How We Invest. How We Build.
At Novadvice, we empower exceptional entrepreneurs to acquire and scale established SMEs across Europe and North America.
We back exceptional entrepreneurs in acquiring and growing proven SMEs across Europe and North America. We don’t just provide capital, we co-invest, seat on boards and stay close through very stage of the journey. Driving by long-term partnerships, rigorous processes and transparency in everything we do.
We provide capital, operational discipline, and a structured support system that enables searchers and CEOs to grow resilient, high-performing companies. With 21+ acquisitions completed and €1.4bn+ in combined portfolio enterprise value, Novadvice is one of Europe’s most experienced ETA and search fund investors.
We act as an active investor, not an incubator. By sitting on boards and maintaining operational involvement from acquisition to exit, we move beyond the role of a passive fund to ensure long-term value creation. Our hands-on approach is designed to drive excellence across our portfolio, consistently aiming for a target IRR of >25%.
Novadvice bridges institutional discipline and entrepreneurial vision, turningopportunity into sustainable, scalable growth.
From Investment Discipline to Entrepreneurial Growth
Entrepreneurship Through Acquisition (ETA) is a proven entrepreneurship model — pioneered at Stanford and Harvard Business School — where experienced professionals acquire and lead established, profitable SMEs rather than building from scratch. ETA and search funds have historically delivered median returns of 4x+ MOIC for investors, with lower risk than traditional venture capital.
Each investment follows a structured process, from sourcing and financing to governance and growth, culminating successful exits.
Structured Execution:
Every deal is built on a disciplined process ensuring clarity, accountability, and measurable outcomes.
Active Partnership:
We work alongside entrepreneurs, bringing strategic guidance and board-level support to transform ambition into lasting performance.
Our Investment Approach
Our investment approach focuses on long-term growth, strategic decision-making, careful market analysis, and building sustainable value through disciplined planning.
Empowering Entrepreneurial Ownership:
Novadvice builds long-term value by backing entrepreneur-operators who acquire and lead established SMEs. Through disciplined sourcing, structuring, and governance, we turn entrepreneurial ambition into sustainable growth.
NovEtA Investments
(Novadvice Entrepreneurship Through Acquisition)
Novadvice invests in search fund entrepreneurs and ETA operators through its NovEtA vintages in Europe and North America. We provide capital, deal structuring expertise, and active board-level involvement to help operators acquire, lead, and grow resilient, profitable SMEs — from the search phase through to exit.
Direct Majority Investments:
Novadvice partners directly with entrepreneurs to acquire control stakes in profitable B2B companies, combining disciplined deal structuring, hands-on governance, and long-term value creation.
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Novadvice blends entrepreneurial vision with investment discipline. We actively support entrepreneurs through rigorous selection, hands-on governance, a focus on durable value creation.
Strategic Growth Through Acquisition
Empowering the Next Generation of Business Leaders
Frequently asked questions
Novadvice is an alternative investment platform focused on Entrepreneurship Through Acquisition (ETA). We partner with entrepreneurs and investors to acquire and grow established SMEs across Europe and North America.
Through its NovEtA vintages, Novadvice backs search fund entrepreneurs from sourcing to acquisition and beyond, providing both capital and strategic governance support.
Unlike traditional PE, Novadvice combines institutional investment discipline with an entrepreneurial approach. We invest in people first and remain actively involved through board participation and operational oversight.
Yes. In addition to NovEtA, Novadvice selectively co-invests in Real Estate and Venture Capital strategies, collaborating with specialized partners who share our long-term value philosophy.
A search fund is an investment vehicle in which an entrepreneur (the "searcher") raises capital from investors to fund the search for a small or medium-sized business to acquire. Once a target is identified, the investors finance the acquisition. The searcher becomes CEO of the acquired company and receives an equity stake. Novadvice supports search fund entrepreneurs through its NovEtA funds in Europe and North America.
ETA (Entrepreneurship Through Acquisition) places an entrepreneur-operator at the helm of the acquired company, with a long-term commitment of 5 to 10 years. Traditional private equity typically involves a fund that acquires, optimizes, and sells within 3 to 7 years without direct operational management. At Novadvice, we combine the rigor of institutional private equity with entrepreneurial involvement: our managing partners co-invest and serve on the board of directors.
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After closing, Novadvice remains actively involved through: (1) representation on the board of directors, (2) strategic support for key decisions (external growth, financing, exit). Our goal is to transform every acquired SME into a leading company in its sector.
More than 700,000 European SMEs are expected to undergo ownership transitions by 2030, a large proportion of which do not have an identified family successor. This wave of business transitions creates a historic investment opportunity for well-positioned search fund players. At the same time, the European search fund ecosystem grew by more than 300% between 2018 and 2024, bringing the number of active search funds in Europe to over 200. Novadvice, with a presence in 12 countries and over 15 years of experience, is one of the best-positioned players to capitalize on this opportunity.
Novadvice is headquartered in Brussels, Belgium (Chaussée de la Hulpe 177, 1170), and has investments in companies operating 12 countries in Europe and North America.
Investing in the Future of ETA Leadership
Through our NovEtA structure or fund or investments?, Novadvice partners with ambitious entrepreneurs to acquire and grow proven SMEs. We bring capital, strategic insight, and board-level expertise to turn opportunity into lasting value.
