# Venture Capital Fund of America

Venture Capital Fund of America is a Venture Capital based in New York, United States.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 1982
- **Assets under management:** Undisclosed
- **Website:** www.vcfa.com
- **LinkedIn:** https://www.linkedin.com/company/vcfa-group

## Regulatory record

- **Reports private funds:** No

## About

VCFA Group Secondary Market Pioneers Since its founding over 40 years ago, VCFA has been a pioneer in the purchase of Limited Partnership interests in private equity funds. About VCFA Our Approach our team Why Choose VCFA THE FIRM Empowering Private Equity Investors about VCFA group In 1982, VCFA Group was founded as, what we…

## Sectors

- Venture Capital
- Secondaries & Special Situations
- Buyout
- Growth Equity

## People

- Dayton Carr — Founder

## Questions

### Who founded Venture Capital Fund of America and when?

Dayton Carr founded VCFA in New York in 1982, establishing one of the first dedicated secondary funds focused on acquiring LP interests in venture capital partnerships. Carr's background prior to launching VCFA involved investment banking and institutional advisory work, though the specific firm tenure is not widely documented in public record. The founding predates the formalization of the secondary market by roughly a decade, positioning Carr as an early figure in creating liquidity mechanisms for illiquid venture holdings.

### What type of investment strategy does VCFA pursue?

VCFA operates as a secondary fund of funds manager, acquiring limited partnership interests in existing venture capital, growth equity, and buyout funds from sellers seeking liquidity. The firm does not make primary commitments to new funds or direct investments into portfolio companies. Its strategy targets diversified portfolios of mature fund interests, often at a discount to reported net asset value, which provides immediate exposure to seasoned underlying companies across multiple vintages and sectors.

### What is VCFA's known posture on co-investments alongside external GPs?

VCFA's investment approach does not include direct co-investments alongside general partners. The firm's mandate is structured exclusively around acquiring secondary LP positions in closed-end private equity funds, meaning it gains exposure to underlying portfolio companies only indirectly through the acquired fund interests. This posture distinguishes VCFA from hybrid secondary firms that blend LP-stake acquisitions with direct company-level co-investment or GP-led continuation vehicles.

### Which sectors and geographies does VCFA typically target?

VCFA acquires interests across venture capital, growth equity, and buyout funds, with a historical emphasis on North American venture partnerships. Underlying portfolio companies within acquired fund stakes span technology, life sciences, and other venture-backed sectors, though the firm maintains sector-agnostic criteria when evaluating fund portfolios. The firm's geographic focus remains predominantly US-centric, reflecting the composition of the venture capital market during VCFA's formative decades.

## Related profiles

- [Venture Capital Bank](https://altss.com/profile/venture-capital-bank)
- [Venture Catalysts](https://altss.com/profile/venture-catalysts)

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Last updated: 2026-06-03T20:00:00.000Z

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