About Paige Pond Partners:
Paige Pond Partners is an entrepreneur-led acquisition vehicle (search fund) seeking to acquire a business in the U.S. We are targeting businesses with an enterprise value between $10 and $100+ million and are focused on businesses in the B2B services sector, including tech-enabled services and software. Some examples of industries we are exploring include supply chain and logistics, maintenance and repair software, training and compliance, and legal software, among others.
To learn more about the search fund model, please review the Stanford GSB Search Fund Primer.
Job Description:
This internship is best suited for students who have an interest in pursuing a career in private equity, banking, consulting, and / or entrepreneurship, although students with other interests are welcome to apply (such as those interested in technology and supply chain management). The internship is remote, and you will work directly with Cooper Foster, the founder and principal of Paige Pond Partners LLC. Please take some time to learn more about Cooper and Paige Pond Partners before applying.
Through this internship, you will help Cooper and his partners source and research acquisition targets and craft personalized outreach to business owners — namely email campaigns requiring in-depth knowledge of a given business, its owner, and its industry.
In addition, for those interns who have an interest in working with Cooper more intently for a longer period, they may have the opportunity to:
- Gain valuable leadership experience by training and managing junior interns.
- Practice financial modeling and learn how lower middle market private equity buyouts are structured and evaluated.
- Participate in due diligence as deals progress through the Letter of Intent (“LOI”) stage.
- Build a relationship with Cooper, who is excited to mentor young, ambitious students and help them navigate the challenges of starting their careers.
You will join a team of 2-3 other interns, and Cooper will host a 1 hour weekly team meeting to encourage networking and the sharing of knowledge and best practices. Cooper’s goal is create a community for learning, and this is only made possible by your willingness to engage with your peers and stay involved throughout the internship.
Compensation:
While the internship is unpaid, Cooper promises to compensate interns with his time, resources, and dedication to their learning and development. Before starting your internship, Cooper will ask you to provide your goals for the internship, which should be SMART goals: Specific, Measurable, Achievable, Relevant, and Time-bound. Over the course of your internship, you and Cooper will work together to achieve your goals and ensure that the experience is as rewarding as possible.
Requirements:
- Resume and separate document including the top 3 reasons why you’re excited about this internship and an outline of your SMART goal(s) for the internship.
- 10+ hour commitment per week for one semester, although longer internships are encouraged.
- Interns will be required to sign an NDA before commencing the trial period, which will remain in effect for the duration of their internship.
Responsibilities:
Internships are contingent on completing a two-week trial period to ensure that there is a two-way fit.
- This trial period will include (1) an initial training session (including onboarding for Google Workspace and deal sourcing tools), (2) two check-ins per week and other touch points as needed, and (3) deliverables due at the end of each week.
- Trial period deliverables include: (1) a list of 100 fully vetted target companies in one or more target industries (industries to be provided), and (2) intel or ideas to inform outreach to business owners for the 10 most interesting / promising targets.
This trial period is indicative of the metrics that you will be held accountable for each week during your internship. These core weekly responsibilities may be supplemented by other tasks and experiences, depending on your efficiency in completing tasks, your availability, and the duration of your internship.
What Does Great Look Like?
In addition to establishing SMART goals and skillfully executing your weekly tasks, your experience will be most fruitful if you:
- Communicate effectively and proactively.
- Exercise humility, ask smart questions, and optimize time spent with Cooper during one-on-one sessions.
- Navigate ambiguity and embrace an entrepreneurial mindset (i.e., a mindset that leads to one being more resourceful, resilient, and solutions-oriented).
- Think outside the box and are eager to learn.