The Venture Capitalists Making a Bet on Aging Consumers

Alan Patricof is entering what he calls the third chapter of his life. Like many people these days, the 85-year-old is spending a lot of time on Zoom. But he’s also been using the time to make deals—four over the past few months.

Patricof’s first chapter was when he founded a predecessor to today’s Apax Partners, a major private equity firm. His second was the venture capital shop Greycroft, launched in 2006. The firm has $2 billion in assets under management and made investments in successful companies such as the dating app Bumble and money transfer app Venmo. His new phase is Primetime Partners, a $32 million venture capital fund with an unusual focus: financing products and services for an aging population and investing in older entrepreneurs. “I could be the poster child for saying ‘If I can do it, you can do it,’ ” Patricof says.