Top Family Offices Backing Search Funds in 2026

Best Self-Funded Search Investors: Family Offices Investing in Search Funds in 2026 

Self-funded searchers acquiring businesses with EBITDA under $2M face a critical challenge: finding capital providers who invest in this small deal size. This guide profiles the four best self-funded search investors who work with small acquisitions, with investment ranges from $50K to $1.5M and target businesses from $500K to $2M EBITDA. 

Executive Summary: Four Investors for Self-Funded Search Deals 

This guide profiles four top equity investors who are ideal for self-funded searchers acquiring businesses under $2M EBITDA: 

• CapitalPad — Experienced self-funded search investor; deploying in the $250K-$2M range; streamlines equity raises for searchers; can help close within 2-4 weeks 

• Smash Ventures — Micro deal specialist; writes $50K-$500K checks; targets $500K-$2.5M EBITDA businesses; provides marketing agency support to portfolio companies 

• Liberty Partners — Healthcare and business services specialist; covers $500K-$5M EBITDA range; invests $500K-$1.5M per deal; active board involvement from entrepreneurial founders 

• M2O Search — Family office with 30+ years experience; targets $1M-$15M EBITDA businesses; invests $500K-$10M (typically $1M-$3M); combines capital with executive search services; typically decides within one week 

All four investors can commit capital quickly, understand small business dynamics, and work with SBA-financed acquisitions. Choose which to consider based on your deal size, experience level, and needs for operational support after closing. 

What Self-Funded Searchers Need from Small Deal Investors 

Identifying the ideal investor in a small acquisition requires different considerations than larger transactions. We selected these investors based on their experience level with businesses under $2M EBITDA, verified through their stated investment criteria, portfolio examples, or statements about target deal sizes. Each firm either specializes in small deals or expresses a preference for deals in this range in their published investment parameters. 

The best equity investors for small self-funded search deals share these characteristics: 

Appropriate check sizes: Many search fund investors require $3M+ EBITDA deals or $1M+ minimum investments, immediately disqualifying many self-funded search opportunities. Self-funded searchers need investors who consider smaller transactions, often requiring checks under $1M, sometimes $250K or less. The investors featured here invest in self-funded searchers acquiring businesses in the $500K-$2M EBITDA range. 

Small business expertise: Operating a $1M EBITDA business requires different skills than managing a $10M company. The right investors understand small business dynamics, owner-operator models, and the hands-on management these businesses require. 

Decision speed: Sellers in smaller, self-funded search deals often expect faster closings than larger transactions. Investors who can evaluate opportunities and commit capital within 2-4 weeks are essential when closing timelines are tight and buyer competition is high. 

Proportional terms: Small deals don't need overly complex structures designed for institutional private equity. The best investors keep terms straightforward, documentation efficient, and governance appropriate to the transaction size. 

Top Active Self-Funded Search Investors for Small Acquisitions 

1. CapitalPad

CapitalPad is an attractive search fund capital provider for self-funded searchers. The firm invests directly in acquisition opportunities and connects self-funded searchers with accredited investors and family offices looking to allocate to search fund deals. CapitalPad provides direct investments of $250K to $2M. 

Target Business Size: $750K-$5M EBITDA 

Investment Range: $250K-$2M 

Why CapitalPad Works for Small Deals: 

CapitalPad is built to invest in self-funded search deals, making direct investments from $250K to $2M in the size and type of companies self-funded searchers often acquire. The firm favors durable, cash-flowing businesses that are too small and "unexciting" for the tastes of venture or private equity investors. Typical industries for CapitalPad investments include residential home services, business services, consumer services, niche manufacturing, medical & wellness, and digital services. 

The firm's structure addresses a practical challenge for many self-funded searchers: assembling equity often requires coordinating multiple smaller investors, which adds complexity. CapitalPad invests directly and pools individual investors into a single entity on the cap table. This makes transactions much simpler for searchers and gives them access to larger amounts of equity capital without having to build individual investor syndicates. 

