In Memory of Dayton T. Carr
We are heartbroken and it brings us great sadness to announce that Dayton T. Carr, the founder of VCFA, passed away peacefully at his home in New York on April 7, 2020.
Dayton founded the Venture Capital Fund of America (VCFA) in 1982 and is credited as being the founder of the secondary private equity industry. He was a visionary who was the first to recognize the opportunity to buy illiquid investments from the original investors in venture capital funds. Dayton was a storyteller who often enjoyed re-telling the origins of his firm, the benefits of secondaries and the many adventures he had through his life-long love of sailing. He was a larger-than-life figure who made an impression on everyone that he met. Dayton was extremely generous and devoted much of his free time to charitable organizations.
Our team here at VCFA is shocked and saddened to lose our founder and friend. We know that, more than anything else, Dayton wanted the firm to continue well beyond his years. Dayton was excited with the direction of the firm in recent years and would frequently tell prospective investors that “we have the best team we have ever had at VCFA.” The firm recently completed a successful first closing of its latest fund and, prior to the fund launch, Dayton crafted a succession plan to ensure that the firm would thrive in his eventual absence. David Tom and Drew Reilly are the continuing Managing Members of the new fund and, as the two remaining key persons, will continue to manage the operations of VCFA as the Managing Directors of the firm. The core team will remain unchanged with William Harman as Senior Executive Partner, Deena Seelenfreund as CFO and CCO, and Susan Harris as Chief Administrative Officer. Dayton always put our limited partners first and we want to assure all VCFA investors, portfolio investments and partners that we will continue to manage the firm and our investments with the upmost integrity and honor, which Dayton exemplified.
In these difficult times, we ask that all who knew Dayton spend a moment to reflect on their times with Dayton and celebrate his life. Dayton’s warm-heartedness, kind spirit and unique vigor for life will be sorely missed.
Dayton founded the Venture Capital Fund of America (VCFA) in 1982 and is credited as being the founder of the secondary private equity industry. He was a visionary who was the first to recognize the opportunity to buy illiquid investments from the original investors in venture capital funds. Dayton was a storyteller who often enjoyed re-telling the origins of his firm, the benefits of secondaries and the many adventures he had through his life-long love of sailing. He was a larger-than-life figure who made an impression on everyone that he met. Dayton was extremely generous and devoted much of his free time to charitable organizations.
Our team here at VCFA is shocked and saddened to lose our founder and friend. We know that, more than anything else, Dayton wanted the firm to continue well beyond his years. Dayton was excited with the direction of the firm in recent years and would frequently tell prospective investors that “we have the best team we have ever had at VCFA.” The firm recently completed a successful first closing of its latest fund and, prior to the fund launch, Dayton crafted a succession plan to ensure that the firm would thrive in his eventual absence. David Tom and Drew Reilly are the continuing Managing Members of the new fund and, as the two remaining key persons, will continue to manage the operations of VCFA as the Managing Directors of the firm. The core team will remain unchanged with William Harman as Senior Executive Partner, Deena Seelenfreund as CFO and CCO, and Susan Harris as Chief Administrative Officer. Dayton always put our limited partners first and we want to assure all VCFA investors, portfolio investments and partners that we will continue to manage the firm and our investments with the upmost integrity and honor, which Dayton exemplified.
In these difficult times, we ask that all who knew Dayton spend a moment to reflect on their times with Dayton and celebrate his life. Dayton’s warm-heartedness, kind spirit and unique vigor for life will be sorely missed.