How I Left PE and Bought 16 Companies | Kaido Veske Interview

Mike Markus ( ⁠https://x.com/PrivatEquityGuy ) talks with Kaido Veske of Livonia Partners ( https://www.livoniapartners.com/ ) about Kaido’s journey from working at a mid-cap private equity firm in the US to returning to Europe, raising a fund that now manages nearly $200 million, and completing 16 acquisitions to date.0:00 Why start a fund2:56 Wharton and early US exposure3:39 US finance years and coming back to Europe6:03 Livonia today: focus and deal size7:06 Minority and majority deals7:23 Fundraising as a first-time GP8:25 Early deals: structuring and fund size limits10:08 Fund 1 vs Fund 2 evolution13:38 Sourcing engine and “kill list”16:00 Small market, big opportunity20:32 Post-acquisition playbook and cadence25:55 Thermory case: build, buy, exit35:43 Mistakes: leverage and market calls38:28 Fund size ceiling in the Baltics46:54 Team lessons and alignmentSponsors:https://capitalpad.com/ - A deal-by-deal private equity investing platformhttps://www.spacebarstudios.co/inquireThis podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.