Best ICV Podcasts (2026)

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Ep. 106: John Messer, Copilot Capital | Scaling Software Without Losing Focus 35:51

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3d ago35:51

35:51

On this episode, John Messer, Co-Founder and Managing Partner at Copilot Capital, breaks down how value is built in scaling European B2B software businesses—including how to professionalise go-to-market, sharpen customer segmentation and pricing and use M&A as a focused growth lever. Get practical guidance on sequencing international expansion, mai…

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Private Equity Operating Partners as Value Creation Translators with Mike Magliochetti 42:38

19d ago42:38

42:38

Mike Magliochetti, Operating Partner at Riverside Partners and former multi-time PE-backed CEO, explains how operating partners create real value by bridging deal teams and portfolio company leadership. Drawing from three decades as an operator and his book Dancing Between the Toes of Elephants, Mike shares how trust, pattern recognition, and execu…

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Ep. 105: Andrejka Bernatova, Dynamix | Public-Market Pathways and Investing in Energy 58:17

1M ago58:17

58:17

On this episode, Andrejka Bernatova, Founder and CEO of Dynamix Corporation, shares how investors can evaluate mission-critical energy and infrastructure businesses by focusing on fundamentals such as contract quality, customer durability and operating reality, rather than market sentiment or emerging-tech narratives. Learn about approaches to publ…

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Ep. 104: Dave Lambert, Right Side Capital | Navigating Pre-VC Growth and Funding Paths 38:57

1M ago38:57

38:57

On this episode, Dave Lambert of Right Side Capital Management shares what thousands of early-stage investments reveal about how pre-VC companies actually grow. Get clarity on how to evaluate early traction, set realistic fundraising paths and use capital efficiency to extend runway long enough for product-market fit to emerge. Tune in to hear how …

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Ep. 103: Giacomo Sonnino, Charlesbank | Driving Growth and Efficiency in Services Businesses 50:56

1M ago50:56

50:56

In this episode, Giacomo Sonnino, Advisory Director and Operating Partner at Charlesbank Capital Partners, shares how top PE firms connect diligence, underwriting and value creation to shape the first 12–24 months of an investment. This discussion highlights how to identify and prioritize the value levers that matter most in services businesses—fro…

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Ep. 102: Caroline Tarpey, Lead Edge Capital | Moving Beyond AI Hype to Real Operational Impact 41:44

1M ago41:44

41:44

Caroline Tarpey, Managing Director at Lead Edge Capital, outlines a practical approach to AI adoption in PE-backed companies—grounded in trust, clear goals and disciplined execution. She explains why most AI initiatives fall short and where teams can quickly unlock better decision-making and operational efficiency. You’ll learn how AI is transformi…

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Ep. 101: Vik Thapar, Cypress Growth Capital | Non-Dilutive Funding with Royalty-Based Capital 36:55

2M ago36:55

36:55

Shiv sits down with Vik Thapar, Managing Director at Cypress Growth Capital, to explore how royalty-based growth capital helps bootstrapped B2B companies scale without dilution. Vik breaks down when this structure works best, how repayment is designed to support continued growth and why many founders use it to double down on proven sales and market…

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Private Equity Career Lessons from 25 Years with Meranee Phing Naaman 59:32

2M ago59:32

59:32

Meranee Phing Naaman, a trailblazer with over 25 years in private equity and two decades as a senior investment partner at Riverside Company, shares hard-won lessons from building and scaling businesses in consumer markets. She explains why IQ alone isn't enough in PE—you need EQ to sell your vision and LQ (learning quotient) to keep pattern recogn…

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Ep.100: Rafael Telahun, Altaline | Rerating Companies Through Hands-On Operational Strategy 40:54

2M ago40:54

40:54

On this episode, Shiv is joined by Rafael Telahun, Managing Director at Altaline Capital Management, to discuss value creation that is built on strategy, rather than just institutionalization. Rafael breaks down how to meaningfully rerate a business by getting hands-on to make improvements like increasing mission criticality, making strategic prici…

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Ep. 99: Josh Christensen, Mercato Partners | Building Billion-Dollar Ecosystems as a Minority Investor 36:03

2M ago36:03

36:03

Josh Christensen, Director at Mercato Partners, shares how minority growth investors can turn ecosystem-building into a true competitive advantage—without taking control or over-engineering outcomes. Drawing on his experience scaling Mercato’s playbook across non-coastal markets, Josh breaks down what it takes to embed sales, marketing, and human c…

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Private Equity Valuation: Academia vs. Reality 48:09

