VCFA Group
Private equityNew York · Growth–Late Stage · 11 people tracked
Also known as VENTURE CAPITAL FUND OF AMERICA III, INC.
Investment thesis
VCFA pioneered the secondary private equity market, originally acquiring limited partnership interests in venture capital and growth equity funds and providing liquidity to private equity investors. The firm has deliberately stayed small, focusing on its original core strategy of smaller, complex secondary transactions such as LP- and GP-led deals and direct secondary equity purchases in private, venture-backed companies. Its guiding philosophy, inherited from founder Dayton Carr, is to 'buy later and cheaper' when investing in venture and growth equity. Over its history VCFA has raised ten venture/growth equity secondary funds representing more than $1 billion in cumulative capital.
Source: firm website, verified Aug 2, 2026.
Team · 11 people
from the firm's website
Co-leader and owner of VCFA Group with extensive secondary market experience and a long history at the firm.
Founder and Managing Director of VCFA Group, credited with pioneering the secondary private equity market in 1982. Now deceased.
Frequently asked questions
- What stage does VCFA Group invest at?
- VCFA Group invests at the Growth, Late Stage stages.
- What is VCFA Group's typical check size?
- VCFA Group typically writes checks of $150K – $2.5M.
- What sectors does VCFA Group focus on?
- VCFA Group focuses on Sector Agnostic.
- Where is VCFA Group located?
- VCFA Group is headquartered in New York, US.
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