My guest on this episode is Andy Ellis, a managing partner of Localize Capital in Pittsburgh which, as the name suggests, focuses on investing in companies and entrepreneurs around the Pittsburgh area. Little known fact about me, I used to live in Pittsburgh as a young kid and was extra excited for this conversation because of that. Andy grew up in Pittsburgh, worked in Southern California, and eventually moved back to Pittsburgh to help form Localize.
Andy and I talk extensively about the structure of Localize and how they choose to invest in companies over a very long term, with a core idea being to look for owners who think not just in years, but generations.
You may have heard of the concept of finite and infinite games, a concept written about by author James Carse. A finite game has known players, a beginning and end, and set rules, whereas infinite games have known and unknown players, no end, evolving rules, and the goal is to perpetuate the game. If this concept sounds interesting, this conversation is for you as we discuss this concept in the context of private equity and entrepreneurship.