2M ago48:09

48:09

Sean Mooney, Doug McCormick, and Lloyd Metz dissect the gap between textbook valuation methods and what actually happens when private equity firms decide what to pay for a business. They compare DCF models to LBO models, debate the usefulness of terminal value assumptions, and explain why market-based approaches trump theoretical frameworks. The co…

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Ep. 98: Riccardo Basile, Permira | How to Focus Your Operating Team for Real Impact 39:38

2M ago39:38

39:38

Riccardo Basile, Operating Partner, Head of Value Creation at Permira, shares how firms can turn value creation into a true competitive advantage—without overcomplicating the model. Drawing on his experience building and scaling Permira’s 24-person value creation team, Riccardo breaks down what it takes to embed operating excellence from diligence …

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Ep. 97: Rita Ferrandino, Arc Capital Development | The Downturn Playbook: How to Thrive When Growth Stalls and Disruption Accelerates 39:53

2M ago39:53

39:53

On this episode Shiv interviews Rita Fiorentino, Co-Founder of Arc Capital Development, to unpack a battle-tested playbook for steering portfolio companies through economic downturns—especially when AI disruption, political volatility, and geopolitical shocks are compressing growth. Rita lays out a disciplined sequence that starts with risk assessm…

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Ep. 96: Jeremy Schein, Corsair Capital | Driving Enterprise Value in Financial Services with Strategic Collaboration 39:53

3M ago39:53

39:53

On this episode Shiv interviews Jeremy Schein, Partner and Member of the Buyouts Investment Committee at Corsair Capital, to discuss how private equity firms can drive enterprise value in financial services through collaborative operating expertise. Jeremy shares Corsair’s approach to partnering with management teams in fintech, payments, and adjac…

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Ep. 95: Ed Byrne, Scaleworks | Scaling SaaS with Sustainable Growth through Venture Equity 40:16

3M ago40:16

40:16

On this episode Shiv Narayanan interviews Ed Byrne, co-founder of Scaleworks, a venture equity firm based in San Antonio. Ed shares his background as a software entrepreneur and the lessons learned from his experiences that led to founding Scaleworks ten years ago with partner Lou Moorman. The discussion explores the concept of "venture equity" as …

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When Things Go Wrong, Part II: Taking Action When Performance Slips 45:44

3M ago45:44

45:44

In this continuation of their conversation on portfolio performance, co-hosts Lloyd Metz (ICV Partners), Doug McCormick (HCI Equity Partners), and Sean Mooney (BluWave) move from diagnosis to action: what to actually do once you know a business isn’t performing to plan. They cover how to tell a temporary headwind from a structural problem, where to…

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Ep. 94: Lindsey Gray, Pacific Lake | Thesis-Driven Search and the Playbook for Scaling CEOs 48:28

3M ago48:28

48:28

On this episode Shiv interviews Lindsay Gray, Partner at Pacific Lake, to explore how the firm backs entrepreneurs through the Entrepreneurship Through Acquisition (ETA) or search fund model—an approach that turns traditional private equity on its head by starting with the entrepreneur before the company. Lindsay walks through Pacific Lake’s indust…

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Ep. 93: Kelly Ford Buckley, Edison Partners | Driving Enterprise Value Through Execution-Focused Growth Strategies 45:04

3M ago45:04

45:04

On this episode, Shiv interviews Kelly Ford Buckley, General Partner at Edison Partners, a growth equity firm with over 39 years of experience investing in high-growth software companies in secondary markets. Kelly dives into Edison's hands-on approach to value creation, emphasizing their preference for taking on execution risk over product or mark…

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Ep. 92: Drive Pipeline & Revenue Amid Market Uncertainty | Shiv Narayanan, How To SaaS 41:30

4M ago41:30

41:30

In this solo episode of the Private Equity Value Creation Podcast, Shiv Narayanan breaks down the challenges facing portfolio companies in today’s market—and shares a clear roadmap for investors, CEOs, and revenue leaders to drive growth. From slowing sales pipelines to rising competitive pressures and the impact of AI, many companies are underperf…

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When Things Go Wrong: Diagnosing and Fixing Portfolio Problems 39:37

4M ago39:37

39:37

Private equity is messy in real time. In this episode, co-hosts Lloyd Metz (ICV Partners), Doug McCormick (HCI Equity Partners), and Sean Mooney (BluWave) lay out practical ways to spot trouble early, separate market shifts from operator errors, and use forward indicators, not just rear-view financials, to steer. They cover KPI design by business m…

