Gunderson Dettmer advised underwriters Cantor Fitzgerald & Co. in a proposed $75,000,000 “at-the-market” offering of shares of Arcus Biosciences, Inc. Public Offerings/Public Companies partners Jeffrey Vetter and Richard Blake and associate Colin Conklin led the team advising Cantor Fitzgerald.
Gunderson Dettmer client Kyligence, a Shanghai-based data analytics company, has raised $25 million in Series C funding. The round was led by Coatue Management with existing investors Redpoint Ventures, Shunwei Capital and Eight Roads Ventures participating. The company plans to invest the fresh capital in its core technology and products as well as integration with other intelligence providers.
Newsela, a developer of an e-learning platform featuring student-tailored news and instructional content, has raised $50 million in Series C funding. The round was led by Technology Crossover Ventures.
NGINX, the company behind the popular open source project for developing and delivering modern applications, has agreed to be acquired by F5 Networks for approximately $670 million. F5 delivers cloud and security application services that enable the world’s largest companies, service providers and governments to embrace the infrastructure they choose.
Boston-based Wavecrest Growth Partners has closed their first with more than $190 million in commitments. Contributions from public pension funds, endowments and foundations, fund-of-funds, insurance companies and family offices were received for the fund.
Contrast Security, a cybersecurity platform designed to protect application software, has raised a $65 million Series D round of funding. The financing was led by new investor Warburg Pincus with existing investors Battery Ventures, General Catalyst, M12, AXA Venture Partners and Acero Capital participating.
Gunderson Dettmer client DoorDash has raised $400 million in Series F funding in a round led by Temasek and Dragoneer Investment Group. Existing investors SoftBank, DST Global, Coatue Management, GIC, Sequoia Capital and Y Combinator also participated in the financing. The funding came at a $7.1 billion valuation.
GoCardless, an online-payment platform network built for international recurring payments, has raised $75 million in Series E funding. The financing round was led by new investors Adams Street Partners, GV and Salesforce with participation from existing investors Accel, Balderton Capital, Notion Capital and Passion Capital.
Gunderson Dettmer client Gimlet Media was acquired by Spotify. Gimlet Media is the developer of a digital media platform that produces podcasts and enables listeners to engage in the podcasting community.
With 885 venture deals to its credit in 2018, 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, and 2017 annual industry reports.
TuSimple, a global autonomous trucking solutions company, has raised $95 million in Series D funding at a $1 billion pre-money valuation. The financing round was led by Sina Group and Composite Capital.
Zilingo, a Singapore-based fashion platform, recently raised over $200 million from investors including Sequoia Capital India and Temasek Holdings Pte.
Brian Huber, who will be resident in the Boston office, has significant experience advising fund managers on issues related to fundraising, GP management, and economics, including the tax and structuring aspects of fund formations and investments globally. He helps clients navigate complex issues in the evolving legal and regulatory landscape, such as the impact of recent tax reform on investment and organizational decision-making. Mr. Huber also has significant experience advising fund managers and investors in connection with secondary purchases and sales of fund interests.
Gunderson Dettmer was short-listed in five categories for Law.com's 2019 Asia Legal Awards.
Gunderson Dettmer client Greenoaks Capital led the financing of Clover Health, an operator of a health insurance platform for patient-centered analytics.
Gunderson Dettmer represented Lyndra Therapeutics, a developer of orally administered steady-state release pill, when it raised $55M in a Series B financing. The round of funding was led by Polaris Partners, with new investors HOPU Investments, Gilead Sciences, Invus, the Bill & Melinda Gates Foundation and Orient Life.
Globality, an AI-powered smart sourcing platform for large companies to find and manage service providers around the world, secured an investment of $100 million from the SoftBank Vision Fund.
Gunderson Dettmer acted as legal counsel to Pluto TV, a free ad-supported streaming service with 12 million monthly active users, in its acquisition by Viacom for $340M in cash.
Viking Global has co-led a $299.2M financing round for BridgeBio with KKR. Other existing investors including Perceptive Advisors, AIG, Aisling Capital, Cormorant Capital and Hercules Capital participated. BridgeBio, a clinical-stage biopharmaceutical company focused on genetically targeted therapies, was founded in 2015 and had previously raised $149M. The company will use the fresh capital to support its existing research and development programs as well as expand its efforts to rapidly develop new medicines.
This Alert briefly highlights certain reporting requirements, as well as certain other legal and regulatory developments, applicable to equity-based compensation as we begin 2019.
2019 Schedule 13G / Schedule 13F Filings, Form 13H Annual Update Filings, Annual Privacy Notice Mailing Requirement and Preliminary Reminder of Form ADV Annual Updating Amendment Requirements
Gunderson Dettmer announced today that David D. Gammell has joined the firm’s leading emerging companies practice, resident in the Boston office.
David Gammell is a prominent corporate lawyer known for his work representing emerging growth companies throughout their lifecycle as well as leading national and international venture capital and growth equity funds. With more than two decades of experience, he has a substantial practice advising early stage companies and entrepreneurs on formation matters, financings, mergers and acquisitions, intellectual property strategy, licensing, technology transfer and strategic alliances. He teaches at MIT and Harvard, and regularly serves as a panelist and judge at conferences and competitions focused on startups and venture-backed companies.
Plaid, a developer of a financial and banking services platform, has acquired Quovo. Quovo runs a similar platform on the investments side of the financial services business.
The SEC’s Division of Corporation Finance (and other divisions) will be largely closed during the pendency of the US Government shutdown.
Seismic, a developer of end-to-end sales enablement software, closed a $100M Series E round of funding. Investor Lightspeed Venture Partners led the round, with General Atlantic, JMI Equity and Jackson Square Ventures also participating.
Gunderson Dettmer earned "Deal of the Year for Asia," "Best M&A Deal in Asia" and "Best India Deal" in FinanceAsia’s Achievement Awards 2018 for its work in the US$16 billion acquisition of Flipkart Group by Walmart Inc. Gunderson served as international and M&A counsel to Flipkart Group, one of India’s largest e-commerce marketplaces, in the deal that made Walmart Inc. its largest shareholder. With the completion of the investment, Walmart now holds approximately 77 percent of Flipkart and the deal is reported to be the most highly-valued e-commerce deal in history.
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP has announced the promotions of five associates to the partnership, effective January 1, 2019.
InVision, a digital design collaboration platform, has raised $115 million. The Series F round was led by Spark Capital with the participation of Goldman Sachs and existing investors including Battery Ventures, ICONIQ Capital, Tiger Global Management, FirstMark Capital and Geodesic Capital.
Developer of financial and banking services platform, Plaid, raised $250 million in a Series C led by Kleiner Perkins with Spark Capital, New Enterprise Associates, Goldman Sachs and Index Ventures (UK) participating. The company is now valued at $2.65 billion, more than ten times its valuation in June 2016.
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