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.
Gunderson Dettmer represented client Prosus Ventures as it co-led the $37 million Series A financing of Virgio, an India-based fashion-tech startup and fast fashion brand.
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.
Parallel Bio, a biotechnology company, announces its $4.3 million seed round led by Refactor Capital.
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.
Gunderson Dettmer’s Singapore office continues to be ranked Band 1 in Startups & Emerging Companies (Singapore) by Chambers and Partners. Singapore managing partner Jonathan Pentzien was honored as a Band 1 Leading Individual for the third consecutive year. David He, who was elected to the partnership in January 2022, was newly ranked Up and Coming by Chambers.
Kuona, an enterprise SaaS company, announces its $6 million seed financing led by Cometa.
BillionToOne announces $48.5 million equity and $35 million debt financing to execute a growth strategy for its prenatal and oncology products.
Gunderson Dettmer has elected 11 new partners, effective January 1, 2023. These elevations add to the firm’s Corporate and Securities, Executive Compensation, Fund Formation, and Licensing, Strategic Partnering and Commercial Transactions practices.
Gunderson Dettmer and Holistic AI host the Regulating Artificial Intelligence in Employment: How to Comply and Best Practices Webinar.
U.S. Venture Partners announces its new $400 million fund to continue partnering with entrepreneurs to transform their ideas into world-changing companies.
CognitiveScale, a developer of machine-augmented intelligence software, announces its acquisition by Tecnotree.
NotCo, a Chile-founded plant-based food technology company, announces its $70 million Series D extension led by Princeville Capital.
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 10th annual NEVY Awards.
Union Square Ventures announces its new $200 million Climate Fund dedicated to investing, mitigating, and adapting to climate change.
Juno Medical, a modern healthcare service provider, announces its $12 million Series A financing co-led by Next Ventures and Serena Ventures.
Pebble Health, a healthcare platform, announces its $12 million second seed financing led by XYZ Venture Capital.
Seedz, an agtech customer engagement platform, announces its $16.5 million Series A financing led by Alexia Ventures.
Companies are increasingly using automation and artificial intelligence (“AI”) to identify and hire qualified candidates more efficiently, accurately, and objectively. In response, regulators and legislators are beginning to enact laws that address AI’s potential for bias and perceived lack of transparency and accountability. New York City Council enacted Local Law 144 of 2021 (“LL 144”) in December 2021, and similar local, state, and federal efforts are on the horizon.
Kapu, a social commerce company, announces its $8 million seed financing co-led by Giant Ventures and Firstminute Capital.
2022 marks Gunderson Dettmer's 10th anniversary in China. Zhen Liu, Head of Gunderson Dettmer's China Practice, together with Beijing partners David Wang and Richard Chang, shared their views in this tribute video to celebrate Gunderson Dettmer's successful decade in China.
Anduril Industries, a defense technology company, announces its $1.48 billion Series E financing led by Valor Equity Partners.
HC9 Ventures announces the launch of its $83 million new fund to invest in early-stage healthcare startups that will shape the future of healthcare.
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.
Zapping, an internet subscription TV service company, announces its acquisition of Brazil-based Guigo Television.
Emerging Venture Capitalist Association recognizes 13 investors from Gunderson Dettmer venture capital firm clients in its 2022 EVC List.
Gunderson Dettmer sponsors the 2022 Deloitte Technology Fast 500 Award, for the fastest-growing private and public companies in technology and 24 Gunderson Clients were recognized.
7 Gunderson Dettmer clients recognized on The Best Inventions of 2022 list by Time Magazine.
Georgian co-led the $80 million Series C financing of Contentstack, a content experience platform.
Gunderson Dettmer represented client Sequoia Capital India as an investor in the $90 million Series A financing of Arta Finance, a California-based digital family office. Other notable investors included Ribbit Capital, Coatue, and over 140 tech and finance entrepreneurs, such as Betsy Cohen, Eric Schmidt and Ram Shriram.
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