Private Equity Podcast: Karma School of Business

Latest Episodes:

Private Equity Growth Levers for Founder-Led Businesses with Tim Billings Jul 01, 2026

Show notes

Tim Billings, Senior Partner at Quad-C, joins Sean Mooney to discuss how the firm evaluates founder-led businesses and partners with "mountain climber" CEOs who want more than capital. He breaks down the traits Quad-C looks for, including superior service, sticky customers, pricing power, multiple growth levers, and leadership teams ready to scale. Tim also explains how value creation comes to life through sales and marketing, executive talent, finance and IT support, disciplined M&A, and thoughtful AI adoption. For private equity leaders and CEOs building toward the next peak, this conversation is worth the climb—hit play.

Episode Highlights

2:00 - Growing up in Northern Virginia, working early jobs, and discovering finance
3:16 - Learning to think like an investor through banking and underwriting committees
9:38 - What Quad-C looks for in founder-led business services companies
11:56 - Why "mountain climber" CEOs are critical to private equity value creation
16:43 - Quad-C's owner mindset and hands-on approach to scaling portfolio companies
21:34 - Sales, marketing, talent, and M&A as core growth levers
30:15 - Tim's advice to his younger self: choose great people and take off the blinders

For more on Quad-C, go to https://www.quadc.com/ For information on Timothy Billings, go to https://www.linkedin.com/in/timothy-billings-67549058/

Private Equity and AI Execution in the Portfolio Jun 17, 2026

Show notes

In this Karma School of Business crossover episode, Sean Mooney is joined by Lloyd Metz, Managing Partner of ICV Partners; Doug McCormick, Managing Partner of Oridian Capital Partners; James Aylward, Chief Product and Technology Officer at BluWave; and Nathan Plummer, Co-Executive Director of Venture Café Global Institute. The group explains how AI moved from long-running concept to practical business tool, and what that means for private equity firms and portfolio company leaders right now. They cover agentic AI, data readiness, applied AI use cases, internal tooling, security concerns, and the leadership challenge of getting teams to adopt new ways of working. This is a practical conversation for business builders who want to move past AI hype and start creating real value—hit play.

Episode Highlights

2:13 - James Aylward's path from Fidelity's AI incubator to BluWave's technology strategy
5:08 - Nathan Plummer on Venture Café's role in connecting startups, investors, and innovators
9:17 - Why ChatGPT marked a "Gutenberg moment" after decades of slower AI progress
13:10 - AI shifts from autocomplete and thought partnership to writing major chunks of code
18:06 - Applied AI moves beyond efficiency into biotech, robotics, imaging, and new product creation
23:28 - Why proprietary data may become the real moat for private equity-backed companies
35:42 - AI literacy, adoption, and the leadership work required to make tools stick
44:05 - BluWave's internal AI tool shows how company data can power faster decisions For information on Oridian Capital Partners, go to https://oridiancapital.com/ For information on ICV Partners, go to https://www.icvpartners.com For information on BluWave, go to https://www.bluwave.net

Private Equity Transformation Through Partnership and AI with Bob Root Jun 03, 2026

Show notes

Bob Root, Transformation Partner at Southfield Capital, joins Sean Mooney to discuss how hands-on operating experience, curiosity, and genuine partnership shape lower middle market value creation. He shares how Southfield works alongside founder-led businesses during the first 100 days, getting close to the work before refining the growth plan. Bob also explains why AI, data moats, and purpose-built technology can help small and mid-sized businesses leapfrog larger competitors. It's a thoughtful conversation on building better companies with humility, speed, and trust—hit play.

Episode Highlights:

1:18 - Growing up in Canada with an educator's curiosity and engineer's problem-solving mindset
3:16 - Lessons from Procter & Gamble, Microsoft, and learning through constant role changes
10:35 - Why Bob's garage reveals his love of building, tinkering, and continuous learning
12:38 - Navigating personal loss while starting a new role and building deeper trust
21:46 - Southfield's "first day in the life" approach to understanding portfolio companies
26:31 - Using technology to help lower middle market companies leapfrog larger competitors
31:18 - Why AI should expand the business, not just reduce costs
38:38 - Bob's advice to his younger self: learning on the job is a feature, not a bug

For more on Southfield Capital, visit: https://www.southfieldcapital.com/

For more information on Bob Root, go to https://www.linkedin.com/in/robert-root-372aa6/

Private Equity Growth Strategy in Vertical Software Markets with Bobby Ocampo May 20, 2026

Show notes

Bobby Ocampo, Managing Partner at Blueprint Equity, shares how his firm approaches early growth-stage investing within private equity. He explains Blueprint's focus on capital-efficient, founder-led vertical software businesses and how they build scalable go-to-market engines post-investment. The conversation also explores how AI, rising competition, and shifting market dynamics are reshaping underwriting and value creation. A practical look at where private equity is heading—and how to win in it.

