BluWave's Karma School of Business

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155

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Oct 2026

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About the show

Welcome to BluWave's Karma School of Business, hosted by Sean Mooney, the Founder & CEO of BluWave, an intelligent B2B marketplace serving the world's top business builders. As you listen, you'll learn insights and best practices from leading and influential private equity professionals, visionary business executives, and one-of-a-kind industry thought leaders who will help you take meaningful action, improve your business, and enhance your life. To learn more, visit: https://bit.ly/3oPBjs8

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60 recent

October 21, 2026Episode 15537 min

Private Equity in Q3 2026: Holds Stretch as the Deal Market Waits

Sean Mooney, Founder and CEO of BluWave, breaks down BluWave's Q3 2026 Private Equity Insights Report: a market that stretched hold periods and portfolios that kept building. He explains why fewer deals reached full diligence, why value creation held at 84% of all BluWave activity, and why demand for interim executives grew while recruiting lagged. AI advisory demand climbed 175% year over year (YoY), with industrial services leading the way. Sean also gives a Q3 update on BluWave's 2026 predictions and shares how to play each one to win. His read on deals: delayed, not derailed. For PE leaders deciding where to act while the deal market waits, it's the quarter's data and the next move in one listen. Episode Highlights 1:00 – Hold periods stretch again as fewer deals reach full diligence 3:00 – Why the deal market paused: Middle East conflict, oil-driven inflation, AI uncertainty, and midterm elections 5:00 – Reading the backdrop: U.S. gross domestic product tracking at 3.6% per the Federal Reserve Bank of Atlanta's GDPNow, and a strengthening manufacturing sector 9:00 – Deal flow rose and the mix shifted toward B and B-minus companies, where PE has traditionally created the most value 12:00 – Private Equity Priority (PEP) Index: profitability led growth in three of the last five quarters 15:00 – Value creation held at 84% of activity and due diligence at 16%, compared with 70% and 30% in Q3 2025 19:00 – Interim executive demand grew while recruiting lagged: a late-hold approach to the C-suite 20:00 – Technology rose to 25% of BluWave projects from 18% in Q3 2025, and AI advisor demand grew 175% YoY 21:00 – The surprise: industrial and industrial services led AI demand 25:00 – Software selection and implementation demand grew 114% YoY, and why fixing a stalled implementation beats replacing it 27:00 – Why the deal resurgence is delayed, not derailed, and how to phase-gate diligence scopes as deals return 31:00 – Data demand grew 133% YoY, and why the early AI winners put data first For more on BluWave, visit: https://www.bluwave.net/ To request the full Q3 2026 Insights Report, visit: https://bluwave.net/resources/insights-report

October 7, 2026Episode 15442 min

Private Equity Software Investing with Adi Filipovic

Adi Filipovic, Managing Director at Resurgens Technology Partners, joins Sean Mooney to discuss his path from Bosnia to Georgia, football to finance, and ultimately into private equity software investing. He shares how mentorship, resilience, and a commitment to operational excellence shaped his career and the way Resurgens partners with software companies. Adi also explains why the software deal market has slowed, how AI is changing investor behavior, and where real value creation may emerge as firms separate hype from durable ROI. This is a grounded conversation on software, resilience, and building value through uncertainty—hit play. Episode Highlights 1:20 – Adi's journey from Bosnia to Augusta, Georgia as a refugee 2:46 – Playing college football at Furman and finding discipline through sports 5:45 – A random networking meeting that led to HIG Capital and private equity 10:22 – Why Adi tells young professionals to optimize for great people 14:29 – Resilience, discomfort, and the hard moments that shape a career 20:13 – How Resurgens integrates operators, talent, and value creation resources 25:38 – Why the software deal market is slower amid AI disruption and uncertainty 35:43 – Adi's book recommendation: behavioral economics and better decision-making For more on Resurgens, visit Resurgenstech.com For more on Adi Filipovic, visit https://www.linkedin.com/in/adifilipovic/

