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Auronix: Martin Urrutia
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In this episode, Martin recounts his entrepreneurial journey from management consultant to launching a search fund in Mexico. Martin highlights the importance of tapping into the search fund ecosystem, dealing with the pressures of closing, and strategies for value creation while discussing what it’s like to follow your passion, culminating in his decision to venture away from the 130-year-old family business to acquire Auronix.
Some advice from Martin:
"The only way you learn is by taking the leap, and learn by falling down."
"It sounds very romantic - going out there buying a company and operating a company. And it is extremely rewarding, but it’s also really, really challenging."
"The beauty about the search fund is that it’s been done so many times, and there’s such a fantastic network around the search fund ecosystem, from fellow searchers to investors to advisors... There are best practices out there."
Resources:
https://www.polocapital.mx/
smeventures.com
https://www.auronix.com/
Chapters
1. Auronix: Martin Urrutia (00:00:00)
2. Entrepreneurial beginnings (00:06:00)
3. Moving to management consulting (00:09:13)
4. Return to entrepreneurial roots: Business School and Search Funds (00:12:25)
5. Searching in Mexico: Polo Capital Partners (00:19:19)
6. The acquisition: Auronix (00:22:15)
7. Curveball: raising additional capital (00:30:13)
8. Emotional rollercoaster: the pressure to close (00:34:20)
9. Post-acquisition: value creation and roadblocks (00:36:58)
10. Launching a search fund outside of the US (00:42:44)
14 episodes
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