Lucky Number Seven: VCFA Group Closes on $122.5 Million in New Capital

VCFA Group has successfully closed its latest fund, VCFA Venture Partners VII LP (Fund VII), with capital commitments totaling $122.5 million.

Founded in 1982 by Dayton Carr, VCFA pioneered the concept of acquiring private equity interests on a secondary basis, including limited partnership interests and GP-led transactions.

Today, the New York City-headquartered firm is led by David Tom and Andrew Reilly, who assumed leadership after Mr. Carr’s passing in 2020. Under their leadership, the firm has now closed two secondary funds with a combined $230 million in capital. 

“We are thankful to the investors who have supported us through multiple funds, as well as the new investors who have placed their trust in us,” said Mr. Tom. “The demand for liquidity solutions for mature venture and growth-stage fund interests at the smaller end of the market is greater than I have ever seen. With Fund VII closed, we are well-positioned to build on our leadership in the secondary market and to continue growing VCFA into a next-generation firm.”

Simultaneously with the closing of Fund VII, Mr. Tom and Mr. Reilly announced the promotion of Andy Coke, who joined the firm in 2019, to Vice President, and Colin Moffet, who joined the firm in 2021, to Associate.

“We are proud to carry forward the vision Dayton Carr established more than four decades ago,” said Mr. Reilly. “Our team’s deep experience, combined with our track record of success in navigating complex transactions, uniquely positions us to execute on this strategy. As we look ahead, we are excited to expand on our core venture growth secondary strategy while also exploring complementary secondary strategies that will diversify our offerings and meet the evolving needs of our investors.”

The close of Fund VII , follows the firm’s sixth fund which closed in March 2021 with $107 million in capital.