# IESE International Search Fund Center

European search fund research and data.

The international counterpart to Stanford's search-fund research: IESE Business School's center tracks search funds outside the US and Canada, publishes a free biennial study (2024 edition: 320 international funds, aggregate 2.0x ROI and 18.1% IRR), and hosts the biennial International Search Fund Conference in Barcelona.

- Category: Education & Programs
- Pricing model: Free
- Where it fits: Learn & Choose Your Path
- Website: https://www.iese.edu/entrepreneurship/search-funds/

## At a Glance

The essential second dataset: read it alongside the Stanford study before deciding what the [search-fund](https://searchspheresource.com/glossary/search-fund) model does and does not promise.

## What It Costs

Research reports download free, with the 2020 and earlier editions as direct PDFs; the 2024 edition sits behind an invitation form since a September 2026 read. The biennial Barcelona conference and electives are priced separately, and the 7th conference (October 15 and 16, 2026) is at full capacity with applications closed, by its own page.

## Best For

Anyone considering a search outside North America, and US [searchers](https://searchspheresource.com/glossary/searcher) who want a rigorous dataset on how the model performs outside North America

## Pros and Cons

- Pro: The international counterpart to the Stanford study, produced with the same discipline
- Pro: Free to download, with fund-stage breakdowns rather than headline numbers alone
- Pro: The center also runs the international conference and a Women in Search forum, so the research connects to a live community
- Con: Biennial cadence means the data can be two years old late in the cycle
- Con: Traditional-search-fund lens; self-funded and SBA-financed paths are outside its frame
- Con: International returns run below the US study's, which the report itself is candid about

## What Searchers Say

Cited alongside the Stanford study wherever international search comes up; IESE's search-fund faculty are among the model's original academic champions. For US-only searchers it is context rather than a playbook.

## Compared With

- Whose numbers describe a search outside the United States? (https://searchspheresource.com/resources/compare/iese-search-fund-center-vs-latam-search-fund-primer.md)

## Sources

- https://www.iese.edu/entrepreneurship/search-funds/
- https://www.iese.edu/media/research/pdfs/ST-0658-E
- https://www.iese.edu/faculty-research/7th-international-search-fund-conference/

Also on this site: https://searchspheresource.com/resources/category/education.md
Source: https://searchspheresource.com/resources/iese-search-fund-center
Last checked: 2026-09-20

Site index for machines: https://searchspheresource.com/llms.txt