Private Equity Value Creation Podcast

Shiv interviews Chris Sznewajs, Founder and Managing Partner at Pacific Avenue Capital.In this episode, Chris and Shiv discuss carve-outs, buyouts, and the non-traditional types of investment deals available for “unnatural” owners – founders and investors who are ready for a transition. Learn how to underwrite these types of deals, and what benchmarks Chris's team looks for in potential portcos. Hear about how Pacific Avenue Capital leverages their internal ops team during diligence and how they execute value creation plans post-close, as well as the balancing act of deploying more capital in order to generate higher returns from portcos. 

On this episode of the Private Equity Value Creation podcast, Shiv speaks with Amanda Kim, Principal at Avante Capital Partners. As a majority women- and minority-owned private credit and structured equity fund, the team at Avante Capital Partners uses their unique insights and network to win deals, generate better returns and help women advance in the private equity world. Learn how focusing on a positive social mission can be a value-add rather than a cost, why it's vital to find a competitive edge in the current investment market, how to build a supportive and productive community, and the advantages of having a diverse investment team.

Shiv interviews Mason Myers, Founder and CEO at Greybull Stewardship. In this episode, Mason explains why Greybull Stewardship focuses on pre-middle-market companies and the steps they take to set these companies up to be true middle-market companies primed for PE backing. Learn how they take companies under $5M in EBITDA and grow them organically, first by building foundational work, like adding the right software and building the team, before they can begin to see the value creation payoff. 

Shiv interviews Devon Kirk, General Partner, and Jonathan Metrick, Chief Growth Officer at Portage. Devon and Jonathan share their perspectives from different sides of the investment table – Devon is on the investing team while Jonathan is on the internal ops team. Learn about their experiences investing in global FinTech and financial services, when in the deal cycle to bring in the ops team, and how they interface with each other during diligence and beyond. Plus, hear about how specializing in one vertical impacts the investment approach.

Shiv interviews Joseph Hanna, Founding Partner at Pivoting Model Partners.In this episode, Joseph talks about differentiating between your product's feature set and the customer's perceived value in that feature set. Learn why companies should consider pivoting to AI to grow and sustain their business, and how companies can deploy and leverage AI agents to be more efficient, capture more customers, generate more leads, and improve their product overall.

Shiv interviews Jim Sharpe, Partner and Head of Propel at Unity Partners.In this episode, Jim talks about how to truly action a company's values and incorporate them into your growth plans while ensuring alignment with founders. Learn about building a culture of ownership, how to use employee equity as a growth strategy, and why clear and transparent communication makes a big impact.

Shiv Narayanan, Founder and CEO of How To SaaS, explains how AI can be leveraged by the private equity world. Learn about the differences between general and verticalized (or specialized) AI and how data is the product. Listen to how PE firms can use AI in the diligence phase, and the business strategy for companies to build their own vertical AI tool using proprietary data.

Shiv interviews Josh Schwartz, Operating Principal at Growth Factors. In this episode, Josh talks about the unique operating partner model between Growth Factors and Bregal Sagemount. Learn his approach to value creation from the GTM side, how to look for growth levers during diligence, and how to navigate the political dynamics between operating partners and a portco's leadership team.

Shiv interviews Todd Morrissey, Partner at Hidden River Strategic Capital. In this episode, Todd shares alternative avenues for founders and entrepreneurs other than a growth equity buyout and private credit deals. Learn how they help companies determine how much capital they need to scale, the opportunities for combining debt and equity as an investment avenue, and why some types of companies are best suited for this approach.

Shiv interviews Brad Armstrong, Partner at Lovell Minnick Partners (LMP). In this episode, Shiv and Brad talk about LMP's approach to supporting their portfolio companies with a robust operating partner bench, as well as how to prioritize where to allocate budget, resources, and advisors when making value creation plans. Learn about weaponizing the value creation team and other benefits outside of the initial capital investment, and how to get your advisors' support before the deal is done.The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Stephen Marks, Managing Director, Emmersion Capital.In this episode, Shiv and Stephen discuss the benefits and challenges of nearshoring, including the economies of scaling your workforce in Latin America, onboarding and company culture, as well as macroeconomic risks and political challenges. Learn about labor arbitrage opportunities, the complexities of dealing with foreign taxes and legal systems, and more.

