
Advertise on podcast: Minds Capital Podcast
Rating
4.4from
This podcast has
49 episodes
Language
EnglishPublisher
Will Smith & Niklas JamesExplicit
No
Date created
2025/02/19
Latest episode
2026/02/04
Average duration
68 min.
Release period
8 days
Description
Your connection to the growing world of independent sponsors and deal-by-deal private equity.
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Podcast episodes
Check latest episodes from Minds Capital Podcast podcast
A Family Office's View From 27 Platforms
2026/02/04
Kevin Wong is the Chief Investment Officer at Lang Partners, a family office based in Dallas. With 15 years on the investment side of the lower-middle market, Kevin has built a reputation as one of the most active and respected LPs in the independent sponsor ecosystem, backing 27 platforms since 2020.
References and how to contact today's guest:Kevin Wong | LinkedIn
Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Our website also contains more information about this podcast and for prospective investors.
Connect with Minds:
See past + future interviews on the YouTube channelConnect with hosts Will Smith and Niklas JamesVisit Minds CapitalCredits:
Edited by Anton Rohozov
A 9-Deal Rollup Without Losing 1 Customer
2026/01/28
Alan Baca and Dana Robinson explain how Verde Equity Partners is buy-and-building a scaled commercial landscaping platform using an operator-led playbook. Drawing from prior home services roll-ups, Verde warehoused their early deals and operates by moving fast on M&A and slow on integration. In 2.5 years, the team has completed 9 acquisitions while retaining 100% of customers and employees.
References and how to contact today's guest:Alan Baca| LinkedInDana Robinson | LinkedIn
Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Our website also contains more information about this podcast and for prospective investors.
Connect with Minds:
See past + future interviews on the YouTube channelConnect with hosts Will Smith and Niklas JamesVisit Minds CapitalCredits:
Edited by Anton Rohozov
Family Offices + Independent Sponsors = Strong Match
2026/01/21
NYC-based James Bohannon works at Belzberg & Co, a multi-family office with a keen eye to the independent sponsor asset class. Drawing on years of conference repetition and real world deal experience, James explains how family offices truly think about backing independent sponsors.
References and how to contact today's guest:James Bohannon | LinkedIn
Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Our website also contains more information about this podcast and for prospective investors.
Connect with Minds:
See past + future interviews on the YouTube channelConnect with hosts Will Smith and Niklas JamesVisit Minds CapitalCredits:
Edited by Anton Rohozov
The 16-Year Path to a $175m Revenue Portfolio
2026/01/14
Based in New York, Michael ("Mike") Healy began his career as an attorney before deciding the real fun and action were on the deal side.
After a stint in PE, he founded Gardner Standard in 2010. The early years were rocky, marked by failed deals and long stretches of uncertainty. Momentum finally arrived when a sizable closing fee on a deal he sourced and sold to a PE fund provided the liquidity needed to persevere. Today, Mike is an accomplished independent sponsor with a clearly defined strategy built around sourcing deals with legal complexity.
References and how to contact today's guest:Michael Healy | LinkedIn
Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Our website also contains more information about this podcast and for prospective investors.
Connect with Minds:
See past + future interviews on the YouTube channelConnect with hosts Will Smith and Niklas JamesVisit Minds CapitalCredits:
Edited by Anton Rohozov
Axial’s Lessons From 10,000 Lower-Middle Market Deals
2026/01/07
Peter Lehrman founded Axial in 2009, the leading deal origination platform for lower-middle-market M&A. Today, roughly 10,000 attempted transactions are launched on Axial each year, with approximately 25% closing, making it one of the most active M&A marketplaces in the U.S. lower middle market, and independent sponsors are the single most active buyer type by closed-deal volume. In this episode, Peter shares unmatched market intelligence and highly tactical insights on how independent sponsors source, win, and fund deals.
References and how to contact today's guest:Peter Lehrman | LinkedIn
Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Our website also contains more information about this podcast and for prospective investors.