September 23, 2026Episode 15333 min

BluWave at 10: A Private Equity Founder's Origin Story

In a rare introspective episode, Sean Mooney, Founder and CEO of BluWave, marks the company's 10th anniversary with the full origin story — from Austin and 120-hour investment-banking weeks, into private equity, to the Ratatouille moment that convinced him to walk away from a partner's seat and build something new. He tells how BluWave nearly died in its first year, how asking friends and customers for help turned it around, and how bootstrapping plus a one-of-one dataset and homegrown AI built before ChatGPT sent the flywheel spinning. Along the way he shares the lessons that stuck: values and people both matter ('and,' not 'or'), speed and agility are non-negotiable, and to drink your own Kool-Aid. It's a candid, hard-won founder's story, and a preview of where BluWave goes next. Press play. Episode Highlights: 3:15 - Austin roots, 120-hour investment-banking weeks, and "experience in dog years" 9:20 - How private equity forced a shift from architects to engineers to general contractors 12:10 - The $3,000-an-hour problem that became BluWave: an "Amazon meets Gartner" for business building 15:00 - The Ratatouille moment (and the Bumbys' "utterly honest read") that pushed Sean to leave PE 19:30 - Nearly shutting down in year one — and the two questions that turned it around 25:10 - Speed and agility, taught by a John Cusack ski scene: fall, dust off, keep going 29:00 - Where BluWave goes next, and the "make two groups successful" North Star For more on BluWave, visit https://www.bluwave.net/

September 16, 2026Episode 15241 min

Building Better Leaders in Private Equity with Ann McCloskey

Ann McCloskey, Managing Director at Accel-KKR, joins Sean Mooney for the human side of private equity value creation — the part no amount of AI replaces. From accounting and organizational development into one of PE's founding operations teams at Vista, Ann breaks down the leadership traits she screens for (self-awareness first), why acting on talent faster is every CEO's biggest regret, and how Accel-KKR's Base Camp, Ascend, and Peak programs turn functional experts into real leaders. She gets practical on feedback that actually lands, why a message needs repeating 21 times to stick, and leading people like "fully functioning adults" through constant change. A candid, genuinely useful conversation on the craft of developing people. Episode Highlights: 1:20 - From accounting and org development to a front-row seat on Vista's founding ops team 9:55 - The leadership traits Ann screens for first — starting with self-awareness 17:00 - Why "act on talent faster" is every CEO's biggest regret, and how to know it's time 20:10 - Inside Accel-KKR's Base Camp, Ascend, and Peak leadership programs 24:30 - Feedback that lands: the "spinach in the teeth" rule and why half of it is about you 28:10 - Why a message now takes 21 repetitions to stick, and the "chief repeater" job of a leader 36:10 - The dead-simple travel habit that killed Ann's jet lag for good For more on Accel-KKR, visit https://www.accel-kkr.com/ For more on Ann McCloskey, visit https://www.linkedin.com/in/ann-mccloskey-a504b66/

September 2, 2026Episode 15142 min

Private Equity's People-and-Growth Playbook with Carr Preston

Carr Preston, Managing Director at Akoya Capital, joins Sean Mooney to discuss how leadership, partnership, and commercial discipline shape successful private equity investments. He shares how Akoya evaluates founder- and family-owned businesses, including the importance of a strong CEO, a clear economic model, scalable sales motion, and the right cultural fit. Carr also explains how Akoya's thesis-driven, operating-centric approach helps companies professionalize, grow revenue, and focus on the few priorities that matter most. This is a practical conversation on building value through people, focus, and disciplined execution—hit play. Episode Highlights 1:00 - Carr's path from San Francisco to Morehouse, law school, business school, and private equity 4:00 - How a JD/MBA perspective helps with deal structure, diligence, and negotiation 6:33 - Learning investing fundamentals at Allied Capital during a formative period in PE 10:48 - Carr's Prince concert streak and the music that shaped different chapters of life 14:42 - What Akoya looks for in leadership, strategy, execution, and business model quality 20:00 - Evaluating management teams through decision-making, trust, communication, and plant tours 24:42 - Akoya's operating-centric approach to value creation before and after close 29:20 - Why sales and business development are major levers for lower-middle-market growth For more on Akoya Capital, visit https://akoyacapital.com/ For more on Carr Preston, visit: linkedin.com/in/carr-preston-01499b18

