Gunderson Dettmer is again ranked for the third quarter in a row the “most active law firm globally” in Pitchbook’s Global Venture Capital League Tables. Q3 2021 data confirms 450 global financings with late-stage financings valued at $40 billion and early-stage financings valued at $7 billion, equating to a total of $47 billion financed worldwide.
Gunderson Dettmer continues to earn top rankings as the #1 VC Law Firm Globally in PitchBook’s Global Venture Capital League Tables. In addition, the PitchBook database confirms that Gunderson Dettmer handled more venture and growth equity transactions in India and Southeast Asia for Q3 2021 than any other law firm in the world.
Gunderson Dettmer represented client Kueski, a Mexico City-based “buy now, pay later” and online consumer lender, in its $202 million equity (primary and secondary) and debt financing.
Gunderson Dettmer represented client Commonwealth Fusion Systems, an energy research company, in this $1.8 billion Series B financing, the largest funding round ever by a Massachusetts company.
Gunderson Dettmer represented client Eclipse Ventures in the formation of its new $510 million early growth fund.
Gunderson Dettmer represented client Prosus Ventures, a venture capital firm investing in internet and technology companies, as an investor in the $135 million Series B financing of Mensa Brands, an India-based startup that helps digital brands scale operations. This round has led Mensa Brands to become India’s (and Asia’s) fastest unicorn.
On November 3, the staff of the Division of Corporation Finance (the “staff”) of the U.S. Securities and Exchange Commission (the “SEC” or “Commission”) issued new Staff Legal Bulletin No. 14L (“SLB 14L”) relating to shareholder proposals under Rule 14a-8 of the Securities Exchange Act of 1934 (“Rule 14a-8”). SLB 14L rescinds three previously issued legal bulletins and expressly states that the staff may no longer permit companies to exclude from their proxy statements certain shareholder proposals that raise significant environmental or social issues that would have been excludable in the past.
Gunderson Dettmer represented client Facet.ai, an image editing platform, in its $13 million Series A financing led by Two Sigma Ventures.
Gunderson Dettmer represented client Monk’s Hill Ventures, a venture capital firm investing in early-stage Southeast Asia tech companies, in its $19.5 million Series A financing of Hypefast, an Indonesian e-commerce brand aggregator.
Gunderson Dettmer is pleased to announce its Returning to the Workplace Survey Report. This report summarizes the data gathered from over 250 VC firms.
Gunderson Dettmer represented client Daily Harvest, a provider of subscription-based food delivery services, in its Series D financing led by Lone Pine Capital.
Gunderson Dettmer advised Backblaze, a provider of cloud storage and backup services for developers, on its initial public offering. Backblaze makes storing and using data astonishingly easy.
Gunderson Dettmer represented client Keyway, a commercial real estate technology platform, in its $15 million Series Seed financing led by Canvas Ventures.
Gunderson Dettmer represented clients Illumina Ventures, Section 32, and Tao Capital Partners as investors in the $215 million Series B financing of Arbor Biotechnologies, a developer of transformative therapeutic products.
Gunderson Dettmer represented client Raine Venture Partners as an investor in the $120 million Series D financing of Jackpocket, a developer of a mobile lottery app.
Gunderson Dettmer represented client Wrapbook, a payroll and production management platform, in its $100 million Series B financing led by Tiger Global Management.
Gunderson Dettmer represented client isaac, a school financial management platform, in its $125 million Series B financing led by General Atlantic.
UPDATE: On November 12, 2021, the U.S. Court of Appeals for the Fifth Circuit issued an order staying enforcement and implementation of OSHA’s COVID-19 “vaccine or test” emergency temporary standard (ETS).
This is an update to our October 1, 2021 Preparing for a Return to the Workplace, Employers Are Making Big Decisions (UPDATED) article.
Gunderson Dettmer represented client VergeSense, a San Francisco-based company developing technologies to track physical office usage, in its $60 million Series C financing led by Scale Venture Partners.
Gunderson Dettmer represented client H2O.ai, an open-source machine learning automation platform, in its $100 million Series E financing led by the Commercial Bank of Australia bringing the company’s valuation to $1.6 billion.
Gunderson Dettmer represented client MilkRun, a subscription service delivering weekly grocery staples sourced from small, local farms, in its $6 million Series A financing led by Spark Capital.
Gunderson Dettmer represented clients Sequoia Capital and Tiger Global as investors in the $251 million Series E financing of Groww, an Indian online investment platform.
Gunderson Dettmer represented clients D1 Capital and Galaxy Interactive as investors in the $150 million Series C financing of Mythical Games, an operator of a gaming technology studio.
On October 14, the U.S. Securities and Exchange Commission (SEC or Commission) announced the reopening of the comment period on its executive compensation clawback rule, initially proposed in 2015 to implement Section 954 of the Dodd-Frank Act, which calls for the Commission to direct the U.S. stock exchanges to establish listing standards requiring listed companies to adopt, comply with and provide disclosure about a compensation recovery (or “clawback”) policy applicable to incentive-based compensation received by current and former executive officers in the event of certain financial restatements.
Gunderson Dettmer represented client Section 32 in the formation of its $740 million fourth fund, Section 32 Fund 4, L.P. The new fund will enable the firm to scale up its investments in companies focused on technology and healthcare.
Gunderson Dettmer has signed a commercial agreement with legal technology startup DraftWise, following a successful pilot of their flagship platform.
Gunderson Dettmer represented client Hallow, an audio-guided meditation and prayer app, in its $40 million Series B financing led by Drive Capital.
Gunderson Dettmer represented client Tiger Global as it led the $100 million Series C financing of Moka, a SaaS-based HR platform.
Gunderson Dettmer represented client China Creation Ventures (CCV) as it led the $50 million Series B financing of Newrizon, a developer of new energy commercial vehicles also known as QianChen Automobile.
Gunderson Dettmer represented client TurtleTree, a Singapore food and biotech startup, in its $30 million Series A financing led by VERSO Capital. With offices in both Singapore and California, the company plans to use its new capital to continue developing IP technologies, research new applications and expand its team to further accelerate the full commercialization of cell-based milk.
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