Ep. 70 David Perez, Co-Founder & Managing Partner, Avance Investment Management
In order to grow, you need to become uncomfortable
“And I think that experience, all those experiences have shaped me into an optimist. It's been great asset in my professional career. I love the journey that I've had, which has been upwards.”
Avance is a private equity firm guided by partnership, experience, diversity and growth. The Avance team has over 80 years of collective private equity experience and a long history of partnering with founder-owned businesses, industry executives, and management teams to build dynamic businesses in the lower middle market across the U.S.
Co-Founder & Managing Partner David Perez sits down with Jordan Selleck on this episode of Investors & Operators to discuss…
David’s journey from Cuba, to East Germany, to America
Learning to be uncomfortable
How to bring meaning into your life
and so much more…..
Full episode at the bottom of this page.
It’s been a long journey
From Cuba, to East Germany, to the United States, David has had quite the journey to get to where he is today. Moving to Germany in the summer of 1986, David had to become fluent in German in order to be successful in his studies.
Coupled with an intense school life, David worked at a toilet factory on nights and weekends in order to save money. 10pm - 6am with only a 20 minute break while going to class afterwards; essentially an all nighter on his feet. That only made the journey that much more worth it:
”When I look back, every experience was different and every experience was… better than I thought and better in different ways. It's going to have some stuff that you don't like, but focus on what you can learn, focus on what you can take to the next.”
Discomfort = Growth
Living with regret is something David doesn’t want to do. Even with the possibility of making mistakes along his journey, he states that it’s that lack of 100% knowledge of his environment that has shaped him into the person he is today.
“There has been a few things that haven’t worked, but overall, I think different environments keep you on your feet. But you need change, you need a challenge. From speaking Spanish, to going to college in Germany, and into my professional life now in English, it has forced me in an environment where I don’t have 100% of the information.”
This willingness to try new things without the fear of failure has shaped Avance into a firm that has 80+ years of collective private equity experienced investors, collaborative partners and an established reputation in the private equity community.
Use your Network
Building a successful firm is not easy. David has been through his ups and downs when it came to starting Avance. He learned that without those bad times, he wouldn’t have been able to learn how to better the firm. David has a plethora of advice for those looking to start their own firm:
“Reach out to as many people as you can. You’d be surprised by how many people are willing to help. If you’re afraid of rejection, it’ll be tough to start a new firm. You need several rejections in order to craft your message and adapt. This business is all about relationships. It doesn’t have to be successful day one, because it’s all about the long-term.”
David Perez is a Co-Founder and Managing Partner of Avance Investment Management, LLC. Prior to founding Avance, David was the President and COO of Palladium Equity Partners. Prior to Palladium, he had several senior private equity roles, including Principal of General Atlantic Partners and Atlas Venture and Senior Associate of Chase Capital Partners. David started his career with James D. Wolfensohn and Co, focused on mergers and acquisitions.
David earned his B.S. in Systems Engineering from Dresden University of Technology, a M. Eng. in Engineering Management from Cornell University, and an MBA from Harvard Business School. He is a member of the Council on Foreign Relations, a Co-Chair of the Harvard University Cuba Studies Advisory Group, a member of the Cornell Engineering School Advisory Group, President of the Board of Trustees of the Trinity School in New York City, and a longstanding board member and former President of the Board of Ballet Hispánico. He also served as Chairman of the Board of the NAIC. David lives in New York with his wife and three children.