August 19, 2026Episode 15044 min

Private Equity Value Creation with Clarion's Jon Haas

Jon Haas, Managing Director of Portfolio Transformation at Clarion Capital, joins Sean Mooney to discuss how private equity value creation has evolved from a differentiator into the core of the business. He shares Clarion's approach to founder-led companies, operational improvement, digital transformation, AI, and the balance between standardized playbooks and customized support. Jon also explains why firms need to distinguish between a broken thesis and a difficult period, and why intelligent risk-taking still matters in an industry under pressure to avoid downside. This is a thoughtful conversation on conviction, adaptability, and building better companies after the deal closes—hit play. Episode Highlights 2:00 - Early exposure to private equity through family connections and portfolio company boards 3:39 - A nonlinear path through consulting, banking, and Clarion's early days 6:49 - Building Clarion after IMAX disruption changed the original fundraising plan 13:15 - A collections investment tests Clarion's conviction through COVID and leadership change 20:38 - Why value creation has become the business of private equity 22:03 - Clarion's eight focus areas for portfolio transformation and value creation 27:24 - The tension between LP expectations, downside protection, and differentiated returns 33:10 - Jon's book recommendation and the lesson behind intelligent risk-taking For more on Clarion Capital, visit https://www.clarion-capital.com/ For more on Jon Haas, visit: linkedin.com/in/jonathan-haas-75856431

August 5, 2026Episode 14945 min

Private Equity Deal Sourcing with Audax's Dave Santoni

Episode Description Dave Santoni, Managing Director at Audax Private Equity, joins Sean Mooney to discuss how decades in investment banking shaped his approach to sponsor coverage, business development, and private equity. He shares what Audax looks for in niche market leaders, how the firm uses industry mapping and add-on acquisitions to build stronger businesses, and why preparation before a process can create real edge. Dave also explains how Audax is using AI across sourcing, diligence, portfolio support, and exits without losing sight of relationships and curiosity. This is a sharp look at how modern private equity firms win before the book ever hits the inbox—hit play. Episode Highlights 2:00 - Dave's path from Philadelphia and Omaha to law school, banking, and Audax 6:31 - Why Audax felt like the right next chapter after decades of deal work 10:19 - Coaching youth basketball and the lasting pull of sports, teams, and leadership 13:28 - What Audax looks for in niche market leaders across its core verticals 16:16 - Using add-on acquisitions to expand markets, customers, and capabilities 21:48 - How Audax maps industries before ownership to accelerate add-on activity 28:00 - AI becomes a major value creation priority across the firm and portfolio 39:39 - Dave's advice to his younger self: be more curious, earlier For more on Audax Private Equity, visit https://www.audaxprivateequity.com/ For more on David Santoni, visit: https://www.linkedin.com/in/dsantoni/

July 22, 2026Episode 14828 min

Private Equity in Q2 2026: Deals Stall as Value Creation Peaks

Sean Mooney, Founder and CEO of BluWave, breaks down BluWave's Q2 2026 Private Equity Insights Report and what it signals for the second half of the year. He explains why renewed geopolitical volatility stalled due diligence to an all-time low, how PE firms responded by pushing value creation to a record 84% of activity, and why AI advisory demand continues to surge across the industry. Sean also revisits BluWave's 2026 predictions on deal flow, growth, software selection, industrialization, and the widening gap between AI adopters and laggards. For PE leaders deciding where to place their bets this year, it's the quarter's playbook in one sitting — press play. Episode Highlights 1:08 – Why BluWave's project data mirrors where private equity is actually spending time 3:45 – Geopolitical disruption stalls new deal activity for the second straight year 5:51 – Due diligence drops to 16% as value creation hits an all-time high 6:30 – AI advisory services surge 193% year over year in PE 7:20 – Reading the macro backdrop: manufacturing PMI, tight credit spreads, and a resilient consumer 13:10 – Why extended holds are driving a surge in interim, PE-grade executives 23:31 – The case for adopting AI now, before the gap between winners and laggards widens For more on BluWave, visit: https://www.bluwave.net/ To request the full Q2 2026 Insights Report, visit: https://bluwave.net/resources/insights-report

July 1, 2026Episode 14737 min

Private Equity Growth Levers for Founder-Led Businesses with Tim Billings

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/

June 17, 2026Episode 14657 min

Private Equity and AI Execution in the Portfolio

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

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