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Ep. 91: Craig Jones, TPE Boulder | Scaling Value in the Lower Middle Market through Strategic Growth 37:48

4M ago37:48

37:48

On this episode Shiv Narayanan interviews Craig Jones of TPE Boulder to discuss value creation in lower middle market private equity, focusing on smaller companies with $2-5 million in EBITDA. Craig shares TPE Boulder’s approach to scaling businesses through organic growth, emphasizing diversification by location and provider, strengthening managem…

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Ep. 90: Gus Araya, Cordillera Investment Partners | Finding Value in Alternative Assets 42:32

4M ago42:32

42:32

On this episode Shiv interviews Gus Araya, Co-Founder and Co-Managing Partner of Cordillera Investment Partners, to discuss how PE firms can generate alpha by investing in alternative assets like marinas, music royalties, and spirits. Gus shares Cordillera’s approach to targeting niche, less correlated markets, using a repeatable process to source,…

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Ep.89: Andy Lund, Houlihan Lokey | Navigating Fundraising and Liquidity in a Challenging Private Equity Market 55:20

4M ago55:20

55:20

On this episode, Shiv Narayanan interviews Andy Lund, Managing Director and Global Co-Head of Primary Capital Advisory at Houlihan Lokey, to discuss strategies for private equity firms navigating today's challenging fundraising and liquidity environment. Andy shares insights on how GPs can differentiate themselves in a crowded market, leveraging to…

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Ep. 88: Eliot Kerlin, Broadwing Capital | Building Value in the Lower Middle Market with an Operational Playbook 37:01

4M ago37:01

37:01

On this episode Shiv interviews Eliot Kerlin, Co-Founder of Broadwing Capital, to explore how PE firms can create value in the lower middle market by combining a systematic playbook with deep operational resources. Eliot explains Broadwing’s five-part framework—from fortifying the foundation and scaling for growth to talent development, stakeholder…

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Ep. 87: Michael Wilkins, Shamrock Capital | How Sector Focus Impacts Deal Flow and Growth 45:15

5M ago45:15

45:15

Shiv interviews Michael Wilkins, Partner at Shamrock Capital, to explore the opportunities PE firms can unlock through deep expertise in sectors including media, entertainment and sports. Michael explains how industry focus and long-term networks translate into proprietary deal flow, why value creation plans need to be tailored to each company rath…

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Ep. 86: How To SaaS Team | Turning Marketing into a Growth Engine for PE-Backed Companies 53:51

5M ago53:51

53:51

In this episode, Shiv Narayanan sits down with members of the How To SaaS client services team to talk about the most common marketing challenges inside PE-backed portfolio companies—and how to solve them. Chief Client Officer Farhad Chikhliwala, VP of Marketing Taylor Moore and Director of Marketing Tatiana Morand discuss why poor tracking and mis…

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Ep. 85: Brian Boorstein, Granite Creek Capital Partners | Using Flexible Capital Structures to Unlock Growth 35:31

5M ago35:31

35:31

Shiv interviews Brian Boorstein, Co-Founder and Partner at Granite Creek Capital Partners. On this episode, Brian shares how to leverage flexible investment structures to unlock growth in lower middle market companies. Learn about the importance of aligning capital, talent and opportunity, and hear about how rigid investment mandates can cause PE f…

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Ep. 84: Garrett Marsilio, Delta-v Capital | Creating Liquidity Through Secondaries in Tech 33:44

5M ago33:44

33:44

Shiv interviews Garrett Marsilio, Partner at Delta-v Capital. On this episode, Garrett dives deep into the evolving landscape of secondaries in private markets. Learn how secondary investments are creating new liquidity pathways for venture-backed companies and why this is becoming a preferred strategy. Hear about adding post-investment value throu…

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Ep. 83: Kade Thomas, Emory Oak Partners | Scaling Service Businesses with a Long-Term Approach 40:42

5M ago40:42

40:42

Shiv interviews Kade Thomas, Founder & CEO of Emory Oak Partners. On this episode, Kade explains how his firm grows service businesses. Learn about a proven approach to building companies from the ground up, integrating acquisitions, using centralized teams to handle shared services and using data to guide marketing and cross-selling strategies.…

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Ep. 82: Amanda Good, Searchlight Capital Partners | Turning Good Businesses Into Great Investments 39:06

6M ago39:06

39:06

Shiv interviews Amanda Good, Partner and Head of Value Creation at Searchlight Capital Partners. In this episode, Amanda shares practical strategies to transform good companies into great ones through operational excellence, team enhancements, and a disciplined planning process. Learn how to balance quick-win initiatives with longer-term strategic …

