Inside the UK Legal Startup Scene, with Henry Humphreys
The Legal Side of Raising Money: Startup Funding Questions Answered, with Anna Tharrington
View of Venture Capital and Emerging Companies From New England Venture Summit
Baseball Analogy Catches Differences in Private Equity and Venture Capital Investment Theories
The two most common exemptions from registration under the Investment Company Act of 1940 (the “Act”) utilized by private funds are under Section 3(c)(7) and Section 3(c)(1). Funds that do not qualify for an exemption under...more
Provided that they meet certain criteria, venture capital funds are not required to be registered as an “investment company” by the U.S. Securities and Exchange Commission (the “SEC”) under the Investment Company Act of 1940...more
Who may be interested: Boards of Directors, Investment Advisers, Compliance Staff - Quick Take: The SEC proposed Rule 3c-7 under the 1940 Act, which would inflation adjust the dollar threshold for a fund to meet the...more
Venture and private equity funds that own equity securities of public companies may have numerous Securities and Exchange Commission (SEC) filing requirements, including filings based on the size of the holdings of a...more
The term “accredited investor,” as defined under Rule 501 of Regulation D of the Securities Act of 1933, as amended (the “Securities Act”), had not changed significantly since it was originally adopted in 1982. In June 2019,...more
Let’s start with a hypothetical: Tough Times, Inc. is in the market for another round of financing. By “in the market,” we mean they have spoken to dozens of ventures funds, have had first meetings with many and second...more
Some interesting links we found across the web this week: The Few Startups with Female Founders Raise More Venture Cash - After angel investments and seed round funding, studies from the Kauffman Fellows Research Center...more
The Securities and Exchange Commission filed a complaint last week against the founder of venture-backed mobile payments startup Jumio, Inc., charging him with causing the company to prepare false and misleading financial...more
The Economic Growth, Regulatory Relief, and Consumer Protection Act (Consumer Protection Act), signed into law on May 24, 2018, includes certain provisions that are particularly relevant to investment companies, both...more
On July 17, 2018, the House of Representatives passed the JOBS and Investor Confidence Act (JOBS Act 3.0), a package of reforms consisting of 32 pieces of legislation principally designed to spur entrepreneurship by...more
The recent IPOs of Snap, Inc. and Blue Apron indicate that while the IPO pipeline continues to flow, there may be a cautionary tale for “unicorns” – venture-backed companies with estimated valuations in excess of $1 billion....more
Because they can…. This was the conclusion of the discussion at the SEC Advisory Committee on Small and Emerging Companies earlier in the week. The Committee discussed statistics relating to the number of companies that are...more
Join us for a complimentary program that will cover the basics of the newly-effective Regulation Crowdfunding process. The rules surrounding Regulation Crowdfunding are complicated and pursuing investors through crowdfunding...more
Some interesting links we found across the web this week: Challenging Uber, Lyft Bets on a Road Wide Enough for Two - We ended our last post pondering the anti-competitive nature of a marketplace dominated by tech...more
Contents of Offering Statement - For many years, SEC Regulation A languished as an exemption from registration that nobody really used. Although securities issued in a Regulation A offering are not “restricted...more
Welcome to the inaugural issue of Orrick Technology IPO Insights, a quarterly publication highlighting trends in U.S. information technology company IPOs. We isolate technology companies in order to analyze and present...more
Recently, Craig Lewis, the Chief Economist and Director of the SEC’s Division of Economic and Risk Analysis, commented on the economic impact of various JOBS Act reforms, or the effects on “efficiency, competition, and...more
In This Issue: -Market Trends -Venture Capital -Private Equity -Initial Public Offerings -Mergers & Acquisitions -Legal Updates -Jobs Act & Capital Markets -Mergers & Acquisitions ...more