Firm: Venture Investment Associates
Fund: Venture Investment Associates VII LP
Target: $225 million
“Super LP” Chris Douvos has found a place to land, at the Peapack, N.J.-based
His presence is likely to help as the low-profile fund of funds raises a new pool, a planned $230 million
Douvos has been at loose ends since May, when he left the limited partner
A popular speaker on the conference circuit, Douvos also writes a blog, “Super LP,” in which he opines on issues in GP relationships. Douvos said he plans to continue the blog while he works with VIA. In one recent post, Douvos offered a meditation on value investing: “Perhaps businesses are better thought of as portfolios of options, some of which are very long-dated and way out-of-the-money. And maybe the central wonder of the American economy, with California as its exemplar, is that it offers the best framework for capturing the random forward lurch of progress?”
Where TIFF had a balanced mandate, investing both in venture capital and buyouts, VIA is more emphatically focused on growth investing, although it too considers both venture capital and buyout fund managers.
“One thing that’s distinctive about VIA is how excited we are about entrepreneurship as the very idea of America,” Douvos told Buyouts in an interview. “I’ve got a lot of time for people who are doing interesting and quirky things.”
Douvos will establish a Palo Alto office for VIA, which is expected to open in mid to late 2012. He is joined in the firm’s West Coast outpost by Jennifer Acker Ayer, a principal in the firm who previously was the marketing director at fixed income investment boutique Samson Capital Advisors of New York. Douvos said Ayer relocated to Silicon Valley in April.
VIA was founded in 1993 by Stathis Andris to manage the venture capital and buyout fund interests of American Express Co. He remains president of the GP of all of the VIA funds. LPs included the endowment arms of
Douvos becomes the fourth managing director at VIA. “We’ll be bi-coastal,” Jason Andris said. “Chris will be very much additive on all fronts.”
VIA is investing out of its
The new fund is expected to be similarly sized, said the source with knowledge of the situation, who asked not to be identified because of regulatory restrictions.