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- ICYMI 🦄 Exits Are Back Besties, The Only M&A Menu You Need to Understand, What Rich Gen Zs & Millennials Don't Want & Uber Accomplished What Postmates Never Could...
ICYMI 🦄 Exits Are Back Besties, The Only M&A Menu You Need to Understand, What Rich Gen Zs & Millennials Don't Want & Uber Accomplished What Postmates Never Could...
The only Startup & Investor Newsletter you need to become smarter in 15 Mins or Less Each Week
Issue Highlights
THIS WEEKS MANTRAS
I read a line in a newsletter that said “Everything is better when no one knows what the fuck you’re doing” and I’ve never felt so seen. That’s exactly the energy I’m in right now.
And yet… here I am, still showing up to write this for you.
It is giving Duality, babes LMAO. Because yes, there’s real power in moving in silence (my inner kamikaze spy is THRIVING), but I also know that without voices in the space, especially women’s…nothing changes. We don’t close the $31 trillion wealth gap if we all stay quiet.
Some days I want to post nothing, share nothing, and just stack moves in private. Other days I’m like….no, this is the work, this is the content that brings more women into M&A, PE, and fundraising conversations because Without it, who fills the gap? So I’ve landed in this season of doing both…part silent operator, part loud storyteller.
Half in public, half off the grid.
And Honestly? For right now…It feels like the right rhythm.
Speaking of rhythm, let me confess…I’ve been deep in my house rotting era.
Picture me, hammock, sun, laptop, hours slipping by.
It sounds absolutely Gorgeous on paper, yes, but it is also giving rat girl summer. So I’ve been forcing myself out of the house, into cafés, wine bars, anywhere I can feel the pulse of the city. My latest obsession is Tilda’s Bar in Sydney. It’s basically an investment banker watering hole, which means I get to sit there, people-watch the dealmakers, and pretend I’m in my Sex and the City finance era before heading home to do bath time with the kids. Perfect balance, honestly.
And balance is the theme, because next week I’m flying to NYC for the Maison Summit. Which means lots of pre-networking, lining up investor chats, and basically giving myself permission to play shark in the city again.
Until then, I’m filling the days with journaling (shockingly consistent journaling?? who am I). And wow, my brain feels so alive again. In a world that wants us numb and scrolling, putting pen to paper feels like the most rebellious thing I can do.
While drifting this week, I ran into:
♡ Tilda’s Bar, Sydney: I already mentioned it, but truly, it’s giving IB boys, dirty martinis, and “take notes quietly in the corner while they spill deal gossip.” Obsessed.
♡ Maison Summit prep: the group chat is HOT, the dinner lists are hotter, and it’s reminding me why these events matter…deals don’t get done in your Google Docs, they get done over cocktails.
♡ My journal: weird flex, but it’s the MVP. Pages and pages of ideas that never would’ve survived in a Notes app graveyard. Creativity feels sharper than ever.
♡ Rat girl summer walks: breaking up my house rot streak by walking the city like I’m in my twenties again, earbuds in, plotting my next acquisition like it’s a crush. ( Fun fact, I am still in my twenties but my life is like I am in my 50s with kids )
Source @pinterest
🤍 Why Australia Needs an SBA-Style Loan Program (and why you should care) 🤍
In the U.S., if you want to buy a small business, you don’t need to be a billionaire or sit on a pile of real estate. The Small Business Administration (SBA) has your back. Their loan guarantee program means regular entrepreneurs, people like us, can get up to 90% of the funding needed to acquire a business, backed by the government.
I mean, results from programs like this are INSANE, In 2024 alone, the SBA helped fund more than 103,000 small business acquisitions, unlocking over $56 billion in lending.
Aussie Banks Arguments for not wanting to fund initiatives like this comes back to Default rates, but the data in the USA contradicts banks fears…The default rates within the SBA Programs were Shockingly low, Because buyers are acquiring real, cash-flowing businesses that can actually service the debt.
For every $1M lent, the SBA estimates 3–3.5 jobs are created within three years.
….It might not be perfect, but it is a damn good step in the right direction.
Now, let’s talk about Australia 🇦🇺
Here, banks basically laugh you out of the room if you try to buy a business without:
A stack of property assets to secure the loan, OR
A willingness to pay absurdly high interest rates.
This basically means that if you don’t already come from wealth, buying a business feels nearly impossible.
And yet, thousands of profitable, well-run small businesses will be coming up for sale in the next decade (thanks to retiring Baby Boomer owners)….