Episode Highlights:

2:05 - From physics major to private equity via investment banking and venture capital
7:20 - Why Blueprint Equity was built to avoid "asset gathering" and mediocre returns
14:10 - Breaking down growth equity vs. venture capital and traditional private equity
16:05 - Key investment criteria: capital efficiency, retention, and vertical focus
26:10 - Turning "successful in spite of themselves" companies into scalable platforms
30:45 - How AI is reshaping underwriting, product strategy, and competitive dynamics
38:45 - Career advice: spotting opportunity early and jumping on asymmetric upside

For more on Blueprint Equity, visit: https://www.onblueprint.com/

For more information on Bobby Ocampo, go to https://www.linkedin.com/in/bocampo

Private Equity Business Development in a Crowded Market with Tyler Ashley May 06, 2026

Show notes

Tyler Ashley, Head of Business Development at McNally Capital, shares the unconventional path that shaped his approach to private equity. From early global experiences to building a career in deal sourcing and relationships. He explains how McNally's family-backed roots influence its focus on founder-led businesses, and how its "Atlas" framework drives disciplined value creation across the portfolio. Tyler also breaks down the growing importance of business development in an increasingly crowded market, where strategy, specialization, and authentic relationships win deals. This is a practical conversation on sourcing, differentiation, and building durable networks in modern private equity—press play.

Episode Highlights

2:20 - From Wyoming ranch to Argentina: a nontraditional start that shaped his career
7:09 - Why unique life experiences create an edge in private equity relationships
11:58 - A serious ski accident and the perspective it brought to work and life
17:07 - McNally Capital's roots and focus on founder-led, family-backed businesses
23:18 - The "Atlas" framework for structured, end-to-end value creation
27:32 - Why business development has become critical in a crowded PE landscape
30:09 - Expanding deal flow through proactive outreach and market coverage
35:38 - Building and maintaining a network as the foundation of long-term success

For more on McNally Capital, visit: https://mcnallycapital.com/ For more information on Tyler Ashley, go to https://www.linkedin.com/in/tylerwashley/

Private Equity in 2026: AI, Deal Slowdowns, and What Comes Next Apr 22, 2026

Show notes

Sean Mooney, Founder and CEO of BluWave, breaks down the firm's Q1 2026 Private Equity Insights Report and what it signals for investors and operators navigating a volatile environment. He outlines how geopolitical shocks are once again stalling deal activity, why the economy remains surprisingly resilient, and how private equity firms are leaning harder into value creation. Sean also explains the shift of AI from buzzword to real execution—and why data readiness is now a competitive imperative. This is a clear-eyed view of the current market and where private equity leaders should focus next—hit play.

Episode Highlights

1:15 - "Groundhog Day" returns as geopolitical shocks stall deal momentum
3:20 - Why sellers pause deals: the need for 4–6 months of visibility
5:30 - Economic resilience despite inflation, tariffs, and uncertainty
7:10 - PE firms increase focus on value creation during market slowdowns
10:30 - AI demand surges 280% as firms move from experimentation to execution
16:10 - Data readiness becomes the defining advantage in AI adoption
23:20 - Why deal activity must rebound: liquidity pressure and dry powder

For more on BluWave, visit: https://www.bluwave.net/ To request the full Q4 2025 Insights Report, visit: https://www.bluwave.net/insights-report/

Private Equity Value Creation: Building Teams That Win with Jim Murphy Apr 08, 2026

Show notes

Jim Murphy, Senior Managing Director at LLR Partners, shares his path from CFO and COO roles into leading value creation across a lower middle market private equity portfolio. Drawing on decades of operating experience, he explains how firms identify scalable businesses, assess management teams, and execute disciplined growth plans. Jim also outlines LLR's functional approach to value creation, including operational excellence, ideal customer targeting, and retention strategies that drive outcomes. This is a practical look at what separates good companies from great ones in private equity—hit play. Episode Highlights

