What Makes a Great Search Fund Investor?
Capital is the easy part. The investors who add the most value are those who have lived the search themselves — and know when to speak and when to listen.
Entrepreneurship Through Acquisition
We back the entrepreneurs who build enduring businesses.
Gallium Growth partners with exceptional individuals pursuing acquisition entrepreneurship — whether through a search fund, a self-funded search, or a management buyout. We provide capital, guidance, and a network built on experience.
01Investment Thesis
"Entrepreneurship through acquisition is one of the most compelling paths to building a lasting business."
We invest in people before we invest in businesses. Our thesis is simple: find driven, intellectually curious individuals who want to own and operate a business — and give them the resources to do it well. Whether the path is a traditional search fund, a self-funded search, or a management buyout, the fundamentals are the same. We have been through this process ourselves, and we know what it takes.
01
Operator-First Capital
We back entrepreneurs who want to run businesses, not flip them. Long-term ownership and operational excellence are at the core of everything we fund — regardless of the acquisition structure.
02
Sector-Agnostic Rigour
We evaluate businesses on fundamentals — recurring revenue, defensible niches, and strong management potential — not sector trends or deal type.
03
Partnership Over Transaction
Our relationship with the entrepreneurs we back does not end at the term sheet. We stay engaged through acquisition, transition, and the long operating phase that follows.
02Publications & Insights
Thinking out loud on acquisition entrepreneurship.
The European ETA Landscape in 2026
Europe's entrepreneurship through acquisition ecosystem has matured rapidly. Here is what we are seeing on the ground — and what it means for entrepreneurs entering the market today.
Evaluating an Acquisition Target: A Framework
Not every good business is a good acquisition target. Here is how we think about the key dimensions of target evaluation — and the questions that matter most.
03The Team
People who've been in your shoes.
Our partners are former operators, investors, and acquisition entrepreneurs. We know the process because we have lived it.
LC
Leonardo Elvas Carvalho
Co-Founder & Partner
TP
Tiago Neves Paixão
Co-Founder & Partner
04Portfolio
The searchers we back.
CC
COLCA Capital III
Paolo Bossano
TF
TERRAFIRME Capital
Marc Giné
CR
CRILUZ Capital
Pablo Paez & Gonzalo Fernández
ZC
ZINC Capital
Leonardo Carvalho & Tiago Paixão
PT
PAG Transmission
Paul-Arnaud Gros
OR
ORHATA Capital Partners
Guillaume de Braquilanges & Pierre Bondroit
Showing 6 of 28 backed fundsSee all
04
Ready to pursue your acquisition?
Whether you are exploring entrepreneurship through acquisition for the first time, running a search fund, or structuring an MBO, we would like to hear from you. No pitch deck required.