Shiv interviews Diamond Innabi, Principal at Software Equity Group. In this episode, Diamond shares how investment banks can help founders position their companies to increase the likelihood of transactions. Learn how successful founders think about the process of exiting, as well as how to maximize the valuation of a transaction and ensure the interests of founders and investment banks are aligned. 

Shiv Narayanan, Founder and CEO at How To SaaS, shares his presentation from Silicon Y'All 2024. Learn about the nine critical marketing problems most companies face, from poor gross revenue and net retention problems to not generating enough traffic or leads. Shiv also shares the five most common value creation scenarios and the four major marketing mistakes companies make.

Shiv interviews John Bailey, Co-Founder at OneFund Investments. In this episode, John shares how he runs his fund of funds, how he vets the PE firms they invest in, and the pros and cons of how PE firms approach operating teams. Learn about key differences between the three models for operating teams within PE firms, how to build a lean (but impactful) ops team, as well as how an integrated ops team can drive an investment forward for everyone. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

This episode is sponsored by scaleMatters. In this episode, Shiv Narayanan interviews Scott Stouffer, CEO and Founder at scaleMatters, to talk all about data – data hygiene, data infrastructure, and the insights that come from data to make those important value creation decisions. Learn how scaleMatters – a firm that specializes in go-to-market analytics – reviews and audits client data, why it's important for companies and PE firms to take on this work, how to establish the metrics you need in your dashboards, and more.  The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Sean Cantwell, Managing Partner at Volition Capital.  In this episode, Sean shares how Volition Capital's  operations teams support their portcos with the resources, tools, and frameworks they need to grow. Learn about  best practices including portfolio summits, internal resource portals, and training. Hear about when it makes sense to work with generalists vs specialists, how Volition Capital helps portcos build the right team of executives, and what entrepreneurs should focus on in the current period of market correction. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Jordon Kruse, Managing Director and Co-Portfolio Manager, and Matt Wilson, Managing Director and Co-Portfolio Manager, at Oaktree Capital.  In this episode, Matt and Jordon explain their approach to special situations investing, including rescue financing transactions where they restructure the debt and balance sheet of companies. They share how they create the most value for their LPs, how they're protecting themselves from risk, and how a company's cash flow might be impacted by debt service in the current market. Learn about different financing options and the current realities of today's market for PE firms.  The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Krista Skalde, Chief Talent Officer Partner at Inovia Capital, Meryl Almeida, Director of Corporate Development at Inovia Capital, and Kory Jeffrey, Principal & VP, Technology at Inovia Capital. In this episode, Krista, Meryl, and Kory share how they evaluate acquisitions, how to create value from a corp dev perspective, and how to merge corporate cultures. Learn about how Inovia Capital decides if they should build, buy, or partner with companies and what data points they look for to inform their decisions. The panel discusses the analyses you can do to validate acquisitions, how to make capital allocation decisions, and what it takes to integrate companies once they've been acquired. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Aldy Keene, CEO at Loyalty Research Center. In this episode, Aldy shares how to evaluate the quality of relationships to understand how loyal a company's customer base really is, and how both founders and investors can use that data to create value. Learn why companies should spend more time analyzing their customer base, how to find which segments are truly their best-fit customers, and why expanding their market can stall company growth. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Randy Garg, Founder and Managing Partner at Vistara Growth.  In this episode, Randy explains the situations in which debt is a viable avenue for funding companies, how growth debt differs from growth equity, and how to decide which is right for your company. Learn what the targeted returns are on these types of investments and the role of debt in the current market.  The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Tim Strickland, Advisory Partner at Summit Partners.  In this episode, Tim draws on his experience as CRO of Zoom Info and in leadership roles at large martech companies to discuss what it takes to build and grow multi-hundred and billion-dollar go-to-market organizations. Learn what metrics are important to track to keep everyone aligned with the company's growth objectives and how a company culture built around data requires both accountability and transparency. Hear about Tim's approach to growing people internally and giving new hires time to prove themselves.  The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Brian Neider, Partner at Lead Edge Capital. In this episode, Shiv and Brian discuss best practices for building boards and what board members can do to add value to  portfolio companies. Learn how to guide a business as a board member once you've invested in a company, what the changes to the financial markets mean for PE firms, and how they can source better deals. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Jeff Standridge, Managing Director at Innovation Junkie. In this episode, Jeff shares his framework for a strategic growth plan and how his firm conducts an introductory diagnostic based on seven domains. Jeff discusses some of the best practices within those domains and the questions you can use to determine how senior leadership views each area. Plus, learn how that process informs how a company can course-correct. If you find the podcast helpful, please leave a rating or review. