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How to Build Companies That Last pt. 2
Stew Campbell, Partner at TCG, returns to the M&A Science podcast to break down how founders can evaluate growth equity partners, run their own competitive capital process, and preserve long-term value through strategic investor relationships.
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Stew Campbell, Partner at The Chernin Group

In Part 2, Stew Campbell returns to share tactical guidance for founders evaluating outside capital. We dive deep into how to run a founder-led investor process, what to watch for in term sheets, and how to build long-term wealth while scaling a founder-led business. Stew breaks down growth equity vs. private equity, investor diligence, and how to choose a partner who accelerates—not limits—your next chapter. This episode is a must-listen for any operator planning a recap, acquisition, or capital raise in the next 1–3 years.

Things You’ll Learn:

  • How to run a founder-led competitive investor process

  • What to ask when evaluating potential investors and term sheets

  • How to align capital strategy with long-term wealth goals

  • Ways great investors create real value beyond the check

Stew Campbell

Stew Campbell is a Partner at TCG, where he focuses on growth equity investments in consumer-facing companies across commerce, media, and culture. Prior to TCG, he was a leader at Norwest Venture Partners and Spectrum Equity. Stew brings a founder-first approach to investing, helping entrepreneurs scale with strategic clarity and a values-driven lens. He specializes in board development, M&A strategy, and aligning growth capital with long-term ambition.g

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