Deal Sourcery

At Deal Sorcery Live, recorded at M&A SoCal, Ori Eldarov (Founder of OffDeal) and John Camp (Arbor Investments) join the show to discuss the origins of business development and how artificial intelligence is reshaping dealmaking — from sourcing to closing.

They discuss what happens when AI takes the wheel in investment banking, why human relationships still matter more than ever, and how the next generation of deal professionals will work alongside technology, not against it.

Topics covered:

• How AI is transforming deal sourcing and private equity workflows
• Building an AI-native investment bank with more engineers than bankers
• Why a human-first approach still drives great deals
• The evolution of business development in a tech-driven market

#DealSorcery #PrivateEquity #AI #InvestmentBanking #OffDeal #ACGSoCal

Are you actually building the kind of BD function that wins deals—or just checking a box?

Jay Jester, BD Legend and Partner at Plexus Capital joins Deal Sourcery to unpack what makes great sourcing teams stand out.

With decades of experience, Jay shares real stories and tactical insight on how to build trust, manage founder psychology, and turn your BD team into a true strategic asset.

If you're hiring, scaling, or just trying to sharpen your edge in BD, Jay shares a sharp, unfiltered perspective from one of the best in the business.

CHAPTERS:

00:00 – Intro: Who is Jay Jester?

02:43 – Early dealmaking days and defining BD

07:30 – The evolution of sourcing in PE

11:45 – Why likability still matters in deals

15:22 – Giving feedback to bankers (and why most firms don’t)

21:10 – Building a BD team that actually works

26:18 – Founder psychology and buyer trust

31:33 – Choosing the right banker: strategy vs comfort

36:50 – The myth of “full coverage”

41:17 – Why sourcing is more than dialing for dollars

KEY TAKEAWAYS:

“People want to be in business with and want to do deals with people they like.”

“The BD lead isn’t a bolt-on. They should be in the pitch—and seen as senior.”

“If sourcing’s not connected to the engine room, it doesn’t work.”

“The perfect alignment is when someone on the other side of the deal cares so much it could change their life.”

CONNECT WITH JAY:

Jay Jester: https://www.linkedin.com/in/jay-jester-plexus/

Are you making cold calls but just not locking in enough deals? Compass Equity Group's Jonathan Babcock joins the show to explain how playing the long-game and developing a firm-wide culture of thesis lead business development has helped them win.

Jonathan walks us through the Compass Method's 13-touchpoint outreach strategy and how it leads to deeper connections with business owners, keeps them competitive and wins deals.

📍CHAPTERS: 

00:00 – Intro

02:30 – An Overview on the Compass Method and How to Stay Competitive

07:30 – How a Thesis Driven Approach Can Set You Apart

08:30 – Going from Idea to Fleshed Out Thesis

10:30 – The Thesis Development Process

12:45 – The Importance of Metrics in Thesis Development

14:30 – Essential Information for Developing a Thesis

17:45 – Centers of Influence & Key Relationship Building Techniques

21:30 – How Do You Find Well-Connected People In Your Target Markets?

23:00 – When to Start Direct Outreach

27:15 – Measuring Success

29:00 – Advice for Starting at a New Firm

📝 KEY TAKEAWAYS 

“People forget that people do deals with people they like.”

“You have to have an angle, and it needs to be ingrained in the culture to do things in a differentiated way.”

“Don't confuse activity with productivity. Metrics play a key role in identifying what stage you're at - is it moving forward?”

“Leave the suit at the office. I do a lot of cold calls where the first ten seconds are crucial and you've got 10 seconds to show why you're reaching out, building credibility. But the most important part of that I've realized is, you don't spew out a bunch of industry knowledge you think you have - you try to build a relationship.”

🔗 CONNECT WITH JONATHAN:

LinkedIn: https://www.linkedin.com/in/babcockjonathan/

#BusinessDevelopment #PrivateEquity #Thesis

If you’re getting started at a private equity firm in business development, this one's for you. Inspired by Dan’s viral LinkedIn post, you’ll get tried-and-true steps for crushing your first 90-days on the job: how to build your banker pipeline, optimize your time on the road and actually measure your success. Whether you’re the first sourcing hire at a fund or stepping into a seasoned team, this is your outline on how to hit the ground running and set yourself up for long-term success. 

Read Dan’s original LinkedIn post: https://www.linkedin.com/posts/danielherr_8-steps-to-success-in-a-new-pe-sourcing-role-activity-7287804951840399361-Dz7W/

📍CHAPTERS: 

00:00 – Intro & Origin of the 90-Day Framework

03:30 – Who This Applies To

04:45 – Days 1–30: Be a Sponge

07:00 – Internal vs. External Messaging

08:45 – Read the IC Materials Like Treasure Maps

10:30 – Portfolio Company Primers

13:15 – Days 30–60: Start Building Relationships

16:45 – Prioritize Like an Investor

21:30 – Build the Prospect & Banker Database

23:00 – Days 60–90: Execute & Win Quick

24:45 – Hit the Road: Why In-Person Still Wins

29:00 – Metrics, Measurement & Accountability

35:00 – Top 2 North Star Metrics for New BD Hires

36:30 – Call to Action

📝 KEY TAKEAWAYS 

“Before you're out there pitching everybody about how magical our firm is, it's diving into the nitty gritty of who are we, why do we win, where do we win, where do we lose.”