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Paul Swaney, Managing Director of Swaney Group Capital. In this episode, Shiv and Paul discuss how to create value when investing in industrial and manufacturing industries, and how that differs from B2B tech and software investments. Learn how Paul and his team increase capacity by looking at production lines, the impact of workplace safety, and how to increase product demand.  If you find the podcast helpful, please leave a rating or review. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Peter Walker, Head of Insights for Carta. In this episode, Peter and Shiv discuss how PE-backed companies can use equity to attract, compete for, and retain employees, as well as to grow companies and increase continuity. Plus, learn how Carta's first-party data helps PE firms, management companies, and founders learn from industry trends and best practices, including the recent Ownership Trends in Private Equity: 2024 report.   If you find the podcast helpful, please leave a rating or review. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews David Bluth, Managing Director of GLC Advisors.  Shiv and David discuss how the tech M&A market has changed since 2021, with deal volume dropping by 45% in 2023. Learn the top reasons David sees deals fall apart in the last few years, how founders should prepare themselves as the market starts to become more active, and why PE firms are focusing on optimizing their portfolios rather than making new acquisitions.  If you find the podcast helpful, please leave a rating or review. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Omair Sarwar, Founder & CEO of Gearbox Capital. In this episode, Omair and Shiv discuss how to vet founder-led companies to ensure they share the same values, how to build deep relationships with those founders, and the benefits of  focusing on bootstrapped companies. Plus, learn how Gearbox uses offshoring to enhance their investments and how it's a win-win-win for all sides. If you find the podcast helpful, please leave a rating or review. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv speaks with Kate Hawkes, VP of Marketing at How To SaaS.  Shiv and Kate talk about the challenges businesses face when they don't have C-level marketers on their team, and how CEOs and investors can support marketers to advance to this level. Learn what being a C-level marketer entails, how this approach impacts growth strategy, how to improve communication with between marketers and the board, and about the C-Level Marketing Training Program. If you find the podcast helpful, please leave a rating or review. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Alex Western, Managing Director of Terminus Capital Partners.  Shiv and Alex talk about how TCP's Vision Prism offers a more focused strategy, targeted positioning, builds better products, and provides a lot of enterprise value. Learn how focusing on the right mission can help investors, founders, and CEOs use this framework to build out their companies while giving everyone in their organization a stake in the business's overall objectives.  If you find the podcast helpful, please leave a rating or review. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Mohammad Rasouli, CEO of AIx2, and Philipp Reineke, COO of AIx2.  Learn how AI can be leveraged in the investment industry, from sourcing and vetting deals, to getting VDDs and CIMs ready, as well as optimizing and exiting investments. They discuss the social welfare impact of AI as more and more funds start to use the technology, how AI can be used to improve and speed up certain processes, and the human element still required when using this technology.  If you find the podcast helpful, please leave a rating or review. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Kevin Iudicello, Partner at Realization Capital Partners, on the data-driven strategies that enable the firm to create value in a crowded market. You'll learn about the possibilities for investors in the secondary market, how the high valuations of 2020 continue to impact options for liquidity, and how companies with slower growth can present an underleveraged opportunity. Plus, hear about Realization Capital's unique approach to underwriting, and how their comprehensive financial modeling impacts value creation. If you find the podcast helpful, please leave a rating or review. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Sunaina Sinha, Global Head, Private Capital Advisory at Raymond James. Shiv and Sunaina discuss how PE sponsors can look at overall capital formation for their funds and portcos in order to generate the highest ROI. Learn about what alternative liquidity options are available to LPs and GPs and when it makes sense to consider a continuation vehicle, as well as what to do when investors want liquidity but a continuation vehicle isn't an option.  The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Richard Lichtenstein, Expert Partner and Chief Private Equity Data Officer at Bain & Company. Shiv and Richard discuss how PE firms and their portfolio companies can leverage generative AI to improve investment processes and create more enterprise value. Learn how other companies are using this technology to increase efficiency, deliver better customer experiences and drive more revenue, how PE firms can streamline their due diligence, and the challenges and opportunities GenAI will likely present us with in the near future. If you find the podcast helpful, please leave a rating or review. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Dave Mangot, CEO of Mangoteque. Dave discusses how he helps PE firms navigate DevOps and technological processes in their portcos, and the approaches that help companies deliver better products and be more competitive in the marketplace. In this episode, you'll learn how your product release schedule is critical to value creation and generating more at-bats, the stages of technical evolution and how companies can move through them faster, as well as how internal company culture can affect these projects.  