2:15 - Starting in public accounting and the path into a CFO career
11:10 - Becoming a public company CFO at 29 and learning in real time
18:45 - What private equity looks for: market size, product fit, and team
21:30 - Why management quality is the single biggest driver of outcomes
27:40 - Building a functional value creation team with real operators
33:10 - Operational excellence: uncovering hidden cost and margin opportunities
37:45 - Ideal customer profiles and retention as drivers of durable growth

For more on LLR Partners, visit: https://www.llrpartners.com/ For more information on Jim Murphy, go to https://www.linkedin.com/in/james-murphy-59097b5/

Private Equity, Alignment, and Durable Value Creation Mar 25, 2026

Show notes

Brett Holcomb, Partner at Prospect Partners, shares the experiences that shaped his approach to lower middle-market private equity—from swimming-driven grit and early career missteps to navigating COVID with a portfolio company built on human trust. He explains Prospect's "better, not just bigger" philosophy, why foundation-building matters more than speed, and how servant leadership earns premium outcomes. Brett also reflects on pricing strategy, data-driven decision-making, and the leap-of-faith judgment calls every investor must make. This is a candid conversation on resilience, alignment, and long-term value creation—press play.

Episode Highlights

1:18 – Growing up around global business and finding a non-linear path into private equity
6:29 – Why competitive swimming builds the grit and self-motivation PE demands
10:43 – The COVID shock at Wedgewood and setting a clear North Star under pressure
14:13 – Over-communicating with teams and customers when everything shuts down
18:29 – Breaking massive problems into solvable components during crisis
30:31 – "Better, not just bigger": Prospect's foundation-first value creation model
37:46 – Pricing strategy as an offensive weapon in volatile markets
46:49 – The leap-of-faith decisions that define private equity careers

For more on Prospect Partners, visit: https://prospect-partners.com/ For more information on Brett Holcomb, go to https://www.linkedin.com/in/brett-holcomb-885ba31/

Top Private Equity Innovator of the Year 2026: Bertram Capital with Jeff Drazan Mar 14, 2026

Show notes

Jeff Drazan, Managing Partner at Bertram Capital and BluWave's 2026 Private Equity Innovator of the Year, explains how a technology-first operating model reshaped his transition from venture capital to private equity and became a durable competitive advantage. He details how Bertram Labs embeds software, data, and digital execution directly into diligence and value creation—well before the deal closes. Jeff also shares the investment principles that matter most today: large markets, strong margins, and customer trust. This episode lays out what modern private equity innovation actually looks like—hit play.

Episode Highlights:

1:18 – From Princeton engineering and Bell Labs to venture capital on the West Coast
6:05 – Treating early career roles as paid fellowships, not permanent destinations
14:37 – Why technology was the missing link in traditional private equity models
16:25 – Founding Bertram Capital to bring digital transformation to lower-tech businesses
21:06 – Inside Bertram Labs: in-house software, data, and execution—not just advice
27:14 – Winning deals by fixing problems during diligence, not after closing
33:39 – The two non-negotiables: large TAMs and meaningful gross margins
48:45 – Why continuous innovation is the only sustainable edge in private equity

To learn more about Bertram Capital, visit https://www.bertramcapital.com/

For details on BluWave's 2026 Top Private Equity Innovator Awards and Bertram Capital's recognition, visit www.bluwave.net/awards

To discover more about Jeff Drazan, visit https://www.linkedin.com/in/jeffdrazan

Mark Langer on Grit, Judgment, and Long-Term Business Building Feb 25, 2026

Show notes

Mark Langer, Managing Director at CenterOak Partners, reflects on the experiences that shaped his approach to private equity—from early grit and middle-market investing to deploying capital in Africa and building enduring CEO partnerships. He explains why servant leadership, trust, and long-term thinking matter more than control in lower middle-market value creation. Mark also shares candid lessons on risk-taking, mistakes, and navigating the non-linear reality of business building. This is a grounded, hard-earned perspective from someone who has seen the full arc of private equity—hit play.

Episode Highlights

2:01 – Early lessons in grit, work ethic, and "figure it out" resilience
6:02 – Breaking into middle-market investing after 9/11 and choosing the hard path
12:05 – Being sent to deploy capital in Africa—and learning fast under pressure
17:26 – Why CEO trust and long-term relationships matter more than control
19:32 – Reining in chaos in the lower middle market without killing momentum
25:34 – When investments go sideways and how real value gets created anyway
30:10 – Advice to younger investors: take risks, make mistakes, and think longer term

For more information on CenterOak Partners, go to https://centeroakpartners.com/ For more information on Mark Langer, go to https://www.linkedin.com/in/mark-langer-006a02ba

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