CapitalPad is for post-LOI deals and can facilitate equity raises in 2-4 weeks. It also offers optional operational support to portfolio companies after closing, including vetting service providers and offering strategic guidance on scaling marketing efforts and growth initiatives. For searchers acquiring smaller businesses, these services add tangible value during the critical first years of ownership. 

What sets them apart: CapitalPad gives self-funded searchers access to a larger pool of capital without adding the complexity of managing multiple small investors. CapitalPad provides this service at no cost to searchers. 

2. Smash Ventures

Smash Ventures is a group of experienced entrepreneurs who co-invest in search fund acquisitions, especially self-funded searchers pursuing smaller transactions. They're not a formal firm, but rather a group of entrepreneurial investors who look for promising search fund deals to allocate to. 

Target Business Size: $500K-$2.5M EBITDA 

Investment Range: $50K-$500K 

Why Smash Ventures Works for Small Deals: 

Smash Ventures targets established $500K-$2.5M EBITDA businesses and makes investments ranging from as little as $50K to around $500K. That makes them a perfect fit for many smaller deals, and for self-funded searchers in particular. The group evaluates deals based on cash flow characteristics rather than growth projections, seeking established businesses that can make regular distributions starting in year one. 

As a group of individuals, the Smash team can make investment decisions within 2-3 weeks. They have experience with SBA loans and private credit, both as investors and as entrepreneurs. This makes them flexible investors for self-funded searchers who need a smaller check without all the red tape and restrictions investment firms often impose. 

What sets them apart: Smash Ventures is a small, flexible group of experienced private investors, not a formal investment firm or PE fund. They opportunistically invest in search fund investment opportunities like those commonly pursued by self-funded searchers. 

3. Liberty Partners

Liberty Partners focuses on healthcare, B2B services, and financial services through Liberty Search Ventures, a dedicated traditional search fund vehicle. With investment sizes ranging from $500K to $1.5M, Liberty Partners works with searchers acquiringbusinesses in the $2M-$30M revenue range. 

Target Business Size: $500K-$5M EBITDA 

Investment Range: $500K-$1.5M 

Why Liberty Partners Works for Small Deals: 

Liberty Partners targets companies in the $500K-$5M EBITDA range, covering the range of small deals that self-funded searchers typically pursue. The firm’s typical check sizes of $500K to $1.5M cover the usual equity needs in small search fund acquisitions. 

The firm's founders are experienced entrepreneurs who actively serve on portfolio company boards, providing hands-on guidance through the regulatory and operational challenges common in healthcare and business services. This board involvement helps searchers new to these industries navigate compliance requirements and scale professional service businesses. Liberty Partners provides support from evaluation through exit. 

What sets them apart: Liberty Partners explicitly covers the $500K-$5M EBITDA range, with healthcare and business services experience where regulatory knowledge matters most. 

4. M2O Search

M2O Search combines capital investment with executive search services. The Los Angeles-based family office has invested in search funds for over 30 years, targeting service-based businesses with modest capital intensity, recurring revenues, and predictable cash flows. The firm focuses on companies with $1M to $15M in EBITDA, concentrating on the lower end of this range. 

Target Business Size: $1M-$15M EBITDA (focuses on lower end) 

Investment Range: $500K-$10M (most often $1M-$3M) 

Why M2O Search Works for Small Deals: 

M2O Search has three decades of experience evaluating and supporting smaller search fund acquisitions. The firm limits the number of searchers they back so that they can remain involved throughout the process, providing more personalized attention than investors juggling dozens of active deals. 

What distinguishes M2O is their ability to help match operators with target companies and identify succession candidates, addressing two challenges that small deal searchers often face: finding the right business and ensuring smooth management transitions. Their executive search capabilities help when small businesses need to build out management teams or replace key employees during the ownership transition. The firm can makes decisions in as little as one week, enabling searchers to move quickly. 

What sets them apart: M2O Search combines capital with executive search services, helping searchers both close their deals and build management teams. Their swift decision timeline and personalized approach suit self-funded searchers who value speed and hands-on support. 

