News

Gunderson Dettmer earned recognition as the Most Active VC Law Firm Globally and Most Active VC Law Firm in the United States in PitchBook’s Q3 2022 Global Venture Capital League Tables, raising over $9 billion in venture capital and growth equity financings in the third quarter for high-growth emerging companies worldwide.

Vannevar Labs, a defense technology company, announces its $75 million Series B financing led by Felicis Ventures.

On January 5, 2023, the Federal Trade Commission (FTC) formally proposed a rule banning employers from using non-compete agreements nationwide. The FTC’s proposed rule would make it an illegal and “unfair method of competition” for an employer to enter into or attempt to enter into a post-termination non-compete clause with any worker, or to maintain or threaten to enforce an existing non-compete provision against current or former workers. The ban would cover all post-termination non-competes and “de facto” non-competes with employees, independent contractors, interns, and volunteers, with exceptions for certain agreements entered into by a seller of a business and in the franchise context.

Gunderson Dettmer’s Singapore office has been ranked Tier 1 in Start-up and Venture Capital (Foreign Firms in Singapore) by The Legal 500. Singapore managing partner Jonathan Pentzien was named Leading Individual. David He, who was promoted to partner in January 2022, was the only lawyer ranked as a Next Generation Partner.

As 2023 begins, employers in the innovation economy face new employment law challenges, while attempting to navigate an uncertain economic terrain. At a time when many companies are recalibrating and focused inward, the federal government and numerous states are moving forward with bold employment-related initiatives.

Beijing partner Richard Chang has been recognized in the 2022 edition of China Business Law Journal’s A-List as one of China’s Elite International Lawyers.

On December 14, 2022, the U.S. Securities and Exchange Commission (SEC), displaying a rare united front, voted unanimously to adopt the first substantive reforms to Rule 10b5-1 under the Securities Exchange Act of 1934 (Exchange Act) since its enactment more than twenty years ago, and enhanced trading-related disclosure and reporting requirements applicable to public issuers and their insiders.

Inspired by California’s landmark privacy law (the California Consumer Privacy Act or “CCPA”) and the European Union’s General Data Protection Regulation (“GDPR”), state legislatures across the U.S. have been busy trying to replicate those laws in their own states. Several states have now passed privacy laws, many of which are substantially similar to the CCPA and the GDPR. Many other states are actively considering similar privacy legislation, and we expect to see another active year in the privacy world in 2023. This alert highlights key requirements in these new laws – specifically, the California Privacy Rights Act, the Virginia Consumer Data Protection Act, the Colorado Privacy Act, the Connecticut Act Concerning Personal Data Privacy and Online Monitoring, and the Utah Privacy Act (collectively, the “2023 State Privacy Laws”), and suggests practical steps companies should take to get ready. Note that some of the 2023 Privacy Laws are still pending final regulations, which could change the requirements.

Jolyn Ang, Singapore corporate associate, has been recognized by Asian Legal Business in its inaugural list as one of Singapore’s Rising Stars for 2022. The list features Singapore’s next-generation lawyers under 40 for their high-quality work.

Kuona, an enterprise SaaS company, announces its $6 million seed financing led by Cometa.

Gunderson Dettmer and Holistic AI host the Regulating Artificial Intelligence in Employment: How to Comply and Best Practices Webinar.

CognitiveScale, a developer of machine-augmented intelligence software, announces its acquisition by Tecnotree.

New England Venture Capital Association recognized Gunderson Dettmer client Affinivax’s sale to GSK for $3.3B as the Life Science Deal of the Year (2022) in its 10^th annual NEVY Awards.

Juno Medical, a modern healthcare service provider, announces its $12 million Series A financing co-led by Next Ventures and Serena Ventures.