accelerators Reduce Stress, Mistakes, and Isolation in the ETA Journey

“I’m looking to mitigate some risk in the entrepreneurial context. This is fundamentally a risky venture. By partnering with Search Fund Accelerator (‘SFA’), I have experienced and knowledgeable investors in my corner who are investing capital and time in my personal and entrepreneurial development. … I feel like I’m part of a supportive community that’s invested in and oriented around my development and success.” - Joe Chao (Yale SOM alum, joining SFA)

“When speaking with searchers about the search process, the most common word you’ll hear is ‘grind’ … Searchers in a cohort have the opportunity to lift each other up; … The accelerator will make you less miserable than you would have been in a traditional search fund process.” - article from SME Ventures

"An effective accelerator is designed to reduce the amount of squandered time, the number of costly mistakes, and the degree of misery throughout the search fund journey, thereby ultimately improving the searcher’s likelihood of success." - also from an article by SME Ventures

5 Expert Tips for Aspiring Search Fund CEOs

Learn the Search Process Before You Apply

Understand how each accelerator supports your journey, starting from sourcing deals to managing the company. Knowing the full search process helps you choose a program that fits your skills, interests, and leadership style.

Focus on Fit, Not Just Funding

A good accelerator is more than a fund accelerator. Look for one that matches your values, coaching needs, and preferred industries. Programs that offer a strong collaborative environment often produce more confident CEOs.

Build Relationships Early

Connect with advisors, past searchers, and mentors before joining any program. These relationships can open opportunities, improve deal flow, and help you develop your sales and negotiation skills once you start your search.

Treat Leadership as a Skill You Can Train

Successful equity-owning CEOs are trained, not born. Take full advantage of workshops, feedback sessions, and one-on-one coaching that accelerators offer to strengthen your management and communication skills.

Learn From Every Acquisition Example

Study past deals and company outcomes shared by accelerator alumni. Seeing how other search fund entrepreneurs managed their acquisitions and growth will give you real-world insight into what works and what doesn’t.

The Bottom Line

Search fund accelerators are transforming how entrepreneurs step into ownership. These programs give a select group of motivated searchers the structure, funding, and mentorship needed to acquire and grow real businesses. They turn ambition into action by helping entrepreneurs become confident, equity-owning CEOs who create long-term value. If you’re ready to build your career in entrepreneurship through acquisition, now is the best time to start learning, connecting, and taking your next step toward leadership.

Take the Next Step in Your Search Fund Journey

Our expert coaches can help you make confident steps forward. Refine your strategy, prepare for accelerator applications, and strengthen your leadership skills for life as a CEO.

You can also download Leland’s proven cold outreach templates designed specifically for search fund roles. These are the same frameworks top candidates use to secure interviews with investors, operators, and leading accelerator firms.

• The Ultimate Cold Outreach Template
• Email and LinkedIn Networking Templates for Outreach

Read these next:

• How to Find & Land a Search Fund Internship
• How to Run a Self-Funded Search Fund (2025)
• Top 20 Search Fund Investors (And What You Need to Know)
• List of Top Search Funds (2025-2026)
• Search Fund vs. Venture Capital: How to Know Which One is Right for You
• Understanding Traditional Search Fund And How It Differs From Self-Funded Search

FAQs

Who is the CEO of Search Fund Accelerator?

• The CEO of Search Fund Accelerator is Timothy Bovard, who leads a select group of entrepreneurs through the search process to gain and grow real businesses.

What is a Search Accelerator?

• A search accelerator is a program that helps SF entrepreneurs find, acquire, and manage a company by providing capital, sales guidance, and mentorship.

What is a Fund Accelerator?

• A fund accelerator supports entrepreneurs with funding, training, and coaching to speed up their path to acquiring or scaling a business.

What is the Difference Between a Search Fund and a VC?

• A search fund focuses on buying one established company with steady sales, while a VC invests in multiple early-stage startups seeking fast growth.