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Any of these “growth” buyout firms in the LMM have wildly different cultures and competence gaps. Banneker is one of the K1 style shops that underpay and overwork on the sourcing front, are kind of all over the place in terms of modeling.

Have heard that it is a sourcing sweatshop, culture is mediocre, but the seniors are pretty intelligent.

The DNA of these shops is to find cheap talent to source and close cheap deals, and run as lean as possible while milking fees hard.

This space is definitely over saturated

 

Agreed that some on the team seem to have lack of pedigree. 

The person I spoke with mentioned that the work is not very complex and quite repetitive/high volume, which was a strange thing to say during an interview about his own team. 

The interviewer gave off an extremely dry and closed off vibe. Never had a conversation which was so dry right off the bat. 

 
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I’ve seen Banneker in process. Sharp team, real operators, software buy & build playbook. Not for everyone, but definitely not the horror story being painted here.

They’ve raised multiple vehicles and are bringing solid exits to market — clearly doing something right.

 

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