Search Fund Model
Acquired, operated, held.
An owner-operated business, acquired through a traditional search process. Topmost operates directly post-close across growth, finance, and talent.
Real estate, an operating acquisition, and advisor equity across fifteen-plus early-stage companies — gathered one deal at a time by an operator who earns positions through execution.
Topmost is not a fund. There is no LP base, no institutional mandate, no carry waterfall. It is a personal holding company, built quietly and at the pace of conviction.
Every position in the register was earned through direct work: operating a company, advising a founder, or underwriting a property. Capital follows execution — never the other way around.
There is no portfolio theory here. Each entry stands on its own, added only when the work has already begun and the answer to ‘would I do this if capital were free?’ is yes.
Acquired, operated, held.
An owner-operated business, acquired through a traditional search process. Topmost operates directly post-close across growth, finance, and talent.
Underwritten like an operating business.
Directly held real estate generating cash flow and appreciation. No syndications, no passive LP slips — each property is managed with operator rigor.
Equity earned at the whiteboard.
A running cohort of early-stage founders. Equity comes from structured mentorship: weekly sessions, framework review, and direct work on go-to-market.
Distribution-led founders, built through relationship.
A concentrated set of formation- and seed-stage equity positions in SaaS, consumer, and media companies — sourced through operator networks, not pitch decks.
“Every position here has a story behind it —
and someone who did the work before the wire.”