Nathan Latka

Can you explain sort of GP, LP structure, like how that works?

Mark Leonard is also one of my heroes and his letters are legendary.

Uh, I wish he did more interviews, but we only have the letters for now.

At least there's 20 years of them.

So we have a lot of letters to read.

Um, but when you, just to repeat all that back to you, you effectively have like SAS group Inc.

It started off with 100% of your own money for the first two acquisitions.

You then got a line of basically a credit line against that.

And then you brought in $25 million.

It sounds like this was actually sort of a bunch of LPs that you respect, sort of a party round you put together.

This wasn't some big fund that by themselves stroked a $25 million check.

Okay.

And then you mentioned the last source of financing, which is...

Yeah.

You mentioned the last source of funding, which is the best source of funding is obviously your own profits.

You mentioned the company's profitable.

You recently mentioned on another episode, you had about 20 businesses doing about 60 million, six year of ARR, 300 people total.

Are those all accurate?

Yeah, it's so accurate.

And so in 2023, you mentioned profitability, how much sort of operating cash flow flowed back up to SaaS group, the parent code from all the companies?