# Estelio Partners

Estelio Partners is a Search Fund based in Palo Alto, United States.

## Overview

- **Organization type:** Search Fund
- **Headquarters:** Palo Alto, United States
- **Region:** North America
- **Address:** Palo Alto, CA, United States
- **Founded:** 2021
- **Assets under management:** Undisclosed
- **Website:** esteliopartners.com
- **LinkedIn:** https://www.linkedin.com/company/estelio-partners

## Regulatory record

- **Reports private funds:** No

## About

Estelio Partners is a search fund partnership backing entrepreneur Luka Salamunic to acquire and operate a single, great business. Their sole purpose is to preserve and grow the seller's legacy and create long-term value for employees, clients, and the broader community. They seek a U.S.-based business-to-business services or tech-enabled company with annual revenues of $3-30 million and a track record of profitable growth. They emphasize stewardship rather than flipping companies, private equity, or venture capital approaches.

## Sectors

- Enterprise Software
- Industrial Tech

## People

- Luka Salamunic — Managing Partner & Searcher

## Questions

### What is a search fund and how does Estelio Partners fit that model?

A search fund is an investment vehicle where an entrepreneur, or searcher, raises capital from a group of investors to find, acquire, and operate one privately held business. Estelio Partners follows this model precisely, with Luka Salamunic serving as the lead searcher. Once a target is acquired, Salamunic will step in to run the company full-time, transitioning Estelio from a search entity into an operating business.

### What kind of business is Estelio Partners looking to buy?

Estelio targets US-based business-to-business services or tech-enabled companies generating $3 million to $30 million in annual revenue. The firm looks for a history of profitable growth and revenue that is predominantly recurring in nature. The seller can be looking for a full exit or a partial sale.

### Who runs investment decisions at Estelio Partners?

Luka Salamunic leads the search and acquisition process as Managing Partner. He is backed by a committed group of more than 20 business owners and investors who provide both the capital and operational support necessary to close a deal, but day-to-day search execution rests with Salamunic.

### How is Estelio Partners different from a traditional private equity buyout fund?

A traditional buyout fund raises a blind pool of capital to make multiple acquisitions across a portfolio. Estelio is structured as a search fund, meaning it will make exactly one acquisition and Salamunic will become the full-time operator of that single business. This creates a direct alignment between the investor group's returns and the long-term performance of one operating company.

### Does Estelio Partners co-invest or partner with external GPs on deals?

There is no disclosed posture on co-investing alongside external general partners. The standard search fund model relies on the committed investor group described on the firm's website — over 20 business owners and investors — rather than syndicating equity to outside institutional GPs.

## Related profiles

- [Estec Asset Management](https://altss.com/profile/estec-asset-management)
- [Esterad](https://altss.com/profile/esterad)

---

Last updated: 2026-08-11T15:06:42.396Z

Canonical page: https://altss.com/profile/estelio-partners

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology