BluWave's Karma School of Business

In this episode of Private Equity Spotlight, Sean Mooney sits down with Ran Ding and Chris Scullin from Norwest to discuss why private equity is ultimately a people-driven business. With deep insights into founder-led businesses and long-term partnership strategies, Ran and Chris share their unique approach to building trust, creating value, and fostering alignment with the companies they invest in. From their personal journeys to the principles that guide their work, this episode offers timeless lessons for investors and founders alike.

Episode Highlights

2:15 – Discover how Ran Ding and Chris Scullin turned personal challenges into professional purpose in private equity.

8:45 – Building trust and alignment: The secret to lasting partnerships in founder-led businesses.

17:30 – Winning strategies for scaling founder-driven companies while preserving their culture.

26:15 – How a people-first mindset sets Norwest apart in the world of private equity investing.

36:50 – Real-world examples of value creation and supporting businesses through thoughtful capital allocation.

48:20 – How to craft your own adventure: Lessons in finding energy and fulfillment in your career journey.

For more information on Norwest, go to https://www.nvp.com/

For more information on Ran Ding, go to https://www.linkedin.com/in/randing

For more information on Chris Scullin, go to https://www.linkedin.com/in/chrisscullin/

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

In this special episode, Sean Mooney examines how private equity is evolving to meet the challenges of today and tomorrow. From proactive due diligence to transformative value creation, modern firm operations, and corporate citizenship, Sean explores the key trends shaping the future of the industry and highlights the firms leading the charge. Whether you're a private equity practitioner, portfolio company leader, or aspiring partner, tune in to gain actionable insights into the future of the asset class. Episode Highlights:

• 1:16 - Sean introduces four key trends in private equity: proactive due diligence, transformative value creation, modern firm operations, and corporate citizenship.
• 3:54 - The shift from confirmatory to proactive due diligence: How specialists, value creation plans, and detailed insights are helping PE firms bend the supply and demand curve to generate superior outcomes.
• 7:23 - Transformative value creation: Leading PE firms are accelerating change by leveraging internal ops teams, expert third parties, and aligned strategies to drive rapid business transformation.
• 10:17 - Modernizing PE firm operations: How firms are now run like their portfolio companies, with robust BD teams, human capital investments, advanced analytics, and emerging AI tools.
• 15:50 - Corporate citizenship in PE: Examples of firms like KKR, Alpine, and Hidden Harbor leveraging employee ownership, volunteering, and safety nets to create value beyond financial returns.
• 18:01 - Sean introduces BluWave's Top Private Equity Innovators program, highlighting firms that exemplify innovation and success across the key themes shaping the industry.

For more information, and to see the list of the 2025 Top Private Equity Innovators, go to https://www.bluwave.net/awards. To listen to more episodes of the Karma School of Business Podcast, go to https://www.bluwave.net/podcasts.

In this engaging episode of the Karma School of Business podcast, Sean Mooney sits down with Dan Ryan, Managing Director at MidOcean Partners, to discuss his journey in private equity, the evolving dynamics of the industry, and how MidOcean is staying ahead in a competitive market. From life-saving lessons to building critical business functions during challenging times, Dan shares invaluable insights about overcoming adversity, nurturing relationships, and leveraging data to create impactful results. Whether you're a private equity professional or a business leader, this episode offers inspiration and tactics you can apply in your career.

Episode Highlights

2:00 – Dan Ryan's journey from investment banking to private equity and how his time at Georgetown and Division 1 soccer influenced his leadership approach.

8:00 – The life-saving story of a steak dinner gone wrong and how it echoes lessons of trust and collaboration in high-stakes situations.

14:00 – Building MidOcean's business development function during the pandemic and utilizing data as a competitive advantage.

27:00 – How MidOcean is adapting to industry changes by integrating structured equity, leveraging AI, and forming strategic JVs like their initiative with Kroger.

38:00 – The importance of cybersecurity in private equity-backed companies and actionable advice for protecting businesses.

39:00 – Practical life hacks: From generative AI for daily use to a surprising life-saving maneuver for choking incidents.

For more information on MidOcean Partners, go to https://www.midoceanpartners.com/

For more information on Dan Ryan, go to https://www.linkedin.com/in/dan-ryan-3324512/

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

Sean Mooney welcomes Vinay Kashyap, Partner at Mainsail Partners, to explore the art and science of investing in and scaling bootstrapped software companies. With a focus on relationships, discipline, and resourcefulness, Vinay reveals how Mainsail supports entrepreneurs in building enduring businesses. Discover practical strategies for turning product-driven companies into market leaders, leveraging AI for growth, and navigating the fast-changing tech landscape with confidence.

1:07 - Vinay's journey into private equity, how his upbringing influenced his career, and the focus on bootstrapped software companies at Mainsail Partners.

6:45 - The value of long-term relationship building, Mainsail's proactive approach to sourcing investments, and why a three-to-five-year timeline is critical.

10:27 - What makes a great investment: strong growth metrics, durable product quality, and visionary, industry-experienced founders with a learning mindset.

16:29 - Transforming companies post-investment: building infrastructure, upgrading tech stacks, assembling top-tier teams, and implementing data-driven systems.

23:45 - Practical applications of AI within portfolio companies, including customer service transformations and developer productivity optimization.

32:13 - Preparing for a future shaped by AI and the importance of embedding cutting-edge technology into both operations and product offerings.

For more information on Mainsail Partners, go to https://Mainsailpartners.com/

For more information on Vinay Kashyap, go to https://www.linkedin.com/in/vinay-kashyap-3646173

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

In this episode of the Karma School of Business, Sean Mooney hosts Lisa Ames, an accomplished marketing operating executive at Norwest Venture Partners. Lisa shares her unique journey into private equity, the value of fostering trust as a business leader, and actionable strategies for marketing and value creation at portfolio companies. Whether you're a business builder or a marketing professional, this conversation is packed with insights to elevate your approach to leadership and growth.

Episode Highlights

3:07 - Lisa's unexpected path to private equity and how her SaaS background shaped her role at Norwest.

6:05 - The concept of a "business therapist" and why trust is pivotal in operating roles.

14:25 - Key traits of high-performing businesses, including ruthless prioritization and inspirational leadership.

26:37 - Norwest's unique approach to value creation and the resources they offer portfolio companies.

35:11 - Advice on refining Ideal Customer Profiles (ICP) and crafting impactful messaging for targeted growth.

50:16 - Lisa's timeless advice on networking and how building authentic connections transforms careers.

For more information on Norwest Venture Partners, go to https://www.nvp.com/

For more information on Lisa Ames, go to https://www.linkedin.com/in/lisaames

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

In this special Karma School of Business episode, Sean Mooney breaks down key lessons from 2024 and offers predictions for the private equity industry in 2025. Discover what's driving growth, the challenges firms must navigate, and strategies to leverage emerging trends like AI adoption, reshoring, and evolving M&A markets.

Episode Highlights:

2:15 – Looking back at 2024: Stop-and-go momentum, election-year impacts, and why the economy wasn't as predictable as anticipated.

10:00 – Positive signals for 2025: Stable GDP, moderating inflation, and improving private equity deal activity.

18:30 – Why private equity is shifting from "wartime generals" to growth-focused "peacetime ministers" and what it means for 2025.

26:15 – Breaking down the private equity ecosystem: Emerging trends in M&A, human capital, and AI adoption.

34:00 – Upcoming opportunities: U.S. manufacturing renaissance, reshoring strategies, and advice for firms to stay competitive.

42:30 – The road ahead: How private equity can create its own luck and thrive in the next 5-7 year growth cycle.

To request your copy of the Q4 2025 Private Equity Insights Report, visit www.bluwave.net/insights-report.

Join Sean Mooney in this engaging episode of Karma School of Business as he speaks with Jonathan Metrick, Partner and Chief Growth Officer at Sagard. Jonathan shares profound insights on growth strategies, operational excellence, and lessons learned as a former operator turned private equity growth leader. Tune in for actionable advice on accelerating revenue, leveraging data, and adapting to new market dynamics in today's fast-paced environment.

Episode Highlights

[00:02:40] Jonathan's unconventional journey from operator to private equity and his reflections on entering the investment world.

[00:10:25] Why owning your company's "superpower" and becoming obsessive about it drives long-term success.

[00:15:02] How Sagard supports portfolio companies through go-to-market strategies, AI innovation, and commercial partnerships.

[00:23:04] The importance of connected data systems and how they help businesses achieve profit-centric growth.

[00:30:34] Why "speed to lead" is essential and how small changes in response time can boost conversion rates dramatically.

[00:35:12] Jonathan's advice on leveraging benchmarking and learning from others to scale faster and more efficiently.

For more information on Sagard, go to https://www.sagard.com/

For more information on Jonathan Metrick, go to https://www.linkedin.com/in/jonathanmetrick

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

Sean Mooney sits down with Steve Hunter, Managing Director at TM Capital, to discuss the nuanced world of M&A, the key ingredients for creating value in a business, and what both buyers and sellers need to know for a successful deal. Steve offers practical advice for private equity professionals and business owners, sharing timeless insights from his decades-long career and a behind-the-scenes perspective on helping companies achieve transformational outcomes.