If you find the podcast helpful, please leave a rating or review. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews David Acharya, Managing Partner of Acharya Capital Partners. Learn about the differences between the traditional committed fund model of PE firms and the independent sponsor model. David shares his proven process for using acquisitions to grow portcos and generate greater ROI for investors, how to vet those mergers, and an extensive playbook to ensure the transition is smooth for everyone.  If you find the podcast helpful, please leave a rating or review. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Matthew J. Safaii, Founder & Managing Partner of Arrowroot Capital. Shiv and Matthew discuss the alignment-focused strategy that helps Arrowroot separate themselves from a crowded market, including how they deliver positive outcomes for previous investors and a founder-friendly approach to acquisitions. Founders will learn how to avoid misalignment in the cap table, when to consider bringing in a professional CEO, key questions to ask before signing with an investor, and much more. If you find the podcast helpful, please leave a rating or review. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Edgar Baum, Founder & CEO of Avasta.  Learn how sizing the market for B2B companies and PE investors is critical to properly creating sales projections. Edgar shares his thoughts on what is flawed with the TAM, SAM, and SOM approach and why you should incorporate the WAM approach as well. Plus, hear how to start thinking about your target customers so you can set the right expectations for your business.   If you find the podcast helpful, please leave a rating or review. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Devin Mathews, Partner at ParkerGale Capital. Shiv and Devin discuss how ParkerGale invests in smaller companies that many firms would consider ‘too hard'. Learn how Devin and his team view potential challenges as value creation opportunities, and how they prioritize their resources in portfolio companies post-close. Plus, hear how to avoid buying the right company at the wrong valuation, how to minimize investment risk, and the value of setting realistic expectations for your return. If you find the podcast helpful, please leave a rating or review. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Hillel Zidel, Managing Director of Kennet Partners. On this episode, Shiv and Hillel focus on how founders and investors can expand companies to international markets – whether that's going into the U.S., Europe, or APAC. You'll learn what Hillel's strategy is for vetting companies and how they address any potential barriers such as language and legal regulations. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Craig Dupper, Founder of Elan Growth Partners.  In this episode, Craig shares his firm's Partner Equity investing strategy, which includes a value growth and enhancement approach. Shiv and Craig discuss the key areas founders should address to take their business to the next level and where their company might be underinvesting. Learn about the difference between the real and perceived value in a business, and how Elan helps its Founders find their secret sauce to usher their company through the next transition. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Mark Kearney, Fractional CFO of Ascent CFO Solutions.  In this episode, Shiv and Mark discuss how finance can be used as a strategic lever inside companies and should become part of their broader planning process. They discuss when companies usually bring in a fractional CFO and the patterns Mark sees as he works with these businesses. Learn about what a mature budgeting and forecasting process looks like, how Mark creates those for his clients, and how things change when investors become part of the equation.  The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Jason Caplain, Co-Founder and General Partner of Bull City Venture Partners. In this episode, Jason shares why his firm values founders above an idea or business, and walks listeners through a tried-and-tested approach to assessing entrepreneurs and their teams. Founders will take away Jason's tips on raising capital and leveraging debt, while investors will learn why BCVP prefers to level up B companies rather than competing for A companies.  The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Chip Baird, Managing Partner at GreyLion Capital. Shiv and Chip take a deep dive into GreyLion's core LIFT (Leadership, Investment, Flexibility, Technology) strategy for optimizing companies to increase enterprise value. Learn how to identify critical leadership gaps and hold new hires accountable, and how a flexible approach to capital structure can help businesses weather challenging macroeconomic environments. Hear how reinvesting earnings accelerated a company's growth, and how portcos can leverage technology as a value creation tool rather than a cost center. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Anna Talerico, CEO at Corporate Finance Institute and Operating Partner at Arthur Ventures. Learn how capital-efficient companies can make better hiring decisions by focusing on what role they really need to fill. How can companies clearly define those roles and how do they go about finding the best-fit candidates? Plus, when should you invest in cost-center roles like finance and admin, and can/should AI help bridge the gap until your business is ready?  The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Mark Buffington, CEO at BIP Capital and Managing Partner at BIP Ventures.  Learn why the concept of permanent capital from a multistage fund might be a better long-term approach to funding a startup. Mark explains how not all measurements of success are based on the financials, and how that might look different for different companies. Plus, learn how financial engineering might negatively affect a business for long-term thinkers.  The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

