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  • Sahana Inteti

Internship Reflections and Q&A - Summer 2023







Sahana Inteti


I joined 37th and Moss to learn more about finance and the different paths I could take in the industry. Joining a small company like 37th and Moss felt like a great place to start because I could have a more well-rounded understanding of multiple roles, rather than learning in-depth for one role. 37th and Moss gave me the opportunity to gain a lot of hands-on experience as well as learn fundamentals that will serve me well throughout my career.


Why a Search Fund?


A Search Fund is a unique and relatively new investment vehicle. It requires the searchers to become management, as either the CEO or CFO, after acquiring the company. I love this concept because it is entrepreneurial and personal. Both John and Nick are passionate entrepreneurs who are looking for companies that fit their values and interests. This made the sourcing process very intentional and thoughtful.


What was your role?


My time was filled by three main roles: sourcing, web design, and learning. On the sourcing side, I would sift through hundreds of companies in various industries to curate lists. I looked at willingness to sell, owner involvement, location, company performance, company size, asset-light vs. asset-based, etc. Then, I organized the companies by industry and location. The sourcing process exposed me to a variety of industries and companies, and I got familiar with asset-light businesses in the freight and logistics space. I learned what to look for when evaluating a company and how that aligns with 37th and Moss.


Since 37th and Moss launched July 10th and I started on May 20th, I got to see the company through its setting up stage. When John and Nick approached me with the opportunity to edit the website, I jumped on it because I love aesthetics and branding. I ended up designing the website, and making it scalable because I knew they were interested in posting content in the future.


Lastly, I was a student, and I met with John and Nick every week to learn finance fundamentals. The topics ranged from Value or Cash Flow to Financial Modeling. Although some of these topics were not related to search, John and Nick believed that they would serve me well throughout my career in finance. The internship culminated in a Capstone project that merged topics like financial modeling with my understanding of the freight industry. I analyzed J.B. Hunt and presented an investment thesis to the team through a paper and verbal presentation.


What is different about 37th and Moss?


John and Nick’s open-mindedness and entrepreneurial spirit is what sets 37th and Moss apart. They are passionate about learning, and they are open to speaking with anyone related to freight or search, regardless of whether the conversation will end in a deal or not. In addition, they are stepping outside the regular search fund structure to differentiate themselves. By creating a blog, they are helping business owners and creating engagement. Finally, the choice of hiring an intern was a huge task for 37th and Moss. It required John and Nick to create a curriculum, train me, and meet with me. For them to set aside time for me during the beginning stages of 37th and Moss was risky, but I hope it provided value to the company.


What would you change about your internship experience?


Internships are to learn, which seems obvious, but I was worried that I would slow the team down and not provide much value. I think my value came from my willingness to learn, so I wish I was more proactive and asked more questions. However, I know that John and Nick will continue to be mentors to me, so I will continue to message them for advice!


Additionally, I could have communicated more effectively, especially since the role was remote. For example, I could have sent updates on my progress or send ideas, rather than waiting for a weekly meeting


Final Thoughts


In conclusion, I learned so much about finance, entrepreneurship, and drive. I learned that being vulnerable as a beginner is important, in order to learn, and I will continue to work on this skill. My internship has been a great opportunity to apply my classroom knowledge. I wish John and Nick so much success, and I cannot wait to see what 37th and Moss accomplishes in the future!




 

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