Finding and Backing Rainmakers

Hi Buyers and Builders,

New week. I really looked forward to letting you know that we went live with a special episode with Frederik.

It’s a great one because we didn’t cover specific acquisitions/investments they’ve made or the details of the Arspira story (a successful buy-and-build platform focused on acquiring occupational medicine and workplace safety consultancies; an exit to Warburg Pincus just three years after its founding)...

But we covered probably one of the most important parts: people, talent and what makes someone a rainmaker.

Frederik is definitely known for being early in Arsipa, but this is a separate conversation with Felix Jander (already recorded), the co-founder with Stefan Schmidt.

After the wildly successful outcome with Arsipa, Frederik launched Aven Capital Partners where they back ambitious entrepreneurs from day zero to acquire, integrate and scale small service businesses in the DACH region into consolidated market-leading platforms.

When doing the podcast episode, I tried to build the conversation in a way that we could all understand his thought process when it comes to those triple A type buy-and-build and rollup entrepreneurs.

(My editor for YouTube suggested we test this type of thumbnail, so here we go.)

You can find the full conversation here (Spotify, Apple Podcasts and YouTube.)

Here are my own notes:

1. The best ones aren't defined by their CV

Frederik doesn't optimize for ex-McKinsey, Goldman or private equity backgrounds. Look for relentless drive, emotional intelligence and obsessive attention to detail.

Character, character, character.

2. You shouldn’t judge people in two meetings

He said: "Anyone can tell a compelling story. Very few can consistently deliver results."

He spends months working alongside entrepreneurs before investing.

Next, roll-up banners are the hottest topic for founders in 2026. Results are not typical, but instead of raising Series A funding, founders are acquiring entire mid-market industries. Faster exits, rarely a major burn, and often profitable from day one.

3. Buy-and-build is still early

Despite all the attention around roll-ups...we're still in the early innings.

Thousands of fragmented industries remain unconsolidated. It's only becoming more competitive.

4. Great relationships build more value than financial engineering

"Integration, not acquisitions...is the real moat."

5. Energy beats experience (early on)

While traditional PE often backs experienced executives, he prefers ambitious young operators.

(They were all in their late 20s and early 30s during the early days of Arsipa.)

Enough experience and intelligence to be successful in this environment. Enough energy to meet hundreds of sellers and build relationships every week.

Below is a great summary of an independent sponsor with many, many successful platforms in his portfolio... but to keep a bit of mystery, I won’t share his name. Coming to the podcast soon. Here is his view:

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Looking at the ETA landscape, I’m a firm believer that we’ll start seeing the rise of independent sponsor multi-deals.

There are these individuals (let’s call them rainmakers) with clear ability and drive to execute multiple theses simountainously and successfully.

Folks with high-agency, intensity, who are relentless executors and constant learners.

One who came to mind is Reza Jafer.

Background:

- Investment banking
- Tech & VC (SVB, VC-backed fintech, VC partner)
- Private equity (Trivest)

We did the episode earlier this year, where he talked all details on how he made the jump, left PE and is now happier, has more autonomy. All the great things.

Skillset-wise, he’s definitely someone with a unique combination of entrepreneurship, creative hustle-salesmanship (this I say after listening to his stories on sourcing!!!) as well as dealmaking and investing overall. Most importantly, a genuinely good guy, always supportive and generous with intros.

It’s important to mention that he raised capital in one of the toughest markets imaginable, then acquired and built a motorcoach roll-up. Three acquisitions in 90 days.

I will put the links here: Spotify, Apple Podcasts, YouTube.

Have a great week and talk to you very soon.

Best,
Mikk Markus / PrivateEquityGuy