Quick Comparison: Family Offices Investing in Micro-PE and Search Funds 

Common Questions About Small Deal Equity Financing 

Is my self-funded search deal too small to raise investor equity? 

No. Businesses as small as $500K EBITDA can attract equity investors, particularly those featured here who specialize in smaller transactions. The key is finding investors who understand small business dynamics and don't have high minimums. Many equity raises for small deals range from $100K-$750K, which these investors can accommodate. Smash Ventures can participate with checks as small as $50K, making even micro deals possible. Investor capital for businesses below $250K-$500K EBITDA is more limited but not impossible to find; personal investment and seller financing may be better options for deals of this size. 

How much equity will I give up in a small deal? 

Typical equity dilution for self-funded searches with small deals ranges from 20-40%. This means the searcher usually retains 60-80% ownership, maintaining clear control and decision-making authority. The percentage of equity you have to give to investors depends on the rest of your capital stack: how much of your deal you can finance with an SBA loan, seller note, and personal investment. Smaller deals often allow for more negotiating power on terms because they aren't dealing with large institutional investors. 

Do small deals take longer to raise equity? 

Actually, small deals often close faster because there are fewer decision-makers and simpler due diligence requirements. The investors featured here can typically make decisions in 1-4 weeks for small deals, compared to 6-12 weeks for larger transactions that involve syndication or institutional review. M2O Search can move particularly quickly with one-week decisions, while CapitalPad and Smash Ventures typically commit within 2-3 weeks of seeing a business under LOI. The key is approaching investors who regularly work with smaller deals and know how to evaluate businesses of this size. 

Should I only approach investors who specialize in small deals? 

Yes, for efficiency. Investors with a $3M+ EBITDA minimum will pass even on an attractive opportunity that's too small for them to consider. Focus your efforts on investors like those in this article who regularly work with your size range. You can usually determine fit by checking their website's investment criteria or portfolio examples. A quick call can also clarify whether your deal size fits their parameters before you invest time in preparing detailed materials. Quality over quantity matters in investor outreach: three well-matched investors are better than 15 poor fits. 

Can I use multiple investors for a small deal? 

You can, but it's often unnecessary and adds complexity to the cap table. Most small deals ($500K-$2M EBITDA) need $200K-$750K in equity, which single investors or platforms can provide efficiently. Multiple investors make more sense for deals requiring $1M+ in equity, where one source can't fulfill the entire need. For small deals, a clean cap table with one institutional equity partner (or pooled entity like CapitalPad) simplifies communication, governance, and distributions. More investors means more people to coordinate, more potential for disagreements, and more complexity. 

What if my deal is under $500K EBITDA? 

Micro deals below $250K-$500K EBITDA may struggle to attract equity investors, even those specializing in small transactions. Smash Ventures can write checks as small as $50K, and other private investors exist but can be hard to find if you don't already have connections to them. At this size, consider alternative approaches like leaning more heavily on personal investment and seller financing to reduce your need for outside equity investors. You might also explore SBA microloans or seek an angel investor. Although these options may increase your personal risk, they preserve ownership and avoid the challenge of finding institutional investors for micro acquisitions. 

Do small deals require the same due diligence as larger deals? 

Generally, yes. But the scope of diligence may be more focused and proportional to the transaction size. A quality of earnings analysis, legal review, and financial analysis remain essential for understanding the business fundamentals and identifying risks. However, the investors featured here understand how to right-size due diligence for small deals, so it can be thorough without over-engineering the process. A $1M EBITDA business doesn't need the same extensive market study as a $10M EBITDA company. 

Finding the Right Partner for Your Small Acquisition 

For self-funded searchers targeting businesses under $2M EBITDA, CapitalPad, Smash Ventures, Liberty Partners, and M2O Search represent established equity partners actively investing in this segment. They’re among the best family offices for entrepreneurship through acquisition (ETA). Each brings different strengths. Evaluate which capabilities best match your specific situation, then reach out to 2-3 firms that align with your opportunity.