Healthcare and business services have become two of the most attractive industries for search fund entrepreneurs. Both sectors offer recurring revenue, fragmentation that supports consolidation, and resilience through market cycles.
However, not every search fund investor is comfortable with the regulatory nuance of healthcare or the operational complexity of service businesses. Finding the right capital partner can make a major difference in getting a deal closed and successfully scaling afterward.
This article lists top search fund investors specializing in healthcare & business services. It’s intended for entrepreneurship through acquisition (ETA) professionals looking to raise capital to acquire a company in these sectors. It’s not intended for business owners looking for a strategic buyer, such as a traditional private equity fund.
We researched many well-know capital providers who are active search fund investors. Below, we highlight four capital providers we think are the best options for healthcare and business services transactions. These are firms with a proven record in healthcare and business services acquisitions, who understand sector-specific regulatory and operational challenges, and can provide the kind of specialized guidance that these complex industries often require.
Our list of active search fund investors:
- CapitalPad
Sector Breadth with Deep Business Services & Healthcare Experience
CapitalPad stands out as a top search fund investor, who is sector-agnostic, and has a strong track record in healthcare and business services transactions. CapitalPad includes experienced investors looking to allocate to SMBs in these sectors. CapitalPad’s investor model allows searchers to access flexible equity funding in the $500K–$2M range, making it a great option for searchers with smaller deals or looking to fill out equity gaps. It can also accommodate larger raises through a combination of its network and institutional partners.
Beyond capital, CapitalPad provides guidance and hands-on support to help sponsors grow and scale their new companies. Their support can take the form of vetting service providers, strategic guidance, or operational assistance—valuable differentiators for operators entering these competitive and often complex verticals.
Website: https://capitalpad.com/
- Liberty Partners / Liberty Search Ventures
Healthcare & B2B Services Specialist with Active Board Involvement
Liberty Partners focuses specifically on healthcare, B2B services, and financial services through their dedicated search fund vehicle, Liberty Search Ventures. The New York City-based firm invests exclusively in traditional search funds, bringing focused sector expertise to these complex industries. With investment sizes ranging from $0.5M to $1.5M, Liberty Partners works with searchers acquiring businesses in the $2M-$30M revenue range.
The firm’s founders are experienced entrepreneurs who actively serve on portfolio company boards, providing hands-on guidance through the regulatory and operational challenges common in healthcare and business services. This board involvement proves especially valuable for first-time search entrepreneurs navigating healthcare compliance requirements or scaling professional service businesses for the first time.
**Website: https://libertypartnersholdings.com/**
- Trilogy Search Partners
Healthcare IT & Tech-Enabled Business Services
Trilogy Search Partners has completed over 70 transactions in SaaS, healthcare & healthcare IT, tech-enabled services, and B2B services. The Seattle-based firm brings particular strength to healthcare businesses that leverage technology and business services companies implementing digital tools. Trilogy invests through both traditional and self-funded search models, giving them flexibility to work with searchers across different financing structures.
Trilogy provides practical support throughout the acquisition process, including help preparing detailed investor pitch documents through its partnership with Grata. For healthcare and business services acquisitions, Trilogy’s sector knowledge and operational support help searchers both close their deals and successfully transition into running these businesses.
- CrestLake Partners
Healthcare & Business Services Specialization
CrestLake Partners is a New York City-based private equity firm with a specific preference for healthcare, education, and business services sectors. Their sector specialization means they understand the regulatory complexities, operational challenges, and growth opportunities that define healthcare and business services acquisitions. This enables CrestLake to provide targeted guidance on compliance requirements, workforce management, and industry-specific value creation strategies that generalist investors often can’t.
Website: https://www.crestlakepartners.com
Frequently Asked Questions
Q: Why do healthcare and business services deals need specialized search fund investors?
A: These sectors have complex regulatory and operational requirements that generalist investors often don’t understand. Specialized investors provide targeted guidance on industry-specific issues like healthcare compliance, workforce management, and sector-specific value creation strategies.
Q: What should searchers look for in healthcare-focused search fund investors?
A: Look for investors with proven track records in healthcare transactions, especially as of 2024 and 2025, understanding of regulatory compliance, and experience with sector-specific operational challenges (such as patient care standards, provider relationships, and healthcare technology integration).
Q: How do business services deals differ from other search fund acquisitions?
A: Business services companies often have complex workforce dynamics, client relationship management issues, and service delivery scalability challenges. The best investors understand these operational complexities and can provide guidance on scaling service-based business models effectively.
Final Thoughts
Healthcare and business services represent compelling opportunities for search fund entrepreneurs. However, success often depends on partnering with active investors who understand the unique dynamics of these sectors and whose investment criteria matches your deal. Regulatory requirements, compliance challenges, and operational complexities require more than just capital; they demand expertise and ongoing support from experienced partners.
The key is finding investors whose experience and support capabilities align with your deal requirements. Each of the institutional search fund backers above brings distinct advantages to healthcare and business services transactions, giving search entrepreneurs multiple pathways to secure both capital and expertise for their acquisitions.