These businesses deserve to stay alive, with new owners, fresh energy, and continued jobs for their employees.
But right now, the next generation of Aussie founders is blocked out by lack of funding access.
Why this matters for you, me, and every ambitious woman we know
Lack of M&A activity has less to do with lack of ambition and more to do with Lack of Access. Right now, only people with property wealth get to buy into ownership. Everyone else is locked out. Unfortunately, with the cost of property, alot of the HNWI I know, have chosen to Segway property investments for other investment opportunities with greater upside….So it’s not that these founders cannot leverage the loan off their own assets & investments, the issue is that their investments are flagged as “safe” or “secure” enough.
Initiatives like this are about generational wealth. If you can’t access loans, you can’t step into ownership, which means you can’t build equity, create jobs, or change your family’s financial trajectory….All really important things we need to do to be able to fill the gap in global economies and step into places of power and true influence.
SBA Programs are about the values we hold in Australia ie. Community and Supporting Small Businesses… These programs allow us to keep small business alive. Without easier funding, many of these businesses will shut down instead of transitioning to new owners. That hurts the economy and our communities. M&A is such a SIGNIFICANT driver of powerful economies and if Australia doesn’t start to catch up, they will fall severely behind. There is also again, an important undercurrent conversation here around the fact that not all deals need cash up front, but it certainly helps every day Aussies close better deals!
Above all else…It’s about equity. The petition explicitly calls for support for women, Indigenous Australians, and regional entrepreneurs…the exact groups most often excluded from capital markets. I don’t think I need to say anything more around this.
✍️ The Petition
There’s a live petition right now asking Parliament to create a government-backed loan guarantee scheme for business buyers, think “Home Guarantee Scheme” but for business ownership.
It would mean:
Up to 80% loan-to-value lending for approved acquisitions
A government guarantee to reduce lender risk
Streamlined applications through major banks
Targeted support for women, Indigenous, and regional founders
We’ve got less than two weeks to rally signatures.
Because ownership shouldn’t just belong to those who already have assets.
It should belong to those ready to build, lead, and grow.

🤍 EXCUSE ME SIR.™ PODCAST 🤍
🎀Excuse Me SIR. Podcast Is Looking for Guests 🎀
Excuse Me SIR. Podcast Is Currently Looking for our Next Guests!! If you have Bought, Sold, Invested in business, Successfully Fundraised or Just built a Really Awesome Business to Multi 7,8 & 9 Figures… We want to share your story.

💋Exits Are Back Besties | 2025’s Expansion Stage Boom ( And What it Means For You )…
TL;DR for the scroll-happy:
IPOs have reopened. M&A is hungry. Valuations are Starting to Rebound and By mid-2025, exit value already beat all of 2024. Translation for the girlies…This basically means that great companies aren’t just raising…they’re getting bought or going public (fast.) And yes, selling is an option (including partial exits). Let’s break it down in girl-talk, with operator receipts.
For the last few years (2022–2024), founders were stuck in what I call the “waiting room era”, markets were messy, interest rates were high, and nobody wanted to touch an IPO unless it was the next coming of Beyoncé LMAOO anyway, because of all of this, Deals were slow, valuations felt flat, and everyone just kept their companies private hoping the vibes would eventually shift. Fast forward to 2025? The window finally blew open. We’re talking IPOs actually landing again (13 already this year versus just 8 in all of 2024), and M&A deals basically doubling in value.
And the momentum isn’t just U.S.-only. Canada’s posting 70% higher M&A values year-over-year, Australia’s IPO pipeline is finally stirring after being in a coma, and global buyers , from PE funds to big corporates are back at the table with actual appetite.
Why?
Stock markets are bullish again, interest rates are calming down, and AI hype is sprinkling fairy dust on any company even remotely adjacent to tech. Suddenly, expansion-stage companies that spent years quietly building are being wooed like they’re the hottest girl in the room.
Here’s the plot twist most founders don’t realize…a ton of these companies aren’t even “done.”
They didn’t exit because they ran out of ideas or gas. ( Which is the usual assumption )
They’re exiting because Buyers are SLOWLY but surely willing to pay premiums for the right businesses, IPOs are getting traction, and investors who’ve been starved for liquidity since the last boom are able to borrow once again.
