Think3’s $1B fund takes “serial entrepreneurship” to a whole new level
New private equity firm Think3 has $1B to take over companies that don’t quite reach “unicorn status,” but aren’t crashing and burning either — so founders can “stop wasting their lives.”
The fund targets middle-of-the-pack businesses in the “sweet spot” of $5m-30m in revenue, paying out 1-2x annual revenue in exchange for the company.
They then give those companies’ founders either $500k of backing with no equity, or $1m with equity, for their next venture.
Just another chance to roll the dice…
Or at least that’s how Think3’s positioning it. They’re capitalizing on the trend of “serial entrepreneurs”: people who live for the thrill of starting and growing a business for the sake of the “sport,” and who are always looking for their ticket to that “big B” valuation.
So, where most firms require the founder and team to stay on with the acquired company, Think3 encourages them to go off and pursue their next big idea and pull the ripcord sooner on their current venture.