What You Need to Know About Erisa and Accepting Capital Commitments from “Benefit Plan” Investors

ERISA is a U.S. federal statute which regulates, among other things, the management and investment of assets of employee benefit plans (such as U.S. pension plans, 401(k) plans and their related trusts). Importantly, ERISA’s regulations cover not just the employee benefit plans themselves, but also any entity deemed to hold […]

Issues for Consideration When a Managing Director Departs Your Firm

While we advise on this topic daily, hopefully most of our fund clients will only have to think about matters related to the departure of senior investment professionals, i.e. managing directors (MD’s) a small handful of times in their organizational lives. Having an MD depart your firm is not a […]

A Primer on “Freedom of Information Act” (FOIA) Issues for VC Fund Managers

In the United States, at both the federal and state level, investors that are public agencies (such as state and local government employee pension funds, public university endowments, etc.) are usually subject to rights of members of the public to request information about their activities by way of a “freedom […]

I Have a Deal in the Pipeline, but My New Fund Hasn’t Closed Yet – Help!

The Cooley fund group hears from clients with great frequency that an opportunity to make an attractive portfolio company investment – perhaps in a competitive deal, where access is limited – needs to be captured before the scheduled closing of their new venture capital fund. The dilemma comes up from […]

Q4 2017 Venture Financing Report and Commentary From Michael Ronen of SoftBank Investment Advisers

Michael Ronen from SoftBank Investment Advisers discusses his take on the state of venture capital investing. On market fluctuations: Investing is a cyclical business, but we continue to feel good about our outlook because we generally take a long-term view, backing seasoned management teams and differentiated technologies with significant capital […]