So basically in girl code, Expansion Stage/Growth Stage Companies are exiting ( selling ) or Going Public Fast than they have been over the last few years because market conditions are allowing for it, and this has alot to do you with as a founder who could potentially sell her business OR as someone wanting to make an acquisition over the next 6 - 24 months.
Now that you understand market context…Let’s Talk about what being an “Expansion Stage” Company Really Means.
Early-stage startups are all vibe, no receipts, They have got a dream and a deck, but no proof. On the flip side, late-stage giants can feel too expensive, too bureaucratic & too slow to be fun.
But Expansion/Growth stage? That’s the sweet spot.
You are usually lower mid market to Mid-cap, You’ve got receipts (real customers, real money flowing in), but you’re still young enough to be exciting, scrappy, and flexible.
You’re not locked into corporate sludge yet.
And guess who loves that energy?
Strategics like Me and private equity.
Corporate Players Inc. PR Firms, Legacy fashion houses or even tech titans, see you as the shortcut. And You can be the shortcut to many things, Geographic Expansion, Tech Advancement, the list goes on.
And I get your confusion, why would these companies with all of the money and resources in the world, need you? Well…
Instead of spending years building their own thing, they can buy yours and instantly plug in your community, your tech, your IP, Your customers, Your partners….RIGHT into their business. Private equity firms have raised billions (“dry powder” is the Wall Street term) and they need to deploy it to ventures that are going to 5-10x the growth or capability of their portfolio.
Expansion-stage companies with clean books and momentum are like catnip to them ( and maybe you, if you are looking to potentially grow through acquisition as well )
This is why so many exits are happening faster in 2025.
Founders in that growth zone are suddenly getting texts, DMs, and very expensive steak dinner invites from both strategics and PE.
The deals might feel “early” compared to the old playbook of staying private forever, but in this market, expansion-stage is exactly where you’re most attractive.
So, quick self-check, you might be in the expansion-stage “hot zone” if:
You’ve got real, repeat customers (not just friends & family).
You’re making money, maybe not at wild margins yet, but revenue is flowing.
Growth is the focus, you’re pouring into marketing, sales, hiring, or expansion.
You’ve raised Series A/B/C money or are profitably bootstrapped and scaling.
You’re on the radar of bigger players (strategics want your tech, customers, or IP; PE wants to roll you into something larger).
Why should all of this matter to you…
If you’re a founder in growth mode, this matters because suddenly selling is on the table. You don’t have to wait until you’re running a billion-dollar empire to think about an exit.
In fact, expansion stage is often when you’re most attractive…you’ve got proof, you’ve got momentum, and buyers are finally willing to pay up.
If you’re a founder who wants to buy, this is your moment too.
More businesses are hitting the market (and not just distressed ones either). You could pick up a company that accelerates your roadmap, plugs into your ecosystem, or instantly expands your customer base.
Of course, it also means more competition for the best deals, so being prepared to move fast is everything.
Basically: this isn’t just a finance-nerd headline... It’s your invitation to start playing bigger and finally start being apart of the boardroom conversations the top 1% are having.
Let’s break down what this boom actually means depending on which side of the table you’re sitting on.
FOR SELLERS…Let’s Start by Rewriting Exit Narrative.
Contrary to what you might have been led to believe, selling isn’t failure.
Especially for women.
We grew up with this idea that your only two options were
(1) grind yourself into the ground forever, or
(2) shut it all down and call it quits.
But that’s not the full story.
NOR is it a story that is going to fix the 31 Trillion Dollar Gap in Global Economies, the $36 Billion Dollar Credit Gap or the 98% Funding gap for women…
Exiting is absolutely on the menu and it’s not just about walking away…
You can sell a piece, sell the whole thing, or take it public.
You can write your own ending.
And honestly? That’s power. That’s leverage.
Another thing they don’t tell you is that the best time to sell is often when everything is going right!!! Everyone thinks you sell a business when shit is hitting the fan, but it couldn’t be more opposite.
Too many founders, especially women, wait until they’re exhausted, burnt out, or out of cash before they start thinking about exits.
But if you’re in that sweet expansion stage right now? This might actually be the prime moment to lock in a win.
So let’s talk about the girl math of why founders say “yes” to exiting at the growth stage:
✨ The Girl Math of an Exit (Why Founders Say Yes)
Timing > perfection → If the market wants you today, don’t wait around for “someday.” A premium offer now beats a maybe later.
