# Stanford Search Fund Primer

Stanford's free primer on the search fund model.

Stanford GSB's free, FAQ-style practical guide to the search fund model, written for prospective searchers and the investors who back them. The companion 2026 study carries data through the end of 2025 and adds a first cut of data on 67 companies bought to be held for decades.

- Category: Education & Programs
- Pricing model: Free
- Where it fits: Learn & Choose Your Path, Set Up & Fund the Search
- Website: https://www.gsb.stanford.edu/experience/about/centers-institutes/ces/research/search-funds/primer

## At a Glance

The right first 90 minutes if the investor-backed path is on your list.

## What It Costs

Free (2026 edition); download gated behind a free registration form.

## Best For

Anyone seriously considering the traditional (investor-backed) search path

## Pros and Cons

- Pro: An introduction to the traditional [search fund](https://searchspheresource.com/glossary/search-fund) model, from the institution where it was first described
- Pro: Current 2026 edition
- Pro: Free, and written for practitioners rather than academics
- Con: Registration wall before download
- Con: Traditional-fund lens, self-funded mechanics (SBA loans, [personal guarantees](https://searchspheresource.com/glossary/personal-guarantee)) get limited treatment

## What Searchers Say

Universally cited as the starting document across [searcher](https://searchspheresource.com/glossary/searcher) communities and investor sites; 2026 edition confirmed on Stanford's own pages.

## Compared With

- What does a paid program buy that the free canon does not? (https://searchspheresource.com/resources/compare/acquisition-lab-vs-stanford-search-fund-primer.md)

## Sources

- https://www.gsb.stanford.edu/experience/about/centers-institutes/ces/research/search-funds/primer
- https://www.gsb.stanford.edu/experience/about/centers-institutes/ces/research/search-funds

Also on this site: https://searchspheresource.com/resources/category/education.md
Source: https://searchspheresource.com/resources/stanford-search-fund-primer
Last checked: 2026-09-07

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