For search fund principals

Run the search with the team you don't have.

FirmOptic is a purpose-built research workflow for solo and two-partner searchers. Build your thesis, pull a ranked target list, and generate a cited diligence memo before your next owner call. No analyst required.

Used by principals backed by traditional and self-funded models Research cited to sources you can click Pay per report. No seats, no annual contracts.
The solo searcher reality

The search fund math assumes you have more hours than you do.

You raised ~$500K in search capital (or skipped the raise and went self-funded). You have 18 to 24 months. You are one person, maybe two. The 2024 Stanford GSB Search Fund Study tracked a record 94 new funds launched in 2023 alone, which means more searchers are hunting the same owners you are (Stanford GSB, 2024).

Monday

Outreach day

200 emails go out. Maybe four replies come back. Industry benchmarks put cold outreach reply rates around 2% for well-targeted campaigns (Sopro, 2026). That is not a failure of your campaign. That is the game.

Tuesday to Thursday

36 hours to learn a company

An owner replies and wants to talk Thursday. You are in Google, LinkedIn, Apollo, the state business registry, ChatGPT, and a half-built Excel pipeline. Eight tabs open. Notes you will not trust tomorrow. You take the call with a half-page of research and a lot of nodding.

Friday

Investor update due

Your LPs want a pipeline update. You spend the afternoon rebuilding a deck you already rebuilt last month. Every hour on tooling is an hour not on owner calls. The clock does not stop. Your investors are counting.

You do not need a bigger tool stack. You need the analyst team you cannot afford to hire.

How FirmOptic helps searchers

One workflow from thesis to memo.

The parts that build your judgment stay yours. The parts that do not teach you anything get compressed into minutes.

Thesis builder

Describe your thesis in plain English. "HVAC companies in the Southeast, $1M to $4M EBITDA, owner 55 plus, no broker listing." FirmOptic parses it into structured filters, and you refine with natural language. No NAICS code memorization, no filter stacking.

Thesis-based discovery

See the size of your universe before you commit a single dollar. Get a ranked list of companies that match every criterion, with enrichment on ownership, revenue signals, headcount, and geography.

Screening workflow

Accept or pass on targets with a reason code. Your passes train the matching. The list gets sharper every week.

Deep research memo

Click "research" on any company and a multi-agent pipeline (planner, researcher, sanitizer, reviewer) produces a cited report in about 15 minutes. Ownership, financial signals, market, leadership, legal, technology, and more. Every claim links to a source you can verify before the call.

Thesis-relative scorecard

Every researched company gets a scorecard calibrated to your thesis, not a generic algorithm. Rank 50 targets in seconds.

Shareable memos

Send a link to an LP, an advisor, or a lender. They read the memo and export to PDF or Word. No FirmOptic account required on their side.

Pipeline tracking

From thesis fit to closed, in one kanban. Time in stage, overdue alerts, CSV export. Stop maintaining a pipeline spreadsheet you only trust on Fridays.

Outreach assist

Per-company contact data, AI-drafted first-touch emails, and a checklist of interactions tracked against each target. Research and outreach stay in the same workflow.

Proof and outcomes

Built for how searchers actually work.

35.1% IRR

Search funds in the 2024 Stanford study posted a 35.1% aggregate IRR across 681 tracked funds since 1984 (Stanford GSB, 2024). The returns are real. The constraint is time to acquisition. FirmOptic compresses the research hours that stand between a thesis and a closed deal.

Every claim cited

Every memo cites every source. You verify what you need to verify, the same way you would verify an associate's work.

Traditional and self-funded

Used by principals backed by traditional search investors including the kinds of LPs featured in funds like Pacific Lake's fourth vehicle (Buyouts Insider, 2024), and by self-funded operators running SBA-backed acquisitions.

More at-bats

The common pattern across search stories on Acquiring Minds and Think Like an Owner is the same: the winners got more at-bats. FirmOptic is a lever on at-bats.

Questions we get

What searchers ask us before they sign up.

"My search budget can't carry a $25K tool."
It does not have to. FirmOptic is pay-as-you-go. A deep research report is under $5 at the entry tier, under $3 as a member. If you research 50 serious targets a month, that is $99 on the member plan. You spend more on a flight to an owner meeting.
"I want to learn the business by doing the research myself."
Good. You still read the memo. You still make the call. You still form the thesis. FirmOptic takes care of the parts that do not teach you anything: formatting, source hunting, cross-tab copying. The parts that build your judgment are yours.
"I don't trust AI research. I've seen hallucinations."
So have we. That is why the pipeline is four agents, not one. A planner scopes the question, a researcher gathers, a sanitizer strips unverified claims, a reviewer audits. Every surviving claim is cited to a source. You check what matters before you act.
"Won't LinkedIn Sales Nav and Excel do the job?"
For pure contact discovery, yes. For a researched memo before Thursday's call, no. The question is not whether the free stack works. It is whether it works fast enough for a 24-month clock.
"What if I close fast?"
You stop paying. No seats, no annual contract, no cancellation calls. If you close in month 4 on 20 reports, you spent under $300 on research. No one has ever regretted that.
Pricing

Priced for a searcher, not a sponsor.

Reports Standard Member
20 reports$99$49
50 reports$199$99
100 reports$299$149
250 reports$499$249

Membership is 50% off research credits every month. Cancel any time. No seats, no per-user pricing, no annual commit.

The clock is already running.

You know the math. 18 to 24 months, one person (maybe two), hundreds of targets, and the owner conversations that actually matter are the ones you walked into prepared.

Build your thesis in the next ten minutes. Run your first deep research report for under five dollars. See what a cited memo looks like before your next call.