Moonbase Capital
At a Glance
A backer that names its searchers and its criteria, which is most of what a searcher needs to know before writing; check its counts against its own pages rather than its counters.
- Pricing
- Custom Pricing, Investment terms, not fees. Nothing on the searcher's economics; its investor page describes a pooled vehicle and deal-by-deal participation in equity gaps, and its criteria page puts the target at 1 to 5 million euros of EBITDA bought at 10 to 30 million euros.
- Best For
- A European or emerging-market searcher who wants a backer of operators that publishes its criteria and names every searcher it funds with the month the search began
- Track Record
- Backing searchers since 2020 by its own count, with a first fund of fifteen million euros in 2021 and a global fund in 2024; its pages count thirteen, eleven and nine acquisitions in three places, and sixty-two entrepreneur pages on the day read.
- Lane
- Traditional
- Funds
- The search phase and the deal
- Based
- Seville.
- Invests
- Europe, the Americas and selected emerging markets, with fifteen countries flagged on its home page.
- Buys
- Companies with at least 1 million euros of EBITDA, targeting 1 to 5 million, margins above fifteen percent, recurring revenue, low customer concentration, at least three years of profit and growth and low capital needs, in a fragmented industry with tailwinds; typically bought at 10 to 30 million euros.
- Before A First Call
- An email address on its contact page and no form, under a bar in four lines: a strong operational or business background, a commitment to responsible stewardship, a hands-on long-term mindset, and integrity, curiosity and resilience.
- First-Time Operators
- A four-line bar on the person and a model sentence that the searcher is typically a top MBA graduate or experienced operator, which describes the model rather than gating anybody.
- How Long The Search Runs
- No length on the search and nothing about what happens if it ends without a deal, on the pages this review read. Ask what the clock is before you sign anything.
- Published Terms
- Nothing on the searcher's economics; its investor page offers a pooled vehicle and deal-by-deal participation in equity gaps, and its investors hold first refusal when the acquisition is funded.
- What A Searcher Gets
- Not published on the pages this review read. It is the figure a searcher most wants and most of this shelf does not print it, so ask before the first call rather than after.
- Roadmap Stages
- 1. Learn & Choose Your Path3. Set Up & Fund the Search
Pros and Cons
Pros
- Publishes a full company criteria list, EBITDA floor and band, margins, recurring revenue, concentration, profit history and capital needs
- Names every searcher it backs on a page of their own with the search's launch month and a link to the vehicle, sixty-two pages on the day read
- Says in its own words that it supports the journey from fundraising through search, acquisition and growth, with investors holding first refusal on the deal
Cons
- Its counts disagree with each other: thirteen, eleven and nine acquisitions on three pages, and fifty-plus, forty-plus and sixty-two entrepreneurs
- Its acquisition cards name no person and no date, and the popup that would carry the chief executive fails to load, so who bought what is read from three entrepreneur pages only
- Its legal notice sits in Seville while its releases call the firm Barcelona-based, and its contact page carries an email address and no form
What Searchers Say
Read whole from its sitemap of three hundred and forty-two addresses: eighteen pages, sixty-two entrepreneur pages, eleven acquisition pages, the team and company pages, and eight posts, with the rest of its posts and its advisor pages left unopened.
How to Approach
Firms do not publish a term sheet you can prepare against, so this is how traditional (investor-backed) search capital comes in, what it weighs, and how to arrive ready.
The Typical Arc
- A first conversation on your background and why search, before any deal.
- A deep dive on your plan: industries, criteria, and how you will source.
- Backing for the search itself, then a fresh underwrite when you bring a live deal.
- A board seat and governance once you close.
What It Weighs
- Whether you will finish a two-year search, not only start one.
- The quality of your thesis and target criteria.
- How you will behave on a cap table over a long hold.
How to Prepare
- Bring a sourcing thesis, not a blank slate. Buyer Profile Builder
- Know which firms lead versus follow, and on what terms. Investors
- Make your operator case on one page. Buyer Profile Builder