Dayton Carr is the founder of Venture Capital Fund of America (today VCFA Group) a private equity firm that is credited with inventing the private equity secondary market. Unlike later entrants to the market, including Jeremy Coller of Coller Capital, Carr chose to keep his funds relatively small despite strong investment performance. Jeremy Coller, whose firm is one of the largest in the market, worked for Imperial Chemical Industries which was an early investor with VCFA. Since inception in 1982, VCFA has raised nine funds totaling over $730 million. By comparison, the largest ten firms in the private equity secondary market are each investing out funds in excess of $1 billion. Carr, began his career in the 1960s by managing a venture capital fund (Carr Management) for IBM's Thomas J. Watson Jr. Carr graduated from Brown University and received an MBA from Harvard Business School.
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