David Raets Survey

 David Raets, Balto Advisory & Acquistions

Balto Advisory & Acquistions, Current Searcher, Self-Funded

Survey completed September 18, 2020.

Why did you choose your model? Would you make the same choice again?

Time to educate investors in europe + no strong need for day to day living revenue

Are you searching with a partner? If so, why did you choose them? How did you find them? If not, why did you choose to search solo?

No. Partner would be nice but good partners for the long term are difficult to find.

When is the right time to start speaking with investors? How did you select your search and/or acquisition investors?

Asap: early to verify value proposition, then advise, then raising funding commitment

Did you get an MBA before searching? If so, where and why?

Yes. Insead.

What is your work experience prior to searching?

15 years. Latest startup building.

What industries and sizes of companies are you pursuing?

2-10mm eur EV

Are you doing a geographically focused search? If so, where?


How long have you been searching?

3 month

What systems do you use? (CRM, Email Manager, etc)


How do you organize your day?


How do you identify prospects to acquire? Do you use only brokers, only direct outreach, or both?

Both. More direct outreach.

Approximately how many direct outreach calls and emails have you made to owners?


How do you find company lists?

Difficult in this part of the World

Do you subscribe to broker deal lists? Which ones?


Do you use interns? If so, how many? What do you have them do?

Not yet.

Approximately how many deals have you reviewed?


How many companies have you gotten to the LOI stage with? How long before your first one?


What has been the most challenging part of your search? What was harder/easier than you expected?


What articles, books, and resources were most helpful to you in preparing to search?


What do you wish you knew prior to searching?

Just start.

What single piece of advice would you share with prospective searchers?

Just start.


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I’m always looking to connect with folks interested in this space, don’t hesitate to reach out.