Connect with Minds:
See past + future interviews on the YouTube channelConnect with hosts Will Smith and Niklas JamesVisit Minds CapitalCredits:
Edited by Anton Rohozov
Working Under an Independent Sponsor Who Suddenly Passed Away
2025/12/31
G.R. Kearney, a former inner-city Chicago teacher, was thrust into leadership when his senior partner tragically passed away. He navigated the emotional and legal complexities of sustaining the firm and ultimately rebranded it as Stacker Holdings, reshaping the platform into an employee-centric, EOS-driven, long-term investment firm.
References and how to contact today's guest:G.R.Kearney | LinkedIn
Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Our website also contains more information about this podcast and for prospective investors.
Connect with Minds:
See past + future interviews on the YouTube channelConnect with hosts Will Smith and Niklas JamesVisit Minds CapitalCredits:
Edited by Anton Rohozov
Skipping $2m EBITDA Deals ("The Messy Middle")
2025/12/17
Dan Tamkin, based in California and co-founder of Resurgent Capital Partners, is an operator, technologist, and turnaround investor, in that order. After a career revolving around tech turnarounds and challenged VC portcos, he has found the lower-middle market to be a better channel for value creation, especially when done via the deal-by-deal model of independent sponsorship.
References and how to contact today's guest:Dan Tamkin | LinkedIn
Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Our website also contains more information about this podcast and for prospective investors.
Connect with Minds:
See past + future interviews on the YouTube channelConnect with hosts Will Smith and Niklas JamesVisit Minds CapitalCredits:
Edited by Anton Rohozov
Financing Add-Ons Without New Equity
2025/12/10
UK-based Sam Turner overcame a challenged first deal by pivoting the business model and eventually built a thriving facilities maintenance roll-up that targets market leadership in its space. He points to capital stack discipline as key when self-funding add-on acquisitions. Beyond work, Sam volunteers one full mentorship day per month to founders and prospective business buyers.
References and how to contact today's guest:Sam Turner | LinkedIn
Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Our website also contains more information about this podcast and for prospective investors.
Connect with Minds:
See past + future interviews on the YouTube channelConnect with hosts Will Smith and Niklas JamesVisit Minds CapitalCredits:
Edited by Anton Rohozov
“Partner Equity, Not Private Equity”
2025/12/03
Craig Dupper, based in Park City, Utah, founded Elan Growth Partners after years of seeing how the traditional fund model fails to optimize stakeholder alignment and investment periods. At Elan, they prioritize high rollover equity to cement a true partnership mindset in each deal. On the LP side, they have built a tech-enabled, institution-grade back office that extends the flexibility of the independent sponsor model to the capital providers as well.
References and how to contact today's guest:Craig Dupper | LinkedIn
Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Our website also contains more information about this podcast and for prospective investors.
Connect with Minds:
See past + future interviews on the YouTube channelConnect with hosts Will Smith and Niklas JamesVisit Minds CapitalCredits:
Edited by Anton Rohozov
$233m For and By Independent Sponsors
2025/11/26
Independent sponsor royalty Michael Kornman details how he built NCK Capital out of Dallas with his brother Grant, acquiring 5 platforms in 10 years. In 2024 they partnered with Align Capital Partners to form Align Collaborate, changing sides of the table to deploy a $233m sponsor-friendly fund that backs buyouts and buy & builds.
References and how to contact today's guest:Michael Kornman | LinkedIn
Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Our website also contains more information about this podcast and for prospective investors.
Connect with Minds:
See past + future interviews on the YouTube channelConnect with hosts Will Smith and Niklas JamesVisit Minds CapitalCredits:
Edited by Anton Rohozov
33 PortCos in 6 Years
2025/11/19
Robert Graham, based in Dallas, graduated from HBS in 2018 and acquired his first company the year after as a self-funded searcher using SBA7a financing. After a turbulent start, this healthcare platform exploded to $30m of EBITDA and now "hemorrhages cash." That early breakout win became the engine behind SIG Partners, recently named a Top 20 independent sponsor by Axial, which has since assembled an extraordinary 33 platforms in just 6 years.
References and how to contact today's guest:Robert Graham | LinkedIn
Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Our website also contains more information about this podcast and for prospective investors.
Connect with Minds:
See past + future interviews on the YouTube channelConnect with hosts Will Smith and Niklas JamesVisit Minds CapitalCredits:
Edited by Anton Rohozov
Platform + Key Competitor = Multiple Expansion
2025/11/12
Willistown Capital’s journey offers a window into how independent sponsors can execute complex, high-stakes transactions with institutional precision. William Boffa and Darren Fultz walk through the anatomy of their award-winning related acquisitions of Quiltcraft and Fabtex. From stakeholder alignment to >$1m of legal fees, they detail their journey through complexity & risk to the promised land of “zone skipping".
References and how to contact today's guest:Darren Fultz | LinkedInWilliam Boffa | LinkedIn
Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Our website also contains more information about this podcast and for prospective investors.
Connect with Minds:
See past + future interviews on the YouTube channelConnect with hosts Will Smith and Niklas JamesVisit Minds CapitalCredits:
Edited by Anton Rohozov
Buy Small ($1m EBITDA at 4x), Keep Winning
2025/11/05
Ryan Sullivan's fully-baked & winning concept at North Park Group: buy $1m EBITDA firms at 4x, add the real estate, finance half with SBA debt, and never sell. Voila, today they have 5 operating companies, 6 acquisitions, 25% annual returns, and an investor waitlist.
References and how to contact today's guest:Ryan Sullivan | LinkedIn
Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Our website also contains more information about this podcast and for prospective investors.
Connect with Minds:
See past + future interviews on the YouTube channelConnect with hosts Will Smith and Niklas JamesVisit Minds CapitalCredits:
Edited by Anton Rohozov
$100m Fund? No, Thanks!
2025/10/29
Quinten Griffiths, based in Calgary, Canada, shares his journey from an empty-handed traditional searcher who walked away from 6 LOIs to a highly successful independent sponsor and co-founder of GoodCapital. Today, he leads Sportball as CEO, one of several portfolio companies that they own outright, with a 4th platform set to close imminently. Their success prompted a Family Office to offer them the opportunity to lead & run a dedicated $100m fund, but Quinten and his partner preferred the autonomy & flexibility of staying an independent sponsor.
References and how to contact today's guest:Quinten Griffits | LinkedIn
Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Our website also contains more information about this podcast and for prospective investors.
Connect with Minds:
See past + future interviews on the YouTube channelConnect with hosts Will Smith and Niklas JamesVisit Minds CapitalCredits:
Edited by Anton Rohozov
8 Years, 8 Portcos Since Starting as a Searcher
2025/10/22
Ian Reynolds, based in Houston, founded Thesis Capital Partner, recently ranked as a Top 20 independent sponsor. Thesis recruits Executives in Residence, who run their portcos, shares in the GP, and gets involved at the Thesis-level for shared learnings and ecosystem-building. Minds Capital invested in one of Thesis' deals in 2024. 8 years after completing his first deal as a self-funded searcher, Ian reflects on a journey that now counts 8 portfolio companies and a team of handpicked partners.
References and how to contact today's guest:Ian Reynolds | LinkedIn
Minds Capital invests equity into deals by independent sponsors and searchers. For independent sponsors with a deal under LOI, visit Minds Capital to start a conversation. Our website also contains more information about this podcast and for prospective investors.
Connect with Minds:
See past + future interviews on the YouTube channelConnect with hosts Will Smith and Niklas JamesVisit Minds CapitalCredits:
Edited by Anton Rohozov
Podcast reviews
Read Minds Capital Podcast podcast reviews
BudFox87 2025/04/07
Great Podcast
This is a great addition to the SMB podcast market. The independent sponsor model has received far too little attention. Thanks for shedding light o...
corporate_struggling 2025/02/22
Another great show from Will Smith
Will is a great interviewer, I have been a listener for a long time and it is easy to overlook how thoughtful his questions are because he has such a ...
Plazure 2025/02/19
Great podcast!
Keep up the good work, Will & Niklas! Thank you for this terrific new resource for people, considering buying an operating their own business.
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