Venture Capital

Bingham has extensive experience representing venture capital funds in:

• Organizational matters
• Negotiating and documenting their investments in portfolio companies
• Representing clients in multiple rounds of preferred stock and other financings

We work with many different types of companies across many industries, including:

• Software and hardware
• Life sciences and health care
• Telecommunications
• Internet infrastructure and e-commerce
• Energy

Operations

Whether your portfolio investment is a life sciences or software company, our lawyers have operational experience that can help a company build commercial value in addition to raising capital. We understand that strategic collaborations of one kind or another with key business partners are central to the success of a business. Our life science and commercial transactional experience includes:

• Licensing (both as licensor and licensee)
• Technology transfers and assignments
• Development arrangements
• Distribution deals
• Strategic collaborations
• Joint ventures
• Systems integration
• Outsourcing

When we assist companies with structuring their transactions, our focus is on business objectives guided by legal insight.

Intellectual Property

Our attorneys handle intellectual property matters for clients in a diverse range of industries, focused on protecting the company and its products for the long term, while maximizing revenue opportunities. Advice and representation related to IP — ranging from patent prosecution to situations that threaten or result in litigation — is often critical to the success of VCs’ portfolio companies. With additional support from our nationally reputed team of litigators, the firm is positioned to avoid or resolve IP-related issues as quickly and successfully as possible.

Deal Flow

Bingham regularly refers prospective investment opportunities to our venture capital clients and contacts. Our Emerging Growth Companies Practice, in which many of our venture capital lawyers participate, is organized specifically to address the many needs of entrepreneurs, including the requirement for significant capital. We advise these companies from start-up and early stage investing, through expansion and growth and, ultimately, the exit stage, whether a public offering or a sale.

Private Equity

Venture capital funds often own a significant percentage or a majority of a portfolio company. Bingham has experience structuring the debt and equity layers that are often necessary for the financing of such acquisitions. We also bring our tax practice to the table. Understanding that a management team must have sufficient incentives to drive the business to success, we also help structure equity and other compensation arrangements on a going-forward basis.

Complex Financings

We guide venture capitalists through complex bridge convertible debt and equity financings where there are often risks to the existing investors, particularly in the case of insider-led rounds. These are often situations in which the interests of the company, other investors and the venture capitalist must be carefully managed. We also advise on the fiduciary duties of board of director representatives, employment and compensation concerns, issues that arise in mergers and acquisitions and other exit scenarios, and general corporate governance matters that may surface from time to time for the venture capitalist.

International Experience

Many of our venture capital lawyers have international experience. We act as counsel for non-U.S. venture funds investing in U.S. companies as well as U.S. venture funds investing in companies abroad. We regularly advise on deal structures suitable for different markets and legal regimes. We also represent venture funds in connection with liquidity events such as cross-border acquisitions and equity sales.