Meet the investor - Stephen Murray

YFM’s “Man In The Midlands” shares some of his thoughts about YFM and gives away a little too much about his eating habits!

Stephen Murray, Investment Director YFM - Meet the individual behind the investor

What is it like working at YFM?

There are three things that strike me about working at YFM:

1)?????It’s fast-paced

Being a small, but ambitious business we are able to get together and talk through ideas, challenge each other and make decisions swiftly without getting bogged down in burdensome processes.

2) The work is incredibly varied

YFM invests in scaling young businesses and also more mature businesses. This means that we see all sorts of businesses and situations from early stage technology ventures seeking support to build out sales teams, to established family-run manufacturing companies looking to sell the business to the management team.

3) Everyone works together and helps one another

With a small (but perfectly formed!) team, we work closely together and talk through investment opportunities and portfolio challenges regularly – always with a supportive attitude to find the right answers. I have already lost track of the number of times that a member of the team has provided some useful insight into a sector or made an introduction to support their colleague.

Has anything surprised you since joining earlier this year?

The level of sector knowledge and power of YFM’s network has been pleasantly surprising. While no-one in the business is bold enough to refer to themselves as a sector expert, I am regularly impressed with my colleagues’ depth of understanding and experience in a number of sectors, particularly SaaS and business services.

Lots of PE houses have good networks, but it’s always tricky to leverage these and share them across the team. YFM are great at cultivating its network and I have already been the beneficiary of this when looking at a number of investment opportunities.

What advice would you give someone wanting to move into PE?

I would say, spend some time with people already in the industry – get to know them, what the job really entails and consider what skills/experience you need, and have a plan to address any gaps in your capabilities.

I have always found people to be helpful if you show a genuine interest and you’re keen to learn more – so approach someone and have a chat!

What gets you excited about an investment opportunity?

Management. It’s so cliched that I cringe to say it, but it is true – the management team can make or break an investment, so finding the right team to back is vital.

I get a real kick out of finding a great management team who I want to work with for the next (however many) years.

What are you most proud of since joining?

The support YFM and Kids Out charity received when opening the Birmingham office. Despite it being a miserable day when the Cheltenham Festival was in full swing, we had a superb turnout as the local business community made the effort to support YFM and our nominated charity Kids Out.

Through the generosity of our guests, we raised ￡1,600 to help Kids Out support less fortunate children to have “normal” fun experiences that all children should enjoy.

Get to know Stephen a little more …

What are you currently reading and why?

I’m reading two books right now.

The first is “Casino: Love and Honor in Las Vegas” which the 1995 Martin Scorcese crime film “Casino” is based upon. I love the film but hadn’t read the book so decided to pick it up to see how it compares (the short answer is the book compares very well, if not better than the film!).

The second is “The Subtle Are of Not Giving a…” by Mark Hanson. Despite the expletives, the book is a fascinating read about how to focus on what is important to care about. I find it easy to take some things to heart when, in hindsight, those things didn’t really matter – hence reading the book to get better at focusing on what matters.

Favourite cuisine and what drink do you order when you are at the bar?

I love a simple steak and chips. Steak is one of those things that sounds easy to do, but actually takes skill to get right.

?If I’m treating myself, I like a good cocktail – my favourite is a Caipirinha which is Brazil’s national cocktail made with cashaca (sugarcane based liquor), sugar, lime and lots of ice. It’s certainly not a subtle drink but it tastes good!

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What is the most memorable meal you’ve ever had?

Deep-fried aligator and fries has to be the most memorable because of the context rather than the food.

I’d been on an Everglades Airboat tour and spent the day taking in the spectacular views,?getting hands-on with aligators (see photo!) and learning about this incredible animal. It was a fantastic experience – it felt somewhat surreal, therefore, to finish it off with the inclusive meal of the deep-fried reptile that I had spent the day admiring! It didn’t taste good either…

Tell us something most people don’t know about you?

I’m (sort-of) ambidextrous. I write left-handed, but use a mouse right-handed. I kick a football with the left but can only throw with my right hand. I play snooker left-handed but tennis right-handed. I use a knife, fork and spoon in either hand. Overall I’d say that my brain is quite confused!