VIA | Venture Investment Associates
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  VENTURE INVESTMENT ASSOCIATES' primary goal is to maximize capital gains for its investors. VIA's returns place it as one of the top performers in the private equity industry and fund of funds world.

VIA's strategy for achieving this goal is founded upon a commitment to the relationships it has with its investors and fund managers, as detailed by our Philosophy. Today, this strategy cannot be easily replicated because the majority of top-tier managers are not available to new investors because of fund size limitations. Further, our team has the experience, depth, and skill to identify the most promising new entrants in the industry.

The highest returns, particularly in venture capital, are most often achieved by a small group of the same top managers. Developing relationships with such firms early in their histories is paramount for generating top returns as a limited partner. Therefore, as a singularly-focused, proactive portfolio manager, VIA's strategy is differentiated by:

An approach to portfolio construction incorporating access, both to established and emerging managers.
  • The starting point of each VIA portfolio is based on strong and longstanding relationships with many of private equity's top performing firms. The formation of some of these firms was catalyzed by VIA's founder during his 35+ years in private equity investing.
  • A smaller segment of each VIA portfolio is allocated to managers not previously associated with VIA, who also possess the potential to generate top-tier return in order to build strong relationships with such emerging firms, in many cases assisting those firms in their development, before access becomes more difficult.
  • VIA's stature in the industry and experienced leadership ensure that it has meaningful access to top-tier private equity funds that are generally closed to new investors.

A belief that too large of an organization and too much capital is not a blessing, but rather a path to diminishing and diluted returns. VIA organizes smaller sized funds in order to preserve a high concentration of its capital with its best managers. The size of each fund is dictated by the set of high quality investment opportunities available and by sound principles of prudent diversification. VIA is keenly aware that aggregate returns across the private equity asset class do not compensate adequately for the associated risk. The smaller size and the concentrated nature of each VIA fund facilitate the development of deep relationships with managers and investors alike.

A commitment to aligning General Partner and Limited Partner interests. Reasonable management fees and a high hurdle rate mitigate the impediments to higher returns that a fund of funds structure often creates. The alignment of interest is further strengthened by the General Partner investing a significant amount of its capital on a pari passu basis with the investors.

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Photo Credits: Marcin Wichary, Evert Haasdijk, Wessex Archeology