“You go back through these old IC materials... there’s a lot of low hanging fruit that’s sitting in there for you to go tackle as a sourcing professional.”

“You’ve got hundreds, thousands, millions of different things you need to be doing... Our number one job is prioritization.”

“There’s still no proxy for that in person... The number of deals I’ve done because I got in front of someone. You just can’t replicate that over Zoom.”

🔗 CONNECT WITH THE HOSTS:

Dan Herr:  https://www.linkedin.com/in/danielherr/

Matt Rooney: https://www.linkedin.com/in/matt-rooney-coastalpartners/

Coastal Partners: https://www.coastalpartners.co/

#BusinessDevelopment #PrivateEquity #NewHires

Is your Private Equity firm invisible? You might be missing 80% of the deals you should see. Today, discover why traditional PE outreach isn't enough and how strategic marketing is now essential for competitive deal flow as Joanne Verkuilen, Founder and Managing Partner at MiddleM Creative, reveals the playbook.

Private equity faces intense competition, making deal flow the top challenge. Yet many firms still think marketing is just having a decent website or occasional email blast. This outdated view means missed opportunities and wasted BD effort. You might be completely invisible to intermediaries and founders holding deals perfectly suited for your strategy.

But the landscape has shifted dramatically. Relying solely on old relationship models or basic websites isn't sustainable when capital deployment pressure is high. Firms that don't adapt risk falling behind, struggling to find the right deals, and failing to convince founders they're the best partner. Strategic, multi-channel marketing is no longer optional; it’s the answer to being seen, building trust, and winning in today's market.

🎯 KEY EPISODE TAKEAWAYS:

📉 DEAL FLOW DANGER ZONE [5:30]:

"Something between like 80% and 82% of the time firms will not see deals in their wheelhouse... For me that is like such a red flag."

Stop missing out. Learn why unclear messaging means you're likely invisible for the vast majority of relevant deals and how fixing this is critical.

🤝 WINNING FOUNDER TRUST [27:01]:

"If you can really convince and get excited with your prospect that you really know their industry and you can really add value and help them grow their business, that is like probably number one usually that we hear from as in terms of criteria... And that's what a founder cares about."

Win more deals by connecting deeply. Discover why showcasing sector expertise and genuine partnership matters more than ever to founders.

📢 EXPAND YOUR TOUCHPOINTS [36:19]:

"Your marketing shouldn't be just email... Luckily we have LinkedIn... that's a place too that we try to leverage with our storylines and with the messaging and just staying in touch and using broader communication elements."

Expand your reach beyond the inbox. See how consistent presence on platforms like LinkedIn and strategic PR keeps you top-of-mind between meetings.

CHAPTERS:

00:00 - Building a Private Equity Brand with the Three Cs

01:08 - Why Marketing is Key to Improving Deal Flow

03:27 - Aligning Marketing Strategy with BD for Competitive Edge

04:56 - The 80% Deal Miss Rate and How to Fix It

07:13 - Full Service Marketing Tools That PE Firms Actually Use

08:55 - How PE Marketing Has Evolved in the Last Decade

12:30 - Marketing as the Awareness Engine for BD Success

14:54 - PR and Thought Leadership as Deal Sourcing Levers

17:53 - Why PE Firms with BD Teams See Higher AUM Growth

24:57 - What Founders Really Want from a PE Partner

34:59 - Cutting Through the Noise with Clear, Confident Messaging

39:24 - The Highest ROI Channels

43:07 - Using Video to Humanize the PE Brand

46:35 - Should PE Firms Develop a Public Brand Personality?

48:53 - Humanizing Private Equity Through Values-Based Storytelling

49:27 - Structuring Your PE Marketing and BD Team from Day One

🔗 CONNECT WITH JOANNE VERKUILEN:

• LinkedIn: https://www.linkedin.com/in/joanneverkuilen/

• MiddleM: https://www.middlemcreative.com/

How do top PE firms consistently win deals before they even hit the market? Today’s episode of Deal Sourcery pulls back the curtain with Justin Smith, Managing Director of Business Development at Agellus Capital. Justin reveals the playbook behind one of the most sophisticated intermediary-first sourcing functions in the middle market.

Matt and Dan sit down with Justin to dissect the strategies Agellus uses to build relationships, leverage data, and secure access to exclusive opportunities. Learn why pre-work is paramount, how to effectively utilize buy-side advisors, and the infrastructure needed to track every critical interaction. This is your blueprint for competing and winning in today's hyper-competitive deal environment.

CHAPTERS:

00:00 - Intro: Winning Deals Before the CIM Goes Out

01:19 - The Proprietary Deal Flow Debate: Insourcing vs. Outsourcing

04:19 - Understanding and Leveraging Buy-Side Advisors

07:51 - The BD Professional as an Account Executive: Driving the Conversation

10:45 - Building Rapport & Messaging to Founders

15:16 - Setting Up Your BD Infrastructure: CRM, Data, and Tech Stack

19:08 - Key Metrics: Tracking Conversations, Deal Flow & Missed Opportunities

21:41 - Banker Coverage Strategy: Tiering, Industry Focus & Road Shows

27:59 - Out-Hustling the Competition: Conferences vs. Road Shows

34:10 - The Rise of "Advantaged Auctions" & Exclusive Processes

38:25 - Thesis Development: The Role of BD & Leveraging Your Network

44:30 - Who To Surround Yourself With: Beyond the Bankers

45:12 - The Critical Importance of Pre-Deal Executive Talent Strategy

48:04 - Justin's BD Career Path & Advice for Aspiring Leaders

53:24 - The Future is BD: Why Sourcing is Leading Private Equity

55:26 - Final Thoughts & Wrap-up

🔗 CONNECT WITH DAN, MATT & JUSTIN:

Dan: https://www.linkedin.com/in/danielherr/

Matt: https://www.linkedin.com/in/matt-rooney-coastalpartners/

Justin Smith: https://www.linkedin.com/in/justinwsmith/

Coastal Partners: https://www.coastalpartners.co/

Agellus Capital: https://www.agellus.com/

Is your compensation in line with your peers in private equity business development? Are you unsure of what the market standard is for base, bonus, and carry?

Today we break down the highly anticipated 2024 Business Development Compensation Survey, offering crucial insights into current compensation trends, bonus structures, and the factors that truly influence your earning potential in the competitive world of PE deal sourcing. Get the data you need to benchmark your worth and understand the evolving landscape of BD compensation.

CHAPTERS:

00:00 - The Compensation Conundrum: Are You Paid Fairly in PE BD?

01:11 - Unveiling the 2024 BD Compensation Survey: What's Inside?

01:49 - Behind the Data: Survey Methodology and Participation Insights

03:55 - Who Responded?: Demographics of the BD Compensation Survey

06:23 - Lower Middle Market Dominance: Where BD Talent is Concentrated

08:11 - Regional Hotspots: Northeast Still Leads in BD Professionals

08:59 - Compensation Blind Spots: Why This Survey Matters

09:39 - The Compensation Gap: BD vs. Investment Professionals

11:14 - Diving into the Data: Key Compensation Takeaways for 2024

12:33 - Uniformity Across Titles?: Base Salary Increases by Seniority Level

13:36 - Bonus Bumps and Deal Volume: A Correlating Trend?

16:14 - Carry Allocation Trends: When Does Carry Kick In for BD Roles?

19:55 - Decoding the Numbers: Base, Bonus, and Total Comp by Title

23:24 - The Compensation Formula?: Regression Analysis and Key Drivers

25:14 - Seniority Rules: Title as the Top Predictor of Base Salary

27:31 - The Office Paradox: Days in Office and Compensation Correlation

30:44 - Discretionary vs. Metric-Driven Bonuses: What's the Breakdown?

33:56 - Success-Based Bonuses: A Smaller Piece of the Pie Than You Think

35:53 - The Bonus Structure Shift?: Moving Towards Metric-Based Compensation?

39:28 - Intermediary vs. Proprietary Sourcing: Impact on Bonus Structures?

41:45 - Get the Full Report: Where to Dive Deeper into the Data

42:33 - Stay Connected: Deal Sourcery and Coastal Partners Resources

Key Takeaways:

"We saw an 11% increase from 2023 base salary into 2024. And that's across all levels, seniority fund sizes. But you know, a healthy increase."

"VP level and above is when it starts to be much more common to have a carry allocation."

"Seniority level seems to be the primary indicator of like the most significant change in base compensation. And then fund size kind of behind that..."

"57% indicate that they only receive discretionary bonuses."

🔗 CONNECT WITH THE HOSTS:

Dan Herr: https://www.linkedin.com/in/danielherr/

Matt Rooney: https://www.linkedin.com/in/matt-rooney-coastalpartners/

Coastal Partners: https://www.coastalpartners.co/

#BusinessDevelopment #PrivateEquity #CompensationSurvey

Frustrated that your company hasn't gotten noticed by the buyers that should be approaching you? Every business owner is being told to sell, but what happens when you have limited options, no network and no time? Now, get ready for your business to be on the global stage.

OffDeal's Founder and CEO, Ori Eldarov, unveils a revolutionary approach to selling your business, leveraging AI to maximize value and streamline the process. Discover the future of deal sourcing and why traditional methods are falling behind.

CHAPTERS:

00:00 - The Future of Sell-Side M&A and AI-Driven Deal Sourcing

01:25 - From Wall Street to Entrepreneurship

02:37 - How Cooking Oil Collection Led to M&A Insights

05:54 - Why Search Funds Are Booming Among MBA Graduates

07:34 - The Pivot That Led to OffDeal’s Success

10:04 - Why Private Equity Firms Struggle with Deal Sourcing

12:47 - The Sell-Side Advisory Gap in SMB M&A

15:19 - Why Most Small Business Sales Happen Without Advisors

18:05 - Can Marketplaces Work for Small Business M&A?

21:51 - The Real Number of Sellable Businesses in the U.S.

27:16 - How AI is Revolutionizing Deal Sourcing and Matching

30:44 - The Power of AI Agents in Private Equity

34:06 - AI vs. Traditional Deal Sourcing

38:48 - The Role of AI in M&A Execution and Due Diligence

42:12 - How OffDeal Automates the Investment Banking Process

46:44 - The Future of M&A

51:39 - Why Private Equity Firms Are Slow to Adopt AI

🔗 CONNECT WITH ORI ELDAROV:

• LinkedIn: https://www.linkedin.com/in/eldarov/

• Website: https://offdeal.io/

#AISourcing #DealTech #FutureofM&A

Is your inbox flooded with generic PE outreach? Learn how to cut through the noise and connect with the right investors, as Raj Singh, AI founder and investor of Go Moment, Revinate and PEF Community fame, reveals his insider secrets to navigating the PE landscape and building authentic relationships that drive deals.

Raj shares his firsthand experience navigating the flood of PE outreach, leveraging AI for smarter engagement, and what truly resonates with founders. Tired of generic outreach? Discover how to stand out, build trust, and make a lasting impression.

CHAPTERS:

00:00 - The AI Founder's PE Playbook

01:31 - The AI Journey

02:53 - Navigating the AI Hype Cycle

07:25 - What is Go Moment?

10:20 - The Billion Smiles Mission

15:10 - First Exposure to Private Equity

18:04 - Memorable vs. Frustrating Pitches

20:51 - The Volume of Outreach

21:37 - Email vs. Calls

22:32 - Building Authentic Connections

24:08 - Common Characteristics of High-Quality PE Outreach

27:17 - The Impact of AI on Private Equity and Deal Sourcing

27:50 - Will AI Take Our Jobs?

31:43 - AI in Go-to-Market

35:38 - Applying Go-to-Market Strategies to Private Equity Outreach

38:21 - Misconceptions About AI Capabilities

41:36 - Can AI Replace Human Relationships?

45:52 - AI Generates Plausible Answers, Not Necessarily Correct Ones

47:02 - Keeping a Human in the Loop

47:48 - The Future of Raj

49:51 - Final Words of Wisdom for PE Professionals

50:59 - Private Equity in One Word

🔗 CONNECT WITH RAJ SINGH:

LinkedIn: https://www.linkedin.com/in/rajsinghla/

Discover the story of how Campminder's CEO, Dan Konigsberg, built a wildly successful, values-driven company culture, attracting both top talent and ideal investors. Learn how to move beyond generic outreach and create a magnetic force that draws the right partners to you.

Dan shares his journey, revealing the crucial role of authentic core values in building a sustainable business. This episode is a must-listen for entrepreneurs, CEOs, and anyone seeking to create a thriving workplace.

Chapters:

00:00 - Navigating Peak Operational Seasons

02:24 - Comprehensive Camp Management Solutions

03:48 - Leveraging Facial Recognition for Engagement

05:36 - Bootstrapping to Longevity

14:36 - The Role of Authentic Core Values

19:50 - Creating Alignment Through Core Values

23:54 - Culture as a Competitive Advantage

27:18 - Defining and Upholding Company Values

32:27 - Choosing Value-Aligned Investors

40:20 - Long-Term Thinking for Sustainable Growth

45:26 - Transparency in Leadership Transitions

48:46 - Evaluating Culture During Mergers and Acquisitions

54:10 - Adding Value Beyond Capital

57:12 - Authentic Outreach in Private Equity

Connect with Dan:

LinkedIn: https://www.linkedin.com/in/dankonigsberg/

Campminder: https://campminder.com/

Links:

Dan Herr: https://www.linkedin.com/in/danielherr/

Matt Rooney: https://www.linkedin.com/in/matt-rooney-coastalpartners/

Coastal Partners: https://www.coastalpartners.co/

#CompanyCulture #ValuesDrivenBusiness #PrivateEquity