Gunderson Dettmer client and container intelligence platform Sysdig announced its $70 million Series E financing. The latest round of funding was led by Insight Partners. Previous investors Bain Capital Ventures and Accel participated, with Glynn Capital and Goldman Sachs also joining this round.
Gunderson Dettmer client Two Sigma Ventures announced its newest fund with $288 million. The firm is the venture capital arm of Two Sigma Investments, and pursues investments in early stage enterprise, consumer-facing and healthcare-focused companies.
This Alert highlights annual reporting requirements applicable to equity-based compensation that may need to be addressed by clients in early 2020.
Gunderson Dettmer client and cloud-based accounting software company FloQast announced its $40 million Series C financing. The fresh round of funding was led by Norwest Venture Partners with participation from Insight Ventures and Polaris Partners.
Gunderson Dettmer client and leading mobile mash-up game developer Storm8 announced its acquisition by Stillfront Group, a global group of gaming studios and a market leader in the free-to-play online games genre, for a total upfront consideration of $300 million with up to an additional $100 million if certain targets are met.
Gunderson Dettmer client and subscription-based digital sports company announced its $50 million Series D financing. The fresh funding round was led by Bedrock Capital with participation from Emerson Collective, Powerhouse Capital and other existing investors.
Feature management platform software company LaunchDarkly, a Gunderson Dettmer client, announced an additional $54 million in a funding round led by Bessemer Venture Partners. Participating investors included Threshold Ventures, Redpoint Ventures, Uncork Capital, Vertex Ventures and Bloomberg Beta.
Gunderson Dettmer client and Seattle-based growth and venture capital firm Frazier Healthcare Partners has announced closing its latest and largest Life Sciences fund with $617 million of committed capital. The firm’s twelfth fund, the third dedicated life sciences fund, will continue its three-pronged strategy of investing in company creation, early-stage and late private/public opportunities.
The annual deadline for filing certain initial Schedules 13G, an amendment to a previously filed Schedule 13G, an initial Schedule 13F filing, and an annual update to a previously filed Form 13H with the Securities and Exchange Commission (the “SEC”) for the year ended December 31, 2019 is Friday, February 14th. As you may remember from prior years, all Schedule 13G and 13F filings, including amendments, and Form 13H filings, including annual updates, must be filed electronically through EDGAR. As a result, we will be working with a financial printer in connection with these Section 13 filings. Finally, we would like to give our clients who have previously filed a Form ADV with the SEC a reminder that your firm will be required to file an annual updating amendment to such Form ADV by the deadline of Monday, March 30th.
Gunderson Dettmer client and DNA sequencing technology company Element Biosciences has raised $80 million in a Series B financing. The funding round included investors Fidelity Management & Research Company, JS Capital, Foresite Capital and Venrock.
Gunderson Dettmer is ranked eleventh in RSG Consulting’s 2019 Top 50 Foreign Law Firms league table focused on firms practicing in India.
Gunderson Dettmer client Resolution Economics, a specialty consulting firm that provides economic and statistical analysis to leading law firms and corporations, announced its acquisition by LA-based private equity firm Levine Leichtman Capital Partners.
Recently-promoted fund formation partner Jonathan Goodwin was named to the inaugural Venture Capital Journal “40 Rising Stars under 40” list.
The New York Stock Exchange LLC (“NYSE”), on December 11, 2019, filed a revised rule change proposal which would permit companies to sell shares in connection with its direct listing as well as make the direct listing process easier for more companies.
Gunderson Dettmer client and growth equity firm Volition Capital announced its latest funds, totaling $600 million. The Boston-based firm raised $400 million for Volition Capital Fund IV, L.P., and $200 million for its first select fund, Volition Capital Select Fund I, L.P.
Gunderson Dettmer client Tusk Venture Partners announced the final close of its second fund, TVP II, L.P. with a fund size of $70 million. The New York-based venture capital firm invests in technology startups operating in highly-regulated markets.
On September 18, 2019, California Governor Gavin Newsom signed into law Assembly Bill 5 (“AB 5”), which will bring sweeping changes to the manner in which workers in California are classified as either independent contractors or employees when the new law goes into effect on January 1, 2020. AB 5 generally follows the “ABC” test that the California Supreme Court adopted in its 2018 ruling in Dynamex Operations West, Inc. v. Superior Court of Los Angeles (“Dynamex”), with certain notable exceptions for a small number of specific occupations and industries.
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP has elected seven new partners, effective January 1, 2020. The new partners are a diverse group and represent three different practice groups and three different U.S. offices.
On December 6, 2019, the Securities and Exchange Commission (SEC) rejected a proposed rule which would have permitted companies to sell shares in connection with its direct listing on the New York Stock Exchange LLC (NYSE), as well as make the direct listing process easier for more companies.
Gunderson Dettmer client and forensics genomics company Verogen has acquired GEDmatch, a pioneer in consumer genealogy.
Gunderson Dettmer client and enterprise customer service platform Kustomer raised $60 million in Series E funding. The financing was led by Coatue with participation from existing investors Tiger Global Management and Battery Ventures.
Gunderson Dettmer client and Mexican small-business lender Konfio raised $100 million in a new financing. The funding round was led by SoftBank and with participation from existing investors QED Investors, Kaszek Ventures and Vostok Emerging Finance Ltd.
The New York Stock Exchange LLC (“NYSE”), on November 26, 2019, proposed a rule change which would permit a company to sell shares in connection with its direct listing as well as make the direct listing process easier for more companies.
Gunderson Dettmer client and enterprise automation workflow integration company Tray.io announced its $50 million Series C financing. The funding round was led by Meritech Capital with participation from Spark Capital, GGV Capital, and True Ventures.
Gunderson Dettmer client and leading video review and collaboration platform Frame.io announced its $50 million Series C financing. The funding round was led by Insight Partners and included participation from Accel, FirstMark, SignalFire and Shasta Ventures.
Gunderson Dettmer client and cloud-based e-commerce support platform VTEX announced a $140 million financing. The funding round was led by SoftBank, via its Latin America fund, with participation from Gávea Investimentos and Constellation Asset Management.
Gunderson Dettmer client and single cell genomics-based drug discovery company Immunitas Therapeutics announced its $39 million Series A funding. The round was led by Leaps by Bayer and Novartis Venture Fund with participation from Evotec, M Ventures, Alexandria Venture Investments and other institutional investors.
Gunderson Dettmer is again ranked “most active law firm globally” in PitchBook’s Global Venture Capital League Tables. This result reflects Gunderson Dettmer’s continued market leadership in the venture capital marketplace and reinforces previous recognition as the most active law firm in the world in PitchBook’s 2014, 2015, 2016, 2017 and 2018 annual industry reports.
Gunderson Dettmer has been shortlisted for the RSG Grow India Award for Most Increased Foreign Law Firm Profile 2019.
Gunderson Dettmer founding partner Jay Hachigian shared his views on why Boston is a thriving center of innovation, and how Gunderson is part of the Boston success story, in HubWeek’s ChangeMaker series.
Among other insights, he shared “I always tell our associates that in today’s world, you have to be great at something. It doesn’t matter what you’re great at, but if you stick to it, clients will come to appreciate that expertise and will seek you out when they have a matter that needs attention.”
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