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Ep. 81: Andrew Weinberg of Brightstar Capital on Blending AI with Traditional PE Strategies 35:08

6M ago35:08

35:08

Shiv interviews Andrew Weinberg, Founder, CEO & Co-Chair at Brightstar Capital Partners. On this episode, Andrew talks about transforming traditional private equity through an “invest and operate” or ”us and us” model. Learn how AI is becoming an integral value creation lever alongside traditional strategies and about practical examples of applying…

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Summer Break — See You After Labor Day 1:28

6M ago1:28

1:28

Sean Mooney shares a quick update from the Best But Never Final team. With deal flow, board work, and summer schedules in full swing, the podcast is taking a short break until after Labor Day. Sean reflects on the original vision for the show, offers suggestions for catching up, and previews what’s ahead. Whether you’re new to private equity or dee…

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Ep. 80: Bradford Pilcher of Bonaccord Capital Partners on Unlocking PE Firm Growth Through GP Stakes 57:16

6M ago57:16

57:16

Shiv interviews Bradford Pilcher, Partner at Bonaccord Capital Partners. In this episode, Brad unpacks the GP stakes strategy – what it is, how it works, and why it’s more than just a passive investment. Learn how mid-market private equity firms can grow through capital formation, thoughtful product diversification, and talent strategy. Learn what …

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Ep. 79: Lloyd Metz, ICV Partners | Transforming Legacy Businesses with Capital, Digital, and EQ 46:45

7M ago46:45

46:45

Shiv interviews Lloyd Metz, Managing Partner at ICV Partners. In this episode, Shiv and Lloyd discuss investing in legacy or family-owned businesses in sectors like consumer goods (CPG), food and beverage (F&B), and business services. Learn how to drive transformation in these companies by modernizing operations, embracing digital, and scaling go-t…

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Ep. 78: Jon Nuger, Berkshire Partners | Prioritizing Culture Within PE Firms 43:17

7M ago43:17

43:17

Shiv interviews Jon Nuger, Managing Director at Berkshire Partners. Shiv and Jon discuss the importance Berkshire Partners places on culture within the firm and the impact this has on the way they invest and create value. Learn how a focus on culture can be a differentiating strategy, how it shapes your relationships and conversations (particularly…

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Private Equity’s Guide to Board Meetings: Building Strategy and Driving Value 52:26

7M ago52:26

52:26

Board meetings are a critical tool for private equity firms to drive strategy, track progress, and unlock value. In this episode, Sean Mooney, Lloyd Metz, and Doug McCormick explore how private equity boards operate, from setting agendas and assembling members to balancing tactical updates with strategic discussions. They discuss the importance of …

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Ep. 77: Hilary Gosher, Insight Partners | Operational Excellence from Sourcing to Exit 53:40

7M ago53:40

53:40

Shiv interviews Hilary Gosher, Managing Director at Insight Partners. In this episode, Shiv and Hilary discuss how Insight’s 120-person Onsite team gives the firm a competitive edge across its portfolio. Learn how having an in-house operations team can be a force multiplier for portfolio companies by bringing deep functional expertise and strategic…

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Ep. 76: Richard Erickson and Stan Bikulege, Lightview Capital | Scaling Founder-Led B2B Services Businesses 34:01

7M ago34:01

34:01

Shiv interviews Richard Erickson, Co-Founder and Managing Director, and Stan Bikulege, Principal, at Lightview Capital. In this episode, Richard and Stan discuss how they invest in and scale founder-led B2B services-based businesses. Learn about the benefits of recurring and reoccurring revenue, their value creation strategy, and how to align with …

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Ep. 75: Raj Bakhru, BlueFlame AI | How AI Is Transforming Private Equity Workflows 38:12

8M ago38:12

38:12

Shiv interviews Raj Bakhru, CEO and Co-Founder at BlueFlame AI. In this episode, Shiv and Raj discuss how generative AI is transforming private equity operations. Learn how AI agents are already reshaping workflows across sourcing, diligence, and portfolio value creation. Hear how PE firms can leverage proprietary data and build internal AI committ…

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Private Equity’s Consolidation Strategy: Keys to Success in Fragmented Markets 40:58

8M ago40:58

40:58

Consolidation strategies are a proven way to create value in fragmented markets, but execution is everything. In this episode, Doug McCormick walks through the key principles of launching and scaling a buy-and-build platform, sharing lessons learned from a real-world example in the lawn care industry. Joining Sean Mooney and Lloyd Metz, Doug dives …

