Month: June 2020

Let the Spigot Open: Volcker Rule Relaxed to Allow More Bank Investments in VC Funds

Prior to the effectiveness of the Volcker Rule in April, 2014, we more regularly saw banks participating as limited partners in venture capital funds. The rule placed significant limitations on banks’ ability to make investments in private funds, and over the last 6 years the frequency of investment and capital […]

Luke Bagley / June 26, 2020

Primers

Primer: U.S. Tax Considerations for Venture Capital Funds

We are frequently asked by our fund manager clients about what tax issues they should consider when forming a new venture capital fund or investing in portfolio companies. In this post, we outline a few key considerations for fund managers, highlighting changes included in the Tax Cuts and Jobs Act […]

Stephanie Gentile, Aaron Pomeroy and Rick Jantz / June 12, 2020

Legacy Venture

Advised Legacy Venture X on its $350 million closing.

Menlo Ventures

Advised Menlo Ventures on the closing of Menlo Ventures XV, a $500 million venture capital fund.

Owl ventures

Advised Owl Ventures on the closing of two funds totaling $585 million to support Edtech

M13 Ventures

Advised M13 on the closing of its second $175 million fund focusing on early stage retail, healthcare, personal finance, and food companies.

Redpoint Ventures

Advised Redpoint Ventures on the closing of its eighth early stage fund at $500 million.

Qiming Venture Partners

Advised Qiming Venture Partners on the closing of its seventh fund at the target amount of $1.1 billion.

Lux

Advised Lux Capital on raising more than $1 billion across two funds, with $500 million raised for its sixth early-stage fund and $550 million raised for its second opportunity fund focused on growth-stage investments primarily in existing Lux portfolio companies.

Box Group

Advised BoxGroup on the closing of two funds, an early stage fund and an opportunity fund, at $82.5 million each.

Norwest Venture Partners

Advised Norwest Venture Partners on the closing of its largest fund to date at $2 billion, bringing its total capital commitments to more than $9.5 billion.

GGV Capital

Advised GGV Capital on the closing of its new funds totaling $1.88 billion. The new funds include GGV Capital VII and VII Plus, GGV Discovery II and GGV Capital VII Entrepreneurs Fund

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Month: June 2020

Let the Spigot Open: Volcker Rule Relaxed to Allow More Bank Investments in VC Funds

Primer: U.S. Tax Considerations for Venture Capital Funds