Fuel vs. fatigue → Scaling often means raising another $50M, hiring 50 more people, or being CEO + HR + sales rep + customer support. If you’re feeling stretched thin, a sale or IPO isn’t giving up, It quite literally means giving the company the capital, resources, networks and teams it needs to start leveling up.
De-risk your life → Most founders have their entire net worth tied up in their business. A (partial) exit = cash in hand, mortgages paid, kids’ futures secured. You finally get to pay yourself back for years of grinding while retaining the upside of the companies growth.
And last but not least…Role fit → Some women are born to build, not to manage 500 employees and board meetings. Selling doesn’t mean you failed, To me, it means you graduated. You created value, you proved it works, and now you get to decide if you want to keep being the operator or move into your next chapter.
And because it’s not just if you sell but how you sell, here’s your à la carte menu:
Menu of Exits (Pick Your Plate)
Full Sale (100%) → You cash out completely. Hand over the keys, secure the bag, focus on legacy or your next adventure.
Majority Recap (51–80%) → You take a life-changing wire now, but keep a juicy minority stake. Let a bigger player scale it, while you still share in the upside.
Minority Sale / Growth Round → You’re not done, but you’d like to take some chips off the table and bring in capital (and maybe expertise) to fuel expansion, all while keeping control.
IPO → The public markets are open, valuations are high, and your business is mature enough to handle quarterly earnings calls. It’s not for the faint of heart, but if you love the spotlight, this is the stage.
FOR BUYERS…Let’s Talk About Why This Is Your Window.
When we hear “exit activity is heating up,” most founders assume that’s just a signal for people who are ready to sell. But the flip side is just as important because every time someone exits, it means there’s a business available for you to buy.
And right now?
There are more good companies hitting the market than we’ve seen in years.
What’s different about 2025 is that these aren’t just distressed businesses or side hustles shutting down. We’re seeing expansion-stage brands ie. like we discussed above, companies with real traction, revenue, and systems already in place deciding to sell or go public earlier than usual. For founders who are ready to grow by acquisition (or even step into ownership for the first time), this creates an unusually rich window. More options, more quality, more ways in.
And here’s where I want women especially to pay attention…so many female founders I talk to don’t even realize that buying a business is on the menu.
We’re conditioned to think the only way up is to start from scratch and grind.
But in a market like this, acquiring can actually be the smarter, faster play and women make phenomenal acquirers because we naturally lead with relationship, trust, and vision.
Those are exactly the qualities sellers are craving when deciding who to hand their legacy to.
Lets Break Down the Buy-Side Opportunities & Challenges you need to know about:
More Exits Means More Businesses to choose from → Many Strong companies are now open to being acquired whereas even just one to two years ago, this was not the case. For example, in the SMB sector, we have seen ~5% YoY growth in # of Businesses Sold & Transaction Values are Now Reporting 15% Higher. I think this also coincides with the increasing access to information, people now have access to knowledge, resources, and tools to build solid businesses inc ays that were a lot more rare a few decades ago. We also have to remember there is a wave of Baby Boomers looking to exit & retire which presents MAJORRRR turnkey opportunities for more mainstream acquisition opportunities.
Deals move fast → I want you to think of this M&A environment like the case of the chicken & the egg…Are buyers buying more quickly because of more acquisition targets becoming available? Or are more acquisition targets hitting the scene… a result & byproduct of more acquirers ready to pay? Either way…Buyers are snatching up good, profitable businesses quicker than you can blink ( ie. 3% faster this year than years previous ) \ which means It’s a competitive market with corporates, PE firms, and even first-time buyers in the mix. There are of course variables, some industries still move slower than others but we are seeing the pace speed up across the board regardless.
Prices are higher, but healthier → I know what you are going to say…How could higher valuations POSSIBLY be good for you as a investor…HAHAHA but bare with me….Valuations are up….yes ( that doesn’t mean you need to pay more in cash ) but so is business quality. Which means increased rate of success post acquisition because Many sellers spent the slowdown getting their houses in order. The key is to do your homework on valuation and not overpay in the heat of competition. If you have a solid thesis for how you’ll grow the acquired company further, paying a bit of a premium now could still yield great returns long-term.
Money is on the table again → I have been speaking about this non-stop the last few weeks and you can see why! It is the circle of life in the M&A world HAHHAHA But as the market starts to soften, Financing is more accessible (SBA loans, PE funds, seller financing) which means you don’t need to be a billion-dollar fund to play.
