Jason Nguyen’s Journey: A Career Pivot into Entrepreneurship at Wharton

In the dynamic world of business, the journey to entrepreneurship can take many forms. For Jason Nguyen, a Wharton MBA student, this journey began as a venture capital investor and evolved into a passionate pursuit of entrepreneurship through acquisition (ETA). His firsthand experience illustrates the transformative power of education, community, and a willingness to challenge conventional wisdom.

From Venture Capital to Entrepreneurship

Before embarking on his MBA journey at Wharton, Jason worked as a venture capital investor in both San Francisco and New York. His role allowed him to engage with innovative startup founders at the forefront of their industries. Investing in groundbreaking companies like Stripe, Guardant Health, and Roblox, he witnessed firsthand how these organizations reshaped digital payments, precision medicine, and online gaming.

Jason’s experience as a technology investor was not just about financial returns; it was about a relentless pursuit of improvement. He thrived on the challenge of questioning the status quo, always searching for better ways to solve problems. This mindset laid the groundwork for his eventual pivot into entrepreneurship.

Challenging Assumptions About Entrepreneurship

While immersed in the venture ecosystem, Jason became increasingly aware of a new wave of entrepreneurs who were redefining what it meant to be a business leader. Unlike the traditional zero-to-one model, where founders create entirely new products, these entrepreneurs were acquiring existing businesses and transforming them into impactful organizations. This revelation sparked Jason’s interest in ETA, prompting him to explore this alternative path.

By day, he continued his work as a venture capital investor, but by night, he delved into ETA literature, including the HBR Guide to Buying a Small Business and the Stanford Search Fund Primer. This dual focus ignited a dream within him: to lead his own company one day. To bridge the gap between his analytical skills as an investor and the managerial expertise required of a CEO, he decided to pursue an MBA at Wharton.

Leveraging Wharton’s Resources

At Wharton, Jason took full advantage of the resources available to aspiring entrepreneurs. He enrolled in courses like Entrepreneurship Through Acquisition and Search Fund Entrepreneurship, taught by esteemed professors who provided invaluable insights into the acquisition process. Additionally, events hosted by the Venture Lab at Tangen Hall, such as fireside chats and workshops featuring successful acquisition entrepreneurs, enriched his learning experience.

These resources not only equipped Jason with the necessary skills but also instilled a scrappy, open-minded approach to pursuing opportunities. He learned to be proactive, seeking out knowledge and connections that would support his entrepreneurial aspirations.

Gaining Practical Experience

To validate his interest in ETA, Jason sought practical experiences during his MBA. He interned with a search fund, contributing to the acquisition of a $2 million EBITDA business in California. This hands-on experience demystified the search and acquisition process, providing him with a clearer understanding of what it takes to succeed in this field.

Furthermore, his internships with traditional search fund investors, Anacapa Partners and ETA Equity, honed his ability to identify great businesses for acquisition. These experiences solidified his commitment to pursuing entrepreneurship through acquisition.

A Successful Acquisition

In early 2024, Jason achieved a significant milestone by acquiring AZTAC, a healthcare regulatory compliance business serving intermediate care facilities for individuals with intellectual disabilities. This acquisition marked the culmination of his efforts and the beginning of a new chapter in his entrepreneurial journey.

Since taking ownership, Jason has focused on organic growth and value creation, launching new lines of business and reevaluating revenue models. His vision for AZTAC is to transform it into a leader in the human services industry, demonstrating the potential of ETA to create meaningful impact.

Giving Back to the Community

Recognizing the support he received during his journey, Jason is committed to giving back to the Wharton community. As co-president of the Wharton Entrepreneurship Through Acquisition Club, he plays a pivotal role in organizing events that educate fellow students about ETA and foster connections with potential investors. The club also hosts an annual summit, serving as a launching point for aspiring search fund entrepreneurs.

This year, the club partnered with organizations like the Women’s Search Network and the Black Search Network to promote ETA as a viable career path for diverse MBA candidates. Jason’s dedication to empowering others reflects the collaborative spirit of the Wharton community.

Conclusion: A Thriving Entrepreneurial Ecosystem

Jason Nguyen’s journey from venture capital investor to acquisition entrepreneur exemplifies the power of education, community, and a willingness to challenge norms. At Wharton, he found a thriving entrepreneurial ecosystem that supported his aspirations and equipped him with the tools to succeed.

For those interested in entrepreneurship in all its forms, Wharton offers a wealth of opportunities—from engaging coursework to vibrant student clubs. As Jason’s story illustrates, the path to entrepreneurship is not a solitary one; it is enriched by collaboration, mentorship, and a shared commitment to innovation.

As he continues to build AZTAC and support fellow aspiring entrepreneurs, Jason embodies the spirit of entrepreneurship that Wharton fosters, proving that with the right resources and community, anyone can turn their dreams into reality.