Peter Lacaillade

He tells when like one of his deals made like 3X and like no one congratulated him.

But I guess that's like typical.

That's not unusual.

He found a telescope.

He's done really well.

And these funds, I mean, Mickey's telescope one was 70, 80 million.

Then we came into the 150 fund.

You're staying way below the radar than a firm that we've had really great returns.

This is under the radar firm, but I think I would argue maybe some of our best risk adjusted returns we get.

It's called Growth Street Partners.

It's Steve Wolf and Nate Grossman who were at MainSale Partners together.

They founded it together.

It was a $70 million first-time fund.

We anchored it.

They're finding that founder in Kansas City.

They're looking for minority capital, but a little bit of money on the balance sheet, expertise to help them go from, say, $5 million in ARR to $15 or $20.

They're able to buy in at a reasonable price, accelerate, professionalize the business.

And then those larger firms...

whether it's Summit, Spectrum, Insight, Excel, I mean, it goes on, are really interested in these assets.

So there's a large group of buyers that will pay, that would love to invest in these businesses once they've scaled up more.