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Venture Briefing: IPO Market Picks Up, But Many Companies Prefer Staying Private Venture Briefing: IPO Market Picks Up, But Many Companies Prefer Staying Private

Venture Briefing: IPO Market Picks Up, But Many Companies Prefer Staying Private

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IPO Market Picks Up, But Many Companies Prefer Staying Private
Industry watchers hoping that companies might start going public sooner as they once did may be in for some disappointment. In fact, absent a dramatic development, it's far more likely that startups will continue staying private as long as they possibly can.
(Source: Tech Crunch, 2019-04-23) Read the full article
Low Turnover Among Corporate Directors Slowing Diversity Progress
Low turnover among corporate directors at the 3,000 largest publicly-held U.S. companies is slowing efforts to bring gender diversity to boards, a new report by The Conference Board found. The Corporate Board Practices in the Russell 3000 and S&P 500: 2019 Edition found that 20 percent of firms in the Russell 3000 index have no women on their boards, and that even though women are being elected as corporate directors in larger numbers than ever before, only four percent of board chair positions are held by women.
(Source: The Business Journals, 2019-04-29) Read the full article
Venture Capital Investments Continue Making Record-Breaking Run
After last year set a colossal record of $132.1 billion of venture capital invested in the U.S., VC activity in 2019 was expected to start slow, but instead valuations climbed to unprecedented levels, $100 million rounds became the new normal, and the beginning of what's expected to be a deluge of VC-backed IPOs kicked off in the first quarter, setting the pace toward a record exit value.
(Source: PitchBook, 2019-04-25) Read the full article
Amid Profitability, Small Businesses Applying for Financing
Small businesses' profitability and their success applying for financing held steady from 2017 to 2018, according to the latest Small Business Credit Survey -- a joint effort by the 12 regional Federal Reserve Banks. More than half of employer firms surveyed reported that they were profitable in 2018 and had seen increased revenues throughout the year.
(Source: ABA Banking Journal, 2019-04-16) Read the full article
Average P.E. Buyout Fund Raised Remarkable $1.7 Billion in 2019
In the first three months of 2019, U.S. private equity firms raised a typical amount of new capital across an unusually small number of funds, according to the latest edition of PitchBook's U.S. P.E. Breakdown. The average buyout fund in 2019 has raised nearly $1.7 billion, with the average sitting just shy of $1.6 billion for private equity funds of all kinds, representing upticks of around 70 percent compared to the whole of 2018.
(Source: PitchBook, 2019-04-23) Read the full article
Survey Finds Small Business Owner Optimism Declining
Small business owners' optