Stew Campbell, Partner at The Chernin Group
In Part 2, Stew Campbell returns to share tactical guidance for founders evaluating outside capital. We dive deep into how to run a founder-led investor process, what to watch for in term sheets, and how to build long-term wealth while scaling a founder-led business. Stew breaks down growth equity vs. private equity, investor diligence, and how to choose a partner who accelerates—not limits—your next chapter. This episode is a must-listen for any operator planning a recap, acquisition, or capital raise in the next 1–3 years.
Things You’ll Learn:
How to run a founder-led competitive investor process
What to ask when evaluating potential investors and term sheets
How to align capital strategy with long-term wealth goals
Ways great investors create real value beyond the check
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[00:04:00] - What happens when firms break process and push early
[00:05:00] - Building long-term relationships before you transact
[00:08:30] - IOI vs. LOI: How to solicit and compare offers
[00:09:30] - The three most important terms to negotiate
[00:12:30] - Founder control, redemption timelines, and board dynamics
[00:15:00] - Setting personal wealth goals alongside business strategy
[00:19:30] - Case study: How one founder gave back to their community
[00:21:30] - Challenging assumptions around recap timing
[00:27:00] - How to get the most value from investor advisors
[00:34:30] - Bootstrap vs. venture-backed founder mindsets
[00:46:30] - Craziest things seen in M&A: Founder stories & deal drama
Questions, comments, concerns?
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