full

full
Published on:

17th Dec 2024

Human-to-Human Deal Sourcing: Winning in the Future of Private Equity with Lane Rankin

Lane Rankin, Founder of Illuminate Education, joins us to share his incredible journey from educator to EdTech entrepreneur. Along the way, he reveals the secrets to engaging founders, the importance of genuine human connection in private equity, and his vision for a more supportive future for the industry.

If you’ve ever found yourself becoming frustrated with the impersonal, transactional nature of private equity outreach, this episode is definitely for you as Lane exposes the flaws in traditional approaches and champions a new era of relationship-driven dealmaking. 

Join us today and discover how prioritizing shared values, vulnerability, and authentic curiosity can unlock unprecedented levels of trust and lead to mutually beneficial partnerships.

Key Insight [0:46:46]: "I really am focused on how do I continue to be a good elder...being someone that's helpful to people that are trying to do good things in the world." Learn how to shift your mindset from pure profit to purpose-driven investing as Lane shares his criteria for selecting ideal business partners.

Potential Pitfall [0:04:31]: "My first impression, honestly, was just hardcore money people...pretty cutthroat. Didn’t really care about the founders, didn’t really care about the products, just really cared about how much money can we make and how fast can we make it." Lane addresses the common fear of founders losing control and purpose when partnering with private equity, offering insights into how to identify firms that prioritize long-term value creation.


Strategic Approach [0:32:03]: "Four meetings. Four LOIs. That's it right there." Lane reveals how targeted outreach, based on deep research and genuine connection, can dramatically improve your success rate in deal sourcing. Discover how to identify your ideal partners and craft compelling outreach that resonates with their values and aspirations.


Practical Tip [0:54:01]: "If you were to look at my contacts right now...I know everybody's...birthday anniversaries, kids names...Because when I get back on the phone with that person, I'm going to be like, ‘Hey, last time you mentioned...’" Lane emphasizes the power of remembering personal details to foster deeper connections. Learn how this simple yet powerful tactic can differentiate you from the competition and build lasting relationships.


CHAPTERS:

00:00 - Guest Introduction: Lane Rankin

01:18 - Early Private Equity Exposure

05:14 - Evaluating Private Equity Partners

10:32 - Evolution of Private Equity Outreach

19:46 - Partnering with Insight Partners

25:02 - Human Connection in Deal Sourcing

33:02 - Data-Driven Sourcing Precision

40:20 - Authenticity in Business Relationships

0:45:46 - What the future holds for Lane

0:48:37 - Lane’s ideal business partner

0:50:36 - Building relationships with high quality CEOs



Links:

Dan Herr: https://www.linkedin.com/in/danielherr/

Matt Rooney: https://www.linkedin.com/in/matt-rooney-coastalpartners/

Coastal Partners: https://www.coastalpartners.co/

Lane Rankin: https://www.linkedin.com/in/lanerankin/

Illuminate Education: https://www.illuminateed.com/

Next Episode All Episodes Previous Episode

Listen for free

Show artwork for Deal Sourcery

About the Podcast

Deal Sourcery
Engagement & The Art of M&A
Deal Sourcery is the must-listen podcast for Private Equity professionals aiming to master the art of deal origination. Hosted by Dan Herr - who’s closed over $1B in transactions in the last decade while building and leading world-class deal sourcing teams - and Matt Rooney, a top recruiter in PE business development, we dive into cutting-edge trends, proven tactics, data-driven sourcing strategies and the technology shaping the future of M&A. Each episode features in-depth discussions with exited founders, PE professions and investment bankers, delivering exclusive, actionable insights you won’t find anywhere else. Tune in to elevate your sourcing skills and optimize your firm’s capital deployment.

About your hosts

Daniel Herr

Profile picture for Daniel Herr
Dan is the visionary Founder & CEO of Acqwired after more than a decade sourcing more than $1B in TEV in proprietary private equity deals across software, services and industrials highly engineered end markets like aerospace, medical and consumer electronics.

Matt Rooney

Profile picture for Matt Rooney
Matt is the Founder of Coastal Partners, a specialized recruiting firm focused on placing deal-sourcing and investor relations professionals in mid-market private equity. With over a decade of experience, he has placed hundreds of professionals and advises firms on building BD teams.

He regularly shares insights on private equity business development, breaking down role dynamics and hiring strategies for firms and professionals navigating the space.