Ania Aliev, a 27-year-old MBA graduate from Dartmouth College, was in the final stages of buying a company and becoming its CEO while staying in a hospital bed in late 2023. She had recently given birth to a boy and was waiting for his induction into the world. Just three months later, she became the owner and CEO of Life Support Systems, a medical equipment company based in Massachusetts. This path—where young graduates buy established businesses and take on leadership roles—is known as entrepreneurship by acquisition, or "search-fund investing." In this model, individuals raise capital to purchase companies and manage them, often aiming for growth and high returns. According to a 2023 report, a record 94 search funds were launched in the U.S. in 2022 and 2023, with over $682 million invested in these funds and the businesses they acquired. Investment firms like Search Fund Partners, Aspect Investors, and Anacapa Partners support these initiatives, drawn by the potential for strong financial returns. These funds help young entrepreneurs raise the necessary capital to buy and run companies, often in industries ranging from technology to manufacturing. Aliev, who previously worked in finance, was aware of the challenges of being a young leader. Rather than making immediate changes, she focused on learning from her team and observing the business closely. Her cautious approach led to growth, including the acquisition of a competitor that doubled the size of Life Support Systems. However, the company also experienced some turnover, with a few employees leaving and others being let go as the business shifted toward expansion. Not all young entrepreneurs succeed in this model. Scott Duncan, a Harvard MBA graduate who took over F&M Tool and Die in 2018, faced significant challenges. Despite his initial confidence, the business struggled with employee departures, competition, and operational issues, ultimately leading to its closure in 2025. Now a consultant, Duncan acknowledges the difficulty of such ventures and advises young entrepreneurs to approach them with caution. Leadership coach Jacqueline Ackerman suggests that employees often resist uncertainty rather than the age of their leader. For Aliev, now 30, the role as CEO has proven more fulfilling than her previous career in finance. While the path of entrepreneurship by acquisition can be challenging, it continues to attract young graduates looking to build their careers through business ownership.