About VCFA Group
VCFA Group became the first firm primarily focused on the acquisition of interests in private equity funds on a secondary basis in 1982. Before VCFA Group, a private equity investor needing liquidity had very few options. VCFA Group pioneered the concept of secondary purchases of limited partnership interests, providing liquidity to limited partners in venture capital, growth equity, buyout and other types of private equity funds.
Over the years, VCFA Group and the secondary industry have both grown in size and significance. To date, VCFA Group has raised ten funds totaling over $800 million. The firm focuses on the purchase of interests in promising companies backed by venture capital and growth equity funds.
VCFA is an active and experienced buyer of equity positions in high growth private companies in the following ways:
1. The purchase limited partnership interests (single or portfolios) - Secondary limited partnership purchases
2. The purchase of equity in an individual company from founder, early stage investor seeking liquidity - Secondary directs
3. By helping fund managers (GP's) liquidate and/or restructure aging/mature funds in order to provide liquidity to investors - GP led transactions OR fund restructurings
Please consider what VCFA can offer: Learn more about VCFA's investors here.
Over the years, VCFA Group and the secondary industry have both grown in size and significance. To date, VCFA Group has raised ten funds totaling over $800 million. The firm focuses on the purchase of interests in promising companies backed by venture capital and growth equity funds.
VCFA is an active and experienced buyer of equity positions in high growth private companies in the following ways:
1. The purchase limited partnership interests (single or portfolios) - Secondary limited partnership purchases
2. The purchase of equity in an individual company from founder, early stage investor seeking liquidity - Secondary directs
3. By helping fund managers (GP's) liquidate and/or restructure aging/mature funds in order to provide liquidity to investors - GP led transactions OR fund restructurings
Please consider what VCFA can offer: Learn more about VCFA's investors here.
Selected Portfolio Companies
VCFA Portfolio News
VAST Data Continues Historic Market Share Capture Throughout 2022VAST Data, the data platform company for the AI-powered world, today shared a business update, highlighting strong growth metrics through the first half of 2022. Driven by the global acquisition of new data-driven customers and the expansion of its many petabyte-scale deployments, VAST’s Annual Recurring Revenue (ARR) was 4.2x compared to the same time period the prior year, outpacing industry growth by 58x*. VAST’s unique business model has also allowed the company to maintain cash flow positivity while continuing its rapid growth trajectory, representing a mix of capital efficiency and hypergrowth that is rare within the technology industry.
November 1, 2022 |
UserTesting to be Acquired by Thoma Bravo and Sunstone Partners for $1.2BnUserTesting, Inc. (NYSE: USER), a leader in video-based human insight, today announced that it has entered into a definitive agreement to be acquired by Thoma Bravo, a leading software investment firm, and Sunstone Partners for $7.50 per share, in an all-cash transaction valued at approximately $1.3 billion. The offer represents a premium of approximately 94% over UserTesting’s closing stock price on October 26, 2022 and a premium of approximately 97% over the volume weighted average price (VWAP) of UserTesting’s shares for the 30 trading days ended October 26, 2022.
Following the closing of the transaction, Thoma Bravo and Sunstone Partners intend to combine UserTesting and UserZoom, which Thoma Bravo acquired majority control of in April 2022. UserTesting’s CEO, Andy MacMillan, will lead the combined company. Additionally, the combined company will benefit from the operating capabilities, capital support, and industry expertise of Thoma Bravo and Sunstone Partners. October 27, 2022 |
Financial Titans Invest $43 Million in CrowdStreet to Fund Growth and Accelerate Demand for Online Real Estate Investing CrowdStreet, Inc., an award-winning online real estate investing platform, today announced it has raised $43 million in equity and debt capital to help fund the company's growth and make the market for online real estate investing.
Equity capital came from a prominent group of strategic investors including Fortune 100 financial services company TIAA, which is making an investment through its newly launched TIAA Ventures program that seeks investments in promising fintech companies, as well as commercial real estate industry heavyweights such as Cypress Equity Investments, The Dinerstein Companies, and Foulger-Pratt. Existing venture capital partners Grotech Ventures, Rally Ventures, Seven Peaks Ventures, and Green Visor Capital also participated in the funding. October 10, 2022 |
For Sellers
The Need for Liquidity
VCFA has purchased interests from a variety of sources including:
Choosing VCFA Group for Private Equity Liquidity Needs
Sellers choose to work with VCFA because of the experience VCFA has developed through the completion of nearly 200 fund acquisitions.
Sellers find value in VCFA's:
VCFA has purchased interests from a variety of sources including:
- Fortune 500 and Global 5000 Corporations
- Banks
- Insurance Companies
- Pension Funds
- Foundations
- Individuals
Choosing VCFA Group for Private Equity Liquidity Needs
Sellers choose to work with VCFA because of the experience VCFA has developed through the completion of nearly 200 fund acquisitions.
Sellers find value in VCFA's:
- Responsiveness: Sellers respect VCFA Group’s responsiveness and straight forward approach to buying private equity fund interests.
- Confidentiality: VCFA Group respects the need for confidentiality and discretion, before and after a transaction.
- Flexibility: VCFA has the ability to provide structured transactions to accommodate a wide variety of scenarios.
- Valuation: VCFA's is able to quickly and fairly value private equity assets and provide appropriate value to investors requiring early liquidity.
General Partner Relations
VCFA has been building lasting relationships with general partners since 1982. Strong relationships, confidence and trust are the foundations of VCFA's business.
Building a relationship with VCFA has benefits:
Building a Relationship with VCFA
If you are a general partner of a venture capital or growth equity fund and would like to explore how VCFA can enable you to deliver liquidity to your investors, please contact David Tom at (212) 838-5577 to discuss how VCFA can assist in any future liquidity situations.
Building a relationship with VCFA has benefits:
- VCFA has been in business for over thirty years and is one of the most experienced buyers of private equity interests
- VCFA will work diligently to assure a smooth transaction and accommodate your specific needs
- Acquiring private equity secondary interests is VCFA's sole business focus—there is no conflict with any other investment activity
Building a Relationship with VCFA
If you are a general partner of a venture capital or growth equity fund and would like to explore how VCFA can enable you to deliver liquidity to your investors, please contact David Tom at (212) 838-5577 to discuss how VCFA can assist in any future liquidity situations.
Meet Our Team
The VCFA team is headquartered in New York with over 50 years of combined private equity experience.
New York
David B. Tom
Managing Director
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Andrew K. Reilly
Managing Director
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William R. Harman
Managing Director
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Andrew Coke
Senior Associate
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Colin Moffet
Analyst
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Deena B. Seelenfreund
CFO / COO
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Susan Harris
CAO
Contact Us
New York (Headquarters)
509 Madison Avenue
New York, NY 10022
Phone: (212) 838-5577
Fax: (212) 838-7614
Office Manager: Susan Harris (sharris@vcfa.com)
509 Madison Avenue
New York, NY 10022
Phone: (212) 838-5577
Fax: (212) 838-7614
Office Manager: Susan Harris (sharris@vcfa.com)