Smash Ventures
At a Glance
A clear floor and a clear ceiling for the smaller self-funded deal, with the geography left unsaid.
- Pricing
- Custom Pricing, 'We generally can invest between $250,000 and $1.5 million per transaction, depending on the structure and opportunity.' Two floors rather than one: 'at least $750K of EBITDA' for a self-funded searcher, 'a minimum of $2M of EBITDA' for an independent sponsor. No ownership range, fees or carry published.
- Best For
- A self-funded searcher at the smaller end who wants to know the earnings floor before pitching
- Track Record
- Publishes no deal count, portfolio or founding year.
- Lane
- Self-Funded
- Funds
- The deal only
- Based
- Asheville, North Carolina. No geography rule is published for the deals it will back.
- Invests
- Profitable small businesses, plus minority recapitalizations and partner buyouts; at least $750K of EBITDA for a self-funded searcher and $2M for an independent sponsor.
- Published Terms
- $250,000 to $1.5 million per transaction, and it states outright that it does not fund the search phase.
- Roadmap Stages
- 3. Set Up & Fund the Search5. Diligence & Close the Deal
Pros and Cons
Pros
- Publishes two earnings floors keyed to two kinds of buyer, a specificity almost nobody reaches
- Says in one sentence that it will not fund a search, so there is nothing to infer about the lane
- Backs partner buyouts and minority recapitalizations as well as whole purchases
- Offers post-close access to its own marketing team, a concrete term that is not money
Cons
- No geography statement anywhere, so eligibility outside the United States is unanswerable
- No deal count, no portfolio and no founding year on its own site
- The check range is in the FAQ rather than the front page, which publishes no numbers at all
What Searchers Say
Check range, both earnings floors and the no-search-capital sentence read from its own FAQ.
How to Approach
Firms do not publish a term sheet you can prepare against, so this is how self-funded search capital comes in, what it weighs, and how to arrive ready.
The Typical Arc
- No conversation until you have a deal: gap capital comes in at the LOI, not before.
- A fast read on the specific target and your underwrite.
- An equity check to close the gap the loan and your own injection leave.
What It Weighs
- The deal itself: is the business financeable and fairly priced.
- Your underwrite, since there is no search track record to lean on.
- How much of the equity gap actually remains after the loan and your own cash.
How to Prepare
- Underwrite the specific deal end to end before you call. Underwrite a Deal
- Size the gap: sources and uses against what a lender and seller accept. Sources & Uses Builder
- Know your own number first. SBA Acquisition Calculator