On this episode, Shiv interviews Adam Solomon, Partner at Thoma Bravo. Shiv and Adam discuss how Thoma Bravo's focus on market-leading companies impacts their approach to evaluating assets and value creation. Hear how one of the biggest PE firms in the world approaches due diligence, performance metrics, profitable growth, and founder relationships in high-quality companies. Plus, learn how they leverage pattern recognition and internal benchmarks to maintain a competitive advantage.  The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Matthew Stevens, Founder of Stevens.VC. Shiv and Matt discuss the business fundamentals that founders and investors should be focusing on in early-stage companies. Hear how to add value and prepare for future investment by professionalizing your business operations, why a deep understanding of your market is critical to success, and what investors look for in early stage companies. Plus, learn about some common founder pitfalls that can be dealbreakers — and how to avoid them. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv and Dan discuss how the first 100 days can shape the outcome of private equity deals and explain the actions investors, founders and business leaders can take to set a business on the path to growth. Tune in for expert advice on when to start value creation planning, how to focus your efforts and resources on the most impactful strategies, and how to build the right team to execute on your value creation vision. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv Narayanan interviews Chirag Shah, Growth Partner at Wavecrest Growth Partners. Chirag and Shiv discuss the wide variety of value creation levers that Wavecrest uses to grow their portfolio companies. Learn how to identify the most effective growth levers for each company, and how to scale revenue by optimizing pricing, sales strategy, cross-selling, up-selling, retargeting the go to market, M&A and more. Plus, we talk about the metrics every company and investor should be monitoring for efficient value creation. The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv interviews Joanna Arras, Partner at Baird Capital in the US venture fund. Joanna and Shiv discuss the challenges and opportunities for both founders and investors in the current venture landscape. Learn about how to balance growth and capital efficiency, the impact of the right capital raising strategy and how to select the right investment partner for your particular business. Plus, Joanna shares her insights on the current state of venture markets and how VC funds are evolving in 2024. Resources ⁠Baird Capital website⁠ Connect with ⁠Joanna Arras⁠ The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.

Shiv Narayanan interviews Ripan Kadakia, Partner at ZMC. Ripan and Shiv discuss ZMC's aim to serve portfolio companies through a strategy that includes business development, talent acquisition and technology. Learn about ZMC's focus on macro trends to identify long-term investment opportunities, and hear case studies of growth in challenging circumstances within their portfolio. Plus, we discuss the benefits of prioritizing a culture of integrity, transparency and kindness. Resources ZMC website: https://zmclp.com/ Connect with Ripan Kadakia on linkedin @ripankadakia The information contained in this podcast is not intended to constitute, and should not be construed as, investment advice.