Plenty of M.B.A.s finish business school with a hot startup pitch for investors. The latest breed of student-entrepreneur is skipping the startup part and pitching themselves as the investment.
. The M.B.A. uses the money to search for a privately held, under-the-radar business and run it as chief executive and part owner.
Most M.B.A. searchers hailed until recently from Harvard and Stanford universities, whose M.B.A. programs supported them with relevant coursework and in-the-know professors. Now, more schools and students are getting in on the action. For M.B.A.s, the search-fund model is a way to become a CEO and business owner soon after graduation, without starting a business from scratch. Though some non-M. B. A.s have led search funds, recent M.B.A. graduates have used the networking and mentoring support they get from their business schools to start the majority of them.
Duke University, Dartmouth College and Columbia University have recently launched courses on the model. New clubs for learning about search and leadership strategies at the Massachusetts Institute of Technology, Babson College and Northwestern University say they have collectively attracted hundreds of students over the pandemic.
The 29-year-old Mr. Barnard said he sensed employees’ skepticism at first. “You see this young face,” he said. “What is this guy going to do?”
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