Shortcut to growth → Buying an expansion-stage business gives you customers, revenue, team, and systems instantly, instead of building everything from zero. However like most things that sound too good to be true….integration and post-acquisition execution are the real challenges!! This is our wheelhouse and something I am deeply passionate about! Systems, People and Culture are the heart of successful acquisitions. With all of this to say, if you choose targets wisely, this could be a game-changing period for inorganic growth.
Women as buyers → Only 5% of women ever buy or sell businesses….Hello!! This is literally the key to filling that 31 Trillion Dollar Gap In Global Economies!!! Female founders bring ssuuucchhh a unique edge when it comes to M&A, and women also possess more of the soft skills required to succeed in deal making ie. trust, long-term vision, and community-building which can make you the buyer a seller actually wants to say yes to.
The 2025 surge in exits creates a busy marketplace, For founders wanting to buy, it means more opportunities to acquire (which is great news if you’ve been waiting for the right business to come along), but also a need to be very prepared, swift, and savvy in pursuing deals.
Thing about it like Buying a a Carter Baignoire on the the luxury second/hand or vintage market…You know that watch is going to get snatched up QUICK and once you miss out, you miss out….The same principle applies here. In this seasons, there are lots of other buyers shopping and potentially outbidding you which means the best businesses will be spoken for quickly. Do your due diligence, line up your financing, and maybe most importantly, build relationships and reputation, sellers will pick buyers they trust to close the deal without hassle. If you can offer a seller speed and certainty (along with a fair price), you stand a good chance in this environment
The Bottom Line
2025 is the first real liquidity window in years. If your house is in order, you can sell the company, sell a piece, or list it, not because you’re tired, but because the market is finally paying for what you built.
Selling is not defeat. It’s a Generational Wealth Building strategy.
And on the flip side…If you want to grow bigger, faster and more powerfully than ever before, NOW is the time to start exploring potential acquisitions because again…M&A isn’t just for the finance bros….
It is the exact wealth generation strategy the girlies need to start being apart of.

🤍 Briefings They Don’t Want You To Hear that the SIR.™ Boardroom has been Gossiping About all Week 🤍
What Is Moving both the Market & Us
Female Founder World Summit Is Coming in October HERE.
Everyone thought Klarna’s IPO was going to be a train wreck and yet they continue to surprise us with their resilience with stocks climbing 15% in Trading Debut and surpassing their target! HERE.
Skincare Meets Wall Street: Byoma just got scooped up by Bansk Group who now owns a majority stake in the barrier-boosting brand HERE.
New Money Doesn’t Want Index Funds: They Want Private Deals. Rich millennials & Gen Z are shifting portfolios from stocks to startups, credit, and PE HERE.
Columbia FINALLY Bans Child Marriage HERE. Only 15 states have completely banned child marriage. Between 2000 - 2018 nearly 300k minors ( mostly girls ) legally married adult men in america.
TSS Rebrands…And I have a Controversial Take on it from a Brand & Design Lens: I HATE to be the only one to say this…But was there some HUGE Meaningful Reason Behind the Rebrand of TSS, Or did them just fall into the Trendy Colour Trap that 99% Of Businesses Fell into as well?? HERE.
McKinsey’s Report on Consumer Spend in Wellness ( $500Billion ) Sectors Backs a Major Reason behind why we Built LifeLab!! ( Check Out Lifelab HERE. ) Read More HERE.
Nudestix Stays Hush Hush as they were acquired by an “Unidentified” U.S Firm….It all sounds oh so mysterious and I cannot wait for more details to drop HERE.
Beauty on Demand: Sephora just pulled up on Uber Eats… yes, you can now get your serums + setting spray delivered with your sushi. Points still count too HERE.
That is all for this Week!!
xox, Lace
SIR. VENTURES
Strategic operators, capital architects, and scaling partners for SMEs in the $850K–$5M range, helping them scale into transferable, capital-attractive companies, ready for exit, investment, or aggressive market expansion. HERE.
SIR. BUSINESS ACADEMY™
Invitation-only boardroom for female founders scaling past $1.5M–$5M and into enterprise-level growth. It is a peer-powered space where women navigate the Big 3 of time, team, and capital together, with access to strategic experts, curated panels, and the collective intelligence of fellow high-growth CEOs. HERE.
VENTURA™
Sell-side exit readiness firm that transforms small and mid-sized companies into buyer-ready assets. We handle the heavy lift, from cleaning up finances and operations to preparing the data room and positioning for maximum valuation so founders can go to market confident, organised, and in control. HERE.
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