VCFA Group Successfully Closes Latest Fund, VCFA Venture Partners VII, L.P.

VCFA Group Makes Significant Progress with New Fund

VCFA Group, a trailblazer in the secondary private equity sphere, has successfully closed its latest fund, VCFA Venture Partners VII, L.P. This comes with capital commitments totaling an impressive $122.5 million. The fund underscores VCFA's established position in the secondary market, specifically focusing on the acquisition of smaller and intricate later-stage venture capital and growth equity assets.

The closing of VCFA VP VII marks an important milestone in the firm’s nearly 40-year journey. Founded in 1982 by Dayton Carr, VCFA pioneered the concept of secondary private equity. Carr's passing in 2020, during the fundraising period for the previous fund, VCFA Venture Partners VI, L.P., led to the implementation of a succession strategy. David Tom and Andrew Reilly have since taken on key leadership roles, culminating in the successful final closing of VCFA VP VI in March 2021 with $107.2 million in commitments. With the recent closure, the total capital raised by VCFA Group has reached $229.7 million across its flagship secondary fund strategy under the leadership of Tom and Reilly.

David Tom, Managing Member of VCFA, expressed gratitude to both returning and new investors, acknowledging their trust, especially as the demand for liquidity solutions in the venture and growth-stage capital markets has expanded greatly. "We are witnessing an increasing number of sellers seeking tailored capital solutions in transactions valued below $50 million. With the closure of VCFA VP VII, we are strategically positioned to enhance our leadership in the secondary market and foster the growth of VCFA into a next-generation firm," Tom noted.

Andrew Reilly emphasized the commitment to carrying forward the vision set by Dayton Carr. Over the years, the team's expertise and a solid track record of successfully navigating complex transactions have significantly contributed to their success. Looking ahead, Reilly stated a desire to broaden their core venture growth secondary strategy while exploring varied secondary strategies that cater to the evolving demands of their investors.

To support the new fund, VCFA is promoting two members of its investment team. Andy Coke has been elevated from Senior Associate to Vice President after joining the firm in 2019, while Colin Moffet has transitioned from Analyst to Associate since his arrival from Princeton in 2021.

VCFA VP VII is strategically targeting transactions involving seasoned venture capital and growth equity assets. The need for liquidity or strategic portfolio realignment often creates a wealth of opportunities for secondary investors. These engagements require a nuanced understanding of both the operational and financial landscapes surrounding portfolio companies and the intricate capital structures of the assets.

For those considering the sale of private equity interests or wanting to know more about VCFA Venture Partners VII, L.P., inquiries can be directed to Susan Harris at VCFA Group.

About VCFA Group

Established in 1982, VCFA Group is recognized as the first firm dedicated to the secondary acquisition of interests in private equity funds. The company has become a pillar in the secondary market space, dealing with GP-led transactions and limited partnership interests. To date, VCFA has successfully managed eleven funds, returning over a billion dollars to its limited partners, including institutional investors like state pension funds, Fortune 100 companies, and individual affluent clients. The firm's commitment to discretion and solid relationships within the private equity space remains a cornerstone of its operational philosophy. More details about VCFA can be found at www.vcfa.com.