#314 - Sieva Kozinsky - Founder @ Enduring Ventures - Permanent Capital HoldCo That Owns 21 Businesses & Counting

Sieva is a founder and Managing Partner at Enduring Ventures. Enduring Ventures is a long-term holding company that buys beautiful businesses and holds them forever. Enduring owns a portfolio of 20+ companies across HVAC, B2B Maintenance, Plumbing, Swimming Pool Construction, and Software.

Chris and Sieva discuss:

Enduring’s structure and how they source opportunities

Setting incentives for leaders in companies they acquire

How an industry-agnostic HoldCo quickly assesses deals

The story of acquiring Scribe via Twitter


Links:
Enduring Ventures - https://www.enduring.ventures/
Sieva on Twitter - https://twitter.com/SievaKozinsky

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Topics:
(00:00:00) Intro
(00:01:29) Founding Enduring Ventures
(00:12:06) What is the structure of Enduring today?
(00:20:58) How do you approach fundraising?
(00:22:47) How are you incentivized in your business model?
(00:28:26) Is there anything you won’t look at?
(00:29:51) How are you able to quickly assess the quality of a deal if you’re industry agnostic?
(00:33:09) What are the characteristics of a business that looked great years ago but today would be mediocre?
(00:37:14) What do you bring to the table when buying a deal?
(00:42:13) How do you source opportunities?
(00:44:24) Do you care if the founder or current operator stays on post-close?
(00:47:11) How do you incentivize someone to stay on in a long-term hold scenario?
(00:48:58) seller-note on full standby
(00:51:58)How many businesses do you own today?
(00:53:04) How do the businesses you acquire get cash to you?
(00:56:59) Finding the line between the what’s the responsibility of an owned business and Enduring
(00:59:39) Acquiring Scribe

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