News & Analysis as of

Venture Capital Pay-To-Play

Goodwin

The 15-Minute Founder’s Guide: Pay-to-Play Transactions

Goodwin on

If your startup continues to follow the proverbial “hockey stick” of uninterrupted, exponential growth that you presented in your seed round pitch deck, you might always have easy access to capital and never encounter a...more

SEC Compliance Consultants, Inc. (SEC³)

Regulatory Roundup for August 2024

More Flack on WhatsApp, Hypothetical Performance SmackDown, A Timely Warning on the Pay-to-Play Rule, and Updates to Qualifying Venture Capital Fund Exemption - This month's big news from the SEC was more piggy-bank breaking...more

Blake, Cassels & Graydon LLP

“Pay-to-Play” Provisions Making a Return in Venture Financing

In recent months, we have begun to see venture financing rounds that include the negotiation of “pay-to-play” provisions. These provisions have been largely absent in recent years due to the buoyant financing environment....more

Goodwin

Exempt Reporting Advisers Faced Significantly More SEC Enforcements in 2022

Goodwin on

The Securities and Exchange Commission (SEC) brought an unusually high number of enforcement actions against exempt reporting advisers in 2022 — that appears to be more than the prior three years combined and a record number...more

Morgan Lewis

Corporate Venture Capital Survey: Q2 2020

Morgan Lewis on

During the second quarter of 2020, corporate venture capital (CVC) programs at major companies continued to make significant investments in promising startups and late-stage enterprises. In this survey, we track investment...more

Morgan Lewis

Corporate Venture Capital Survey: Q1 2020

Morgan Lewis on

During the first quarter of 2020, corporate venture capital (CVC) programs at major companies continued to make significant investments in promising startups and late-stage enterprises. In this survey, we track investment...more

Fenwick & West LLP

What is a “Pay-to-Play” Financing?

Fenwick & West LLP on

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

Fenwick & West LLP

Silicon Valley Venture Capital Survey – Fourth Quarter 2018 - First Look

Fenwick & West LLP on

Background – We analyzed the terms of 234 venture financings closed in the fourth quarter of 2018 by companies headquartered in Silicon Valley. We found that valuation results are at three-year highs, with the software...more

Morgan Lewis

Corporate Venture Capital Survey: Q1 2018

Morgan Lewis on

During the first quarter of 2018, corporate venture capital (CVC) firms and groups continued to make significant investments in promising startups and late-stage enterprises. In this survey, we analyze the key economic terms...more

Fenwick & West LLP

Silicon Valley Venture Capital Survey - Second Quarter 2018

Fenwick & West LLP on

We analyzed the terms of 225 venture financings closed in the second quarter of 2018 by companies headquartered in Silicon Valley. Overview of Fenwick & West Results - Valuation results continued to be strong in Q2...more

Morgan Lewis

Corporate Venture Capital Survey: Q1 2017

Morgan Lewis on

During the first quarter of 2017, corporate venture capital (CVC) programs at major companies continued to make significant investments in promising startups and late-stage enterprises. In this survey, we briefly review...more

Fenwick & West LLP

Trends in Legal Terms in Venture Financings in Israel - Full Year 2016

Fenwick & West LLP on

Background — We have analyzed the terms of venture financings for Israeli and Israeli-related technology companies that reported raising money during the year 2016. Our survey does not include financing rounds of less than US...more

Fenwick & West LLP

Silicon Valley Venture Capital Survey - First Quarter 2017

Fenwick & West LLP on

We analyzed the terms of 191 venture financings closed in the first quarter of 2017 by companies headquartered in Silicon Valley. Overview of Fenwick & West Results - Venture valuations showed small...more

Proskauer - The Capital Commitment

The Top Ten Regulatory and Litigation Risks for Private Funds in 2017

Private investment funds and advisers are likely to face new regulatory challenges and increased litigation risks in 2017, not only because of a change in the administration, but also because many advisers have not corrected...more

Stinson - Corporate & Securities Law Blog

Pay-to-Play Enforcement Sweep Snares Private Equity and Venture Capital

On January 17, 2017, the SEC announced nine settled enforcement actions for violations of the pay-to-pay rule against private equity, venture capital and hedge fund sponsors. The firms involved agreed to pay monetary...more

McCarter & English, LLP

Anatomy of a Term Sheet: Series A Financing (Q2 2016)

A key milestone in the lifecycle of many successful companies (and, admittedly, many unsuccessful companies) is obtaining financing from angel or venture capital investors, but in negotiating with experienced investors...more

McCarter & English, LLP

Anatomy of a Term Sheet: Series A Financing

A key milestone in the lifecycle of many successful companies (and, admittedly, many unsuccessful companies) is obtaining financing from angel or venture capital investors, but in negotiating with experienced investors...more

Mintz

Venture Capital Trends: East Meets West – Lewis Geffen, Co-chair, Venture Capital Practice

Mintz on

Lewis Geffen discusses US venture capital trends and how they have migrated from the West Coast to the East Coast and vice versa. For example, East Coast investors have become more “company-friendly” with their terms, due to...more

Wilson Sonsini Goodrich & Rosati

The Entrepreneurs Report - Q1 2014

Wilson Sonsini Goodrich & Rosati’s experience confirms reports that the market remains positive overall, with up rounds comprising more than three-quarters of all venture deals in Q1 2014, the highest proportion in several...more

Fenwick & West LLP

Silicon Valley Venture Survey - Third Quarter 2013

Fenwick & West LLP on

We analyzed the terms of venture financings for 128 companies headquartered in Silicon Valley that reported raising money in the third quarter of 2013. Overview of Fenwick & West Results - Valuation results in...more

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