2018 NEXU Year-End Review
I wanted to take a chance to summarize the advances we made in 2018 at NEXU Partners. Thank you for being a part of our journey and for supporting us.
2018: First Steps
Adios Barcelona
Perhaps the most notable item of 2018 was moving from Barcelona, my home of two years, back to the United States. The two years I spent in Spain provided great professional and personal growth, while also giving me a group of lifelong mentors and friends. In addition, during those two years, I lived in a student residence and enjoyed giving support and character talks to university students.
Studying at IESE was a dream. Now that I am back in the US, many friends ask me why I chose to cross the pond and study in Europe, over local options. The simple response is the immense attraction I felt towards the mission of the school: to humanize business by teaching business leaders to consider the human impact of their actions. In addition to deepening my understanding of the many components of business, my desire to be a servant leader through NEXU was ignited at the school by the example of the faculty and staff I encountered.
Quite often students encounter Dean Franz Heukamp living out the mission, whether it’s picking up a piece of trash from the floor, spending meaningful time with students he truly cares for, or greeting everyone with a smile. As he mentioned, “This is our home. We have to treat it as such. All of us.”
Howdy Dallas
After completing fundraising in early 2018, I had a few months to outline plans for NEXU before drawing money from the fund. Over the summer, I lived with my family, and was supported by three interns to lay the groundwork for NEXU as we were taking our first steps.
As with any entrepreneurial path, an important decision was choosing a location to base NEXU. After carefully considering a few options and consulting various investors, I chose Dallas. Dallas proves to be an economical decision, both in cost-of-living and in central location, relative to traveling destinations. Also, I studied in Dallas and have a wide professional network here. Being back in Texas also means I am closer to my family for the first time in several years. In fact, my younger brother, Javier, studies nearby at my alma mater, SMU, and we live together.
Next, we had to start building a team. One of NEXU’s summer interns, Max Minicus, continued with NEXU into the Fall as Senior Analyst. Part of his responsibility was to recruit a team of interns which we have been extremely proud to welcome to NEXU. Treating NEXU like an operating company teaches us valuable lessons in leadership, marketing, human resources, etc. Practicing these skills helps to lay the foundation for our future, operating a business.
We have enjoyed our conversations with business owners thus far and are starting deeper analysis on a few opportunities. We will continue to seek out exciting industries and take different routes to find ideal opportunities. We look forward to expanding our network, deepening our relationships, and continuing our search in 2019.
IESE International Search Fund Conference
I represented NEXU at IESE’s International Search Fund Conference, marking my third appearance at the global conference and my first time with a “Searcher” name tag. It has been fun to grow up with this amazing community and see friends progress from students to searchers to CEOs to investors. I hope to advance through the model and encourage many others to get the “Searcher” name tag — and hopefully one day have the “CEO” title on my nametag.
Once again, IESE Professor Rob Johnson put on an amazing event, supported by Jan Simon, Peter Kelly, Jürgen Rilling, Jose Stella, Will Thorndike, Simon Webster, Antonio Davila, and Eddy Zakes. Many who have a chance to take a class with Rob during their MBA recognize his simple and humble demeanor. His leadership style was evident throughout the conference, making sure everyone was having a good time and all the little details were attended to. This attitude outlines NEXU’s servant leadership tone.
During the conference, I was honored to be invited by Professor Thomas Klueter, who I greatly admire, to join Relay Investment’s Martin Steber and LEA Transmission’s Bruno Lea (a French-based searcher and friend) to excite second year MBA students about entrepreneurship through acquisition. I also had a chance to give a talk to the IESE Entrepreneurship Through Acquisition Club, which I founded during my path to creating NEXU Partners. Thank you to current club President Rodrigo Arellano for the opportunity!
One of the highlights of the conference was the publishing of the IESE 2018 International Search Fund Study and the 2018 Stanford Search Fund Study. I was honored to contribute in a small way to the insights on international search funds, published by IESE Professors Rob Johnson, Stanford Professor Peter Kelly, and IESE MBA 2011 Lenka Kolarova. We hope this will help more people choose to pursue this exciting professional journey!
Personal Reflection
This past year was a year of many changes for me. I graduated from school, moved from one country to another, and started my full-time work at NEXU. Now, a few months into the search, I certainly feel like a child taking his first steps: unstable, uncertain, but excited. There will be falls and bruises, but I hope that with each fall, we are able to get back up as quickly as a child.
Recently, I was playing tennis with a friend in Dallas who is a few years younger than I. He asked me if at his age I imagined I would be doing what I am now. I responded that I definitely did not. I never saw myself as an entrepreneur. Like many others before me, I assumed the entrepreneurial path was a door open to a few select individuals bestowed with talents unlike mine. I had many doubts. Would anyone actually invest in me? Would I be able to convince anyone to work with me? Would an owner be willing to sell their company to me?
To all of you having those same doubts, I would like to reiterate the same comment Professor Irv Grousbeck has stated many times, “I hold firmly the belief that entrepreneurship is a reasonable career alternative. Not for all, but for any who might choose it. You don’t need to be impulsive, head-strong, bombastic or flamboyant. You need no operating experience, though it usually helps. In short, to be an entrepreneur there are no external barriers, only those we internally impose.”
So, dream big. You are capable. And if you choose to go down the entrepreneurial path, remember what you are fighting for. Don’t do it for the title of founder or managing director. Don’t do it for the money either — there are many easier ways to make money. Do it to chart your own course, for as an entrepreneur you will choose your destiny and have the potential to leave an imprint on a company, a community, but also on people. And that matters!
If you find yourself in Dallas, please do not hesitate to send me a message. I would enjoy catching up in person and spending time with you. Thank you for being a part of NEXU.
Cordially,
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