Most founders won't give up 80% of their business. The ones who did walked away with more than if they'd kept 100%.

Murray Schnuriger made the jump from 20 years advising founders on exits to actually owning the risk at 5V Capital, a mid-market PE fund across Australia and New Zealand. Toby King has spent his career at Cameron Partners, one of NZ's most established M&A firms, allied with Rothschild and Company. Together they've sat on both sides of more NZ business exits than almost anyone alive.

The Education Perfect story is the one that sticks. Two brothers built an edtech platform into 50% of NZ secondary schools, hit their ceiling, and sold 80% to 5V. One went backpacking for a year. 5V brought in a new CEO, put sales teams on the ground in Australia, and tripled the business in three years. Exit to KKR. The 20% the brothers  ...