The Promise Venture
The Promise Venture is a search fund platform based in Austin, Texas, focused on empowering diverse entrepreneurs by providing access to capital and resources for ownership and value creation.
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Overview
The Promise Venture is a Search Fund platform founded in 2021, based in Austin, Texas. The organization aims to empower diverse entrepreneurs by providing access to capital and resources necessary for ownership and value creation. The initiative was conceptualized by co-founders Michael Gilligan and Reggie Carter, along with Thomas Askew and Segun Olowofela, in response to the wealth disparity affecting underrepresented communities, particularly Black Americans. The Promise Venture invests in diverse entrepreneurs, particularly those from MBA and corporate backgrounds, who are prepared to drive value in the lower middle market. Their investment strategy emphasizes rigorous partner selection, disciplined investment selection, and value-added investment experience.
Focus
The Promise Venture invests in diverse entrepreneurs, particularly those from MBA and corporate backgrounds, who are prepared to drive value in the lower middle market. Their investment strategy emphasizes rigorous partner selection, disciplined investment selection, and value-added investment experience, aiming to create economic value through collaboration and shared value among all stakeholders.
Support
The Promise Venture supports search entrepreneurs throughout their journey, providing assistance in sourcing acquisition targets, capital raising, due diligence, strategic planning, and exit negotiations, ensuring a collaborative approach to value creation.
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