Venture Capital

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As a result of significant changes impacting the financial markets in recent years, venture capital has taken on greater significance as a critical funding source for emerging businesses. Dechert’s Venture Capital group applies broad-based experience to assist venture and growth capital clients in all types of venture capital transactions. We advise on fund formation, investment structuring and management, corporate and intellectual property due diligence, as well as on investment exit strategies and execution. We also help introduce entrepreneurs and investors, assisting venture capital firms in finding companies to invest in while assisting emerging growth companies in obtaining the funding they need to grow.

Our investor clients include international, national and regional venture capital funds, registered investment companies, affiliates of money center banks, alternative and “crossover” funds, corporate strategic investors, incubators and, on occasion, even angel investors. Drawing on our comprehensive resources around the globe, Dechert provides investor clients with proactive and innovative legal solutions, enabling investors to focus on sourcing, evaluating and executing transactions.

Fund Formation

Dechert advises major funds and principals on fund formation and capital raising. We are experienced representing funds investing in U.S. and international markets and our offshore experience includes funds in locations such as the Bahamas, Bermuda, the Cayman Islands, BVI, Japan, Israel, Singapore and nearly all European jurisdictions. We also help venture capital fund clients evaluate the merits of various fund structures and advise institutional and corporate investors in reviewing their proposed investments in venture capital funds, negotiating investment terms and documentation.

Investments

Consistently ranked among the “most active law firms” by Private Equity Analyst for total number of private equity and venture capital deals, Dechert advises venture and growth capital funds, as well as promising young companies, at all stages of the investment process. We assist in seed funding of small, start-up portfolio companies, advise on expansion capital rounds for venture-stage companies, structure funding of initial and milestone-dependent equity investments and execute on exit strategies. Our attorneys negotiate and draft all necessary documentation, from initial term sheets to definitive transaction documents.

We evaluate and execute investments across a wide range of industries, from biotechnology and cleantech to software, information technology and hardware to any industry sector in which our clients are actively investing. Our knowledge of specific industries and business context for proposed financings enables us to structure financings to meet our clients’ specific needs and objectives and to anticipate and respond effectively to industry-specific issues raised in the financing process.

Portfolio Company Transactions

Dechert offers comprehensive legal services to portfolio companies, from their inception through their initial public offering or sale and beyond. Our venture capital attorneys work collaboratively with lawyers from other disciplines ranging from intellectual property and regulatory to tax law, identifying the critical legal issues, such as patents and licensing arrangements, tax structuring, employment and compensation matters and potential litigation, that require resolution while being mindful of the limited resources available to a growing company.

Global Reach

With transactional lawyers located throughout the United States and in London, Brussels, Paris, Munich, Luxembourg and Hong Kong, Dechert regularly assists clients seeking to establish or expand their international footprints in developed and emerging markets around the world. In particular, we offer venture capital funds and their portfolio companies, as well as promising young companies, guidance on cross-border commercial and collaboration arrangements, international tax, environmental and regulatory matters and cross-border financings.