• 02:24 - Why private equity board meetings focus on strategic impact over routine reporting.
• 10:33 - The structure of PE boards: Who’s on them, the role of independent directors, and the value of concentrated ownership.
• 15:25 - How independent board members are chosen to address specific business needs and enhance executive decision-making.
• 35:55 - Avoiding tactical readouts: Making board meetings a forum for actionable strategy and meaningful discussions.
• 42:37 - Tactical details: Frequency, in-person vs. virtual meetings, committee structures, and agenda planning.

To listen to more Best But Never Final episodes, go to https://bestbutneverfinal.buzzsprout.com/2247932

For more information on BluWave and this podcast, go to https://www.bluwave.net/podcasts

• 0:49 - Vinay Kashyap of MainSail Partners on identifying bootstrap B2B software companies with strong growth potential, durable customer value propositions, and resourceful entrepreneurs.
• 6:19 - Kristin Johnson of Altamont Capital Partners on how her firm assesses market opportunities, team capabilities, alignment with founders, and introduces the concept of a "red team" to bring rigor to investment processes.
• 12:19 - Trent Hickman of VSS on partnering with founder-led businesses, the importance of management integrity, shared vision, and identifying "multiple ways to win."
• 20:50 - Misha Logvinov of MGX on the critical role of leadership quality, adaptability during change, and building a robust technology infrastructure that supports scalability and innovation.

To listen to Vinay, Kristin, Trent or Misha's full podcast episode, go to https://www.bluwave.net/podcasts.

To get connected to a world-class, perfect-fit service provider from our curated network, go to https://www.bluwave.net/start-a-project.

Richard Fitzgerald, Co-Founder and Managing Partner at CapitalSpring, joins Sean Mooney to share the story behind one of the most enduring sector-focused firms in private equity. In a conversation that moves well beyond deal mechanics, Richard reflects on the early days of CapitalSpring, the value of sticking with a niche, and what it takes to build trust and alignment — across teams, LPs, and portfolio partners — over the long haul.

Episode Highlights:

• 1:07 – Richard’s path to private equity
• 7:53 – Building a sector-specialist investment firm with true competitive advantage
• 11:06 – We'd know Richard better if we knew this about him
• 18:27 – Working through hard things – navigating the pandemic
• 26:45 – The art of private equity in the franchise/multi-location sector – best practices
• 35:48 – Benefits of having a sector specialist franchisee investors for sponsors investing in franchisors
• 40:42 – Flexibility to provide both debt and equity solutions for growing businesses is a competitive advantage
• 43:05 – Richard’s advice for his 22 year-old-self

For more on CapitalSpring: https://www.capitalspring.com

To connect with Richard Fitzgerald: https://www.linkedin.com/in/fitzgeraldrichard

For more on Challenge Aspen: https://challengeaspen.org/

For more on the Michael J. Fox Foundation: https://www.michaeljfox.org/

Explore more episodes of Karma School of Business: https://www.bluwave.net/podcasts

Brooke Ablon, Co-Founder and Partner at Fort Point Capital, joins Sean Mooney to share how his firm scales lower middle market companies through a precise mix of strategy, data, and partnership. From executing disciplined add-on acquisition plans to transforming founder-led businesses into institutional-grade operations, Brooke walks through a real-world private equity playbook that’s built for today’s competitive landscape.

🔑 Key Topics Covered:

• [00:01:09] How a psychology major and distressed investor found his way into private equity

• [00:10:22] What distressed investing teaches you about cash flow, value, and conflict

• [00:19:27] Fort Point’s investment criteria: value proposition, management excellence, and fit

• [00:24:48] How to create value with strategic add-ons, board governance, and growth alignment

• [00:29:09] Using data analytics and utilization tracking to uncover hidden margin

• [00:32:34] Advice for management teams: think proactively, act decisively, use your data

• [00:40:24] Why private equity careers (and outcomes) are marathons, not sprints

For more information on Fort Point Capital, go to: https://www.fortpointcapital.com

For more information on Brooke Ablon, go to: https://www.linkedin.com/in/brooke-ablon-5168514

For more information on the Karma School of Business podcast, go to: https://www.bluwave.net/podcasts

Brian Neider, Managing Partner at Lead Edge Capital, joins BluWave CEO Sean Mooney to break down what great private equity investing really looks like — from systematic sourcing to building one of the most engaged LP networks in the industry. This episode is packed with real-world lessons from 20 years of disciplined execution and growth equity innovation.

