Venture Capital in the 2019 Landscape: Significant Trends and Developments Explored!
Venture capital (VC) financing has been essential for many privately-held companies, from startups to pre-IPO “unicorns”. Thus, it is necessary for companies and counsel to be well-versed in structuring and negotiating VC investments. Furthermore, they must be abreast of emerging trends and issues involving emerging technologies to identify due diligence red flags.
Join a panel of key thought leaders and professionals assembled by The Knowledge Group as they provide the audience with an in-depth analysis of the transactional terms and structure of a VC investment. Speakers will also share practical tips and strategies to help practitioners in the evolving legal climate.
Key topics include:
- Investment Terms at Various Stages of a Company’s Lifecycle
- Seed Funding Instruments
- Primary Investment Documents
- Stock Purchase Agreement
- Convertible Preferred Stock
- Investor Rights
- Due Diligence Issues
Shearman & Sterling
Perkins Coie LLP
- Investment terms dependent on stage of company lifecycle:
- Pre-Series A Stage: Low cost form documents often used, providing minimal protection for investors
- Series A: Address different interests between investors and founders
- Middle rounds: Balance between early/late stage rounds
- Late Stage Rounds: Address different interests between investors in high-price and low-price rounds
- Pre-IPO rounds:
- Focus is on protecting high-price preference from lower price exit (sale or IPO)
- Forms of price protection (seniority, IPO ratchets, minimum return provisions, series votes, etc.)
- Providing liquidity to founders/early round investors
- Strategic investors/corporate venture capital:
- Strategic/commercial considerations in addition to financial
- Acquisition rights: Advance notice/ROFO/ROFR/purchase option
Michael Dorf is a partner in the Mergers & Acquisitions practice.
He has extensive experience in U.S. domestic and cross-border M&A transactions, carve-outs, venture capital financings, strategic investments, joint ventures and corporate partnering transactions.
He has represented public and private companies, private equity funds, venture capital investors and sovereign wealth funds in the technology, media, telecommunications, biotechnology, health care, renewable energy, consumer products and other industries. In addition, Michael represents portfolio companies of private equity clients, handling day-to-day legal activities, add-on acquisitions, and other general corporate work.
Michael Dorf is a partner in the Mergers & Acquisitions practice. He has extensive experience in U.S. domestic and cross-border …
Transactional business attorney Arman Pahlavan advises venture capital and private equity funds and their portfolio companies across their legal needs. He counsels them on mergers and acquisitions, corporate finance, intellectual property transactions and fund formation matters. Arman has extensive experience advising clients with emphasis on cross border transactions for corporate clients and in his investment company practice. His knowledge runs across industry lines including software/mobile, AR/VR, cryptocurrencies/blockchain, digital health/life sciences, and energy technologies.
With an aggregate transaction value measured in billions, Arman represents clients based in Silicon Valley and throughout the country and abroad in a multitude of transactions. He has served as fund counsel to various funds and represented public companies and foreign private issuers in their securities matters.
Arman has been an active participant in industry symposiums and roundtables, including events sponsored by VentureOne Summit, BayBio, Healthtech Women and Idea to IPO. Topics he has spoken on include term sheet best practices and funding strategies for emerging companies, smart grid investments, robotics and artificial intelligence. Arman is active in the investment community and has been able to garner first institutional round investments and CEO placements for his clients over the years to advance their growth and funding prospects.
Transactional business attorney Arman Pahlavan advises venture capital and private equity funds and their portfolio companies across their legal needs. …
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Method Of Presentation:
General knowledge of corporate investment
NY Category of CLE Credit:
Areas of Professional Practice
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About Shearman & Sterling
From complex cross-border transactions to exclusively local deals, clients rely on Shearman & Sterling’s vast international network to help accomplish their business goals. The firm has approximately 850 lawyers in 20 offices around the world, and its lawyers come from some 80 countries, speak more than 60 languages and practice US, English, EU, French, German, Italian, Hong Kong, OHADA and Saudi law. They also practice Dubai International Financial Centre law and Abu Dhabi Global Market law.
About Perkins Coie LLP
Perkins Coie is a leading international law firm that is known for providing high value, strategic solutions and extraordinary client service on matters vital to our clients’ success. With more than 1,000 lawyers in offices across the United States and in Beijing, Shanghai and Taipei, we provide a full array of corporate, commercial litigation, intellectual property and regulatory legal advice to a broad range of clients, including many of the world’s most innovative companies and industry leaders as well as public and not-for-profit organizations.