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Ep. 74: John Stewart, MiddleGround Capital | Optimizing Operations in Industrial Manufacturing Portcos 44:34

8M ago44:34

44:34

Shiv interviews John Stewart, Founder and Managing Partner at MiddleGround Capital. In this episode, John shares his expertise in investing in the industrial B2B manufacturing space — from his two decades at Toyota, to moving to the investment side of the equation. Learn about underwriting the value creation plan and creating enterprise value for i…

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Ep. 73: Alex Russ, Evercore | How to Stand Out in the Fundraising Crowd 46:53

8M ago46:53

46:53

Shiv interviews Alex Russ, Senior Managing Director & Head of North America at Evercore’s Private Funds Group. In this episode, Alex shares his experience helping private equity GPs raise funds from LPs. Learn how to approach fundraising in the current market, the characteristics that successful fundraisers have in common, and the importance of a s…

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Private Equity in 2025: Diligence and Value Creation Trends 49:21

8M ago49:21

49:21

Private equity is evolving rapidly, and staying ahead requires innovation in both diligence and value creation. In this episode, Sean Mooney, Lloyd Metz, and Doug McCormick explore the latest tools, trends, and strategies that are reshaping the private equity landscape in 2025. The conversation dives into cutting-edge approaches to due diligence, i…

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Ep. 72: Chris Sznewajs, Pacific Avenue Capital | Investing in Companies with “Unnatural” Owners 43:43

8M ago43:43

43:43

Shiv interviews Chris Sznewajs, Founder and Managing Partner at Pacific Avenue Capital. In this episode, Chris and Shiv discuss carve-outs, buyouts, and the non-traditional types of investment deals available for “unnatural” owners – founders and investors who are ready for a transition. Learn how to underwrite these types of deals, and what benchm…

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Private Equity’s Response to Tariffs: Insights with Beacon Global Strategies’ Michael Allen 49:47

9M ago49:47

49:47

Tariffs are at the center of a rapidly changing global trade landscape, creating both challenges and opportunities for businesses. In this episode, Sean Mooney, Lloyd Metz, and Doug McCormick are joined by Michael Allen, co-founder of Beacon Global Strategies, to explore the state of U.S. trade policy, its impact on private equity, and how business…

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Ep. 71: Amanda Kim, Avante Capital Partners | How Your Mission Can Be a Valuable Differentiator 38:09

9M ago38:09

38:09

On this episode of the Private Equity Value Creation podcast, Shiv speaks with Amanda Kim, Principal at Avante Capital Partners. As a majority women- and minority-owned private credit and structured equity fund, the team at Avante Capital Partners uses their unique insights and network to win deals, generate better returns and help women advance in…

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The Keys to Effective Merger Integration in Private Equity 55:00

9M ago55:00

55:00

Merger integration is a critical component of private equity strategies, especially in buy-and-build models. In this episode, Sean Mooney, Lloyd Metz, and Doug McCormick break down what it takes to successfully integrate acquisitions, why careful planning is essential, and the risks that come with getting it wrong. From cultural alignment and chang…

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Ep 70: Mason Myers, Greybull Stewardship | Building Foundational Growth in Pre-Mid-Market Portcos 39:18

9M ago39:18

39:18

Shiv interviews Mason Myers, Founder and CEO at Greybull Stewardship. In this episode, Mason explains why Greybull Stewardship focuses on pre-middle-market companies and the steps they take to set these companies up to be true middle-market companies primed for PE backing. Learn how they take companies under $5M in EBITDA and grow them organically,…

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Ep. 69: Devon Kirk and Jonathan Metrick, Portage | How Investment and Ops Teams Can Work Together 41:28

9M ago41:28

41:28

Shiv interviews Devon Kirk, General Partner, and Jonathan Metrick, Chief Growth Officer at Portage. Devon and Jonathan share their perspectives from different sides of the investment table – Devon is on the investing team while Jonathan is on the internal ops team. Learn about their experiences investing in global FinTech and financial services, wh…

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Featured: Thoma Bravo’s Behind the Deal with Coupa CEO Leagh Turner 36:26

10M ago36:26

36:26

In this featured episode, we’re excited to share a conversation from Thoma Bravo’s Behind the Deal podcast. Join managing partner Holden Spaht as he sits down with Leagh Turner, CEO of Coupa, to explore how Thoma Bravo and Coupa are revolutionizing business spend management, leveraging AI, and driving innovation post-acquisition. Hear how Coupa is …