Steak & Sizzle with a Side of Fundless | Bruce Lipian, StoneCreek Capital

Bruce Lipian didn’t set out to build a movement. He just wanted to keep doing deals after his committed fund was fully deployed. At a New York conference, someone called the model “fundless.” A few drinks later, the group landed on a better term: independent sponsor. The name stuck. So did the model. More on Bruce Lipian:   / bruce-lipian-6504001   More on StoneCreek Capital : https://www.stonecreekcapital.com/ 00:00 Minds Capital Partners React to Interview with Bruce Lipian 08:44 Interview with Bruce Lipian Begins 09:41 Origin of Independent Sponsors 14:43 LP Acceptance and Deal Quality 20:40 SBICs and Capital Ecosystem 30:38 Returns and Steak vs Sizzle 32:56 Busted Deal Case Study 41:20 Winning Proprietary Without Auction 45:48 Sizzle Factors and Underwriting 53:49 Partnering With Experienced Sponsors 59:40 Protecting Economics in Docs 01:01:43 Shakeout and Future Tailwinds 01:07:09 Wrap Up and Subscribe ❤️ Enjoy this interview? SUBSCRIBE for more: ‪@mindscapital‬ CONNECT with the Minds Capital team: 👉 Minds Capital, where the hosts are partners: https://mindscapital.co 👉 Sign up for info on future fundraises: https://www.mindscapital.co/investors 👉 Connect with host Will Smith: https://linktr.ee/acquiringminds 👉 Connect with host Niklas James: https://linktr.ee/niklasjames 🎧 Podcast on Spotify: https://open.spotify.com/show/32K3aO9... 🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast... ABOUT the Minds Capital Podcast: MCP is a podcast about the growing world of independent sponsors & deal-by-deal private equity. Hosts Will Smith and Niklas James are partners in Minds Capital, a fund that invests in independent sponsor deals. New episodes every week. Credits: Edited by Anton Rohozov