Terra Nova Ventures was founded by David F. Tufaro in 1999. Prior to that time, Tufaro worked for Summit Properties, an East Coast multifamily developer, starting as a founding partner and Mid-Atlantic Regional Partner for Summit Properties in 1984.

Summit Properties/ Tufaro became one of the most consistently active and successful apartment developers in the Mid-Atlantic Region with apartment communities developed in Newport News, Richmond, Fredericksburg, Northern Virginia, Washington, DC, Maryland, Wilmington and Philadelphia. The projects developed were always carefully designed, taking into consideration the requirements of the site and the desires of the communities in which the projects were located. The projects brought innovation in design, amenities and services offered to residents of the properties. Summit Properties became a public real estate investment trust in 1994, and Tufaro served as Executive Vice President and Chairman of the Investment Committee.

Prior to 1984, Tufaro worked as a Development Manager for Oxford Development Company (1978 to 1984), and as a lawyer for Piper and Marbury (1973 - 1978).

Tufaro's volunteer activities in the Baltimore community have been continuous and extensive, primarily in areas of community redevelopment and historic preservation. He has served on the boards and as president of the Neighborhood Design Center, a volunteer planning group that serves neighborhoods and non-profit groups, and the Baltimore Corporation for Housing Partnerships, a non-profit housing developer. He has been on the board of the Baltimore Heritage, Inc., Garrett-Jacobs Mansion Endowment Fund and the Patterson Park Community Development Corporation, a successful example of neighborhood reinvestment strategy put to practice. He served as a member of the Maryland State Board of Education from 2004 to 2008.

Tufaro earned a B.A. from Yale University, 1969, and a Juris Doctor and Master of City Planning from University of Pennsylvania, 1972. He has resided in Baltimore since 1973, is married to Sharon, and has three daughters, Theresa, Jennifer, and Christina. Jennifer works for Terra Nova Ventures.