Episode Highlights:

1:12 - Steve Hunter shares his journey from rural Pennsylvania to a career in M&A, including his early days at Alex. Brown and Robinson Humphrey.

8:11 - Building value in a business: How to de-risk operations, grow strategically, and attract top buyers by focusing on recurring revenue, growth opportunities, and strong teams.

19:02 - Why every seller should prepare their business as though it's "sale-ready" from day one to maximize outcomes.

24:48 - The importance of transparency, top-tier advisors, sell-side QofE, and handling the overwhelming volume of data requests during an M&A process.

32:06 - Steve shares advice for buyers: Avoiding abrasiveness, thoroughly preparing for management meetings, and balancing operational oversight post-acquisition.

40:59 - TM Capital's tailored approach: A Goldilocks strategy with boutique-level customization and deep investment in deal preparation, including advanced data analytics.

44:27 - Steve looks ahead to 2025 and shares why he's optimistic about a strong year for M&A activity.

51:06 - Insights for life and leadership: The importance of asking for what you want and recognizing that anyone can shape the world around them.

For more information on Edison Partners, go to https://www.tmcapital.com/

For more information on Casey Myers, go to https://www.linkedin.com/in/sjhunter

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

In this episode, Sean Mooney speaks with Casey Myers, partner at Edison Partners, about leadership, value creation, and growing businesses in the lower middle market. Casey shares his unique operator-driven perspective on driving sustainable growth, evaluating leadership, and solving pain points for customers. Episode Highlights:

• 2:37 - Casey shares how his experience with 52 private equity firms during an exit process inspired his focus on operational value creation.
• 8:11 - Casey describes the key foundations of a good company: leadership character, solving customer pain points, and addressing technology debt.
• 16:11 - Casey explains how Edison Partners uses a people-first approach to support leadership development and build high-performing teams.
• 23:54 - Casey highlights the importance of aligning priorities and systematically investing in people to create sustainable growth.
• 32:23 - Casey's advice to his younger self: embrace a broad range of experiences and lean into opportunities to develop versatile skills.

For more information on Edison Partners, go to https://www.edisonpartners.com/

For more information on Casey Myers, go to https://www.linkedin.com/in/casey-atl

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

In this special compilation episode, private equity leaders share the invaluable advice they would give to their younger selves. This collection of insights offers timeless wisdom applicable to professionals at all stages of their careers. Hear lessons on adaptability, patience, relationship building, and trusting your instincts from some of the most respected voices in the industry. Episode Highlights:

• 1:04 - Grant Kornman (Align Collaborate, Episode 53): Discusses the importance of hard work, relationship-building, and creating your own luck.
• 3:20 - John Caple (Hidden Harbor Capital Partners, Episode 57): Talks about embracing feedback, making small process adjustments, and balancing personal strengths.
• 11:02 - Carl Press (Thoma Bravo, Episode 60): Reflects on trusting your instincts, building confidence, and speaking up when you've done the work.
• 13:13 - Doug Horn (Clairvest, Episode 63): Shares the metaphor of not holding the grip too tight and how it applies to life and career.
• 14:58 - Ami Mehta and Joe McIlhattan (Periscope Equity, Episode 64): Ami emphasizes patience and balance, while Joe focuses on skill development and appreciating the journey.
• 19:00 - Cory Eaves (BayPine, Episode 66): Encourages thoughtful planning and doing more of what you love, like sailing.
• 23:12 - Jessica Ginsberg (LFM Capital, Episode 67): Reminds us to stay open-minded, take risks, and trust the process.
• 24:52 - Chris Cathcart (The Halifax Group, Episode 72): Highlights patience, perspective, and learning from each season of life.

Episode Links:

• https://www.bluwave.net/podcasts/grant-kornman-align-collaborate/
• https://www.bluwave.net/podcasts/john-caple-hidden-harbor/
• https://www.bluwave.net/podcasts/carl-press-thoma-bravo/
• https://www.bluwave.net/podcasts/doug-horn-clairvest/
• https://www.bluwave.net/podcasts/ami-mehta-joe-mcilhattan-periscope-equity/
• https://www.bluwave.net/podcasts/cory-eaves-baypine/
• https://www.bluwave.net/podcasts/jessica-ginsberg-lfm-capital/
• https://www.bluwave.net/podcasts/private-equity-spotlight-chris-cathcart-on-cultivating-entrepreneurship-in-pe/

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