Episode Highlights:

• [1:09] Brian’s early lessons in entrepreneurship from running a vending business to building top-of-funnel strategy at Bessemer

• [6:09] How 20,000 cold calls built the foundation for Lead Edge Capital’s thesis-driven sourcing

• [17:06] The 8-point “strike zone” framework Lead Edge uses to evaluate private equity opportunities

• [27:06] How Lead Edge’s LP network drives differentiated value creation and portfolio company support

• [34:30] The role of instrumentation and data discipline in unlocking portfolio performance

• [39:57] Advice to early-career professionals: treat your time, relationships, and decisions like investments

• [45:25] Life hacks from an investor: walking pads, airline points intel, and email follow-up tools

For more information on Lead Edge Capital, go to: https://www.leadedge.com

For more information on Brian Neider, go to: https://www.linkedin.com/in/brian-neider-7774041/

For more information on the Karma School of Business podcast, go to: https://www.bluwave.net/podcasts

• 1:24 - Path to Private Equity: Don’s journey from investment banking to private equity and his early career experiences.
• 4:56 - Leadership Lessons: How sports and teamwork shaped Don’s approach to leadership and problem-solving.
• 10:09 - Building a New Role: Challenges and strategies in developing GTCR’s business development function.
• 27:04 - Value Creation Themes: GTCR’s focus on technology, AI, and proactive risk management strategies to drive portfolio growth.
• 33:02 - Advice to Younger Self: Don’s insights on identifying strengths, following passions, and seeking mentorship.

For more information on GTCR, go to https://www.gtcr.com/

For more information on Don McDonough, go to https://www.linkedin.com/in/don-mcdonough-a6a3611

For more information on BluWave and this podcast, go to https://www.bluwave.net/podcasts/

• 1:14 - Formative Years: Dave’s entrepreneurial childhood and lessons from his family business that shaped his approach to private equity.
• 7:18 - Journey to Cortec Group: How Dave’s experience in investment banking and private equity led him to one of the most unique models in the industry.
• 20:33 - Philosophy of Ownership: Why being “all in” is critical to succeeding in private equity, both for GPs and portfolio leaders.
• 22:35 - Yeti’s Turnaround Story: How tenacity and smart strategic decisions transformed a significant challenge into one of private equity’s top home runs.
• 42:10 - Mitigating Tariffs: Dave explains Cortec’s proactive approach to addressing tariffs and supplier diversification across portfolio companies.
• 48:27 - Adventure and Balance: Dave’s advice for finding balance through curated family trips and why experiences matter as much as success in business.

For more information on Cortec Group, go to https://cortecgroup.com/

For more information on Dave Schnadig, go to https://www.linkedin.com/in/dave-schnadig-a585529

For more information on BluWave and this podcast, go to https://www.bluwave.net/podcasts

• 1:19 - Misha’s Early Journey: Growing up in post-Soviet Russia, launching entrepreneurial ventures as a teen, and transitioning to Silicon Valley during the dotcom boom.
• 7:22 - Entry into Private Equity: Misha describes his unplanned move into private equity after years as a tech operator and entrepreneur.
• 13:43 - Hallmarks of Great Companies: Key factors Misha looks for in businesses poised for success, including strong leadership, adaptability, and robust tech infrastructure.
• [00:18:31] Value Creation at MGX: How MGX helps portfolio companies grow by integrating cutting-edge AI and data strategies.
• [00:23:16] Actionable Advice: Misha highlights the importance of prioritizing data readiness, embracing AI for operational improvement, and rethinking leadership approaches for the future.
• [00:33:44] Advice to Younger Self: Misha reflects on the importance of balancing drive with kindness while pursuing high performance.

For more information on MGX, go to https://www.mgx.ae/en

For more information on Misha Logvinov, go to https://www.linkedin.com/in/mlogvinov

For more information on BluWave and this podcast, go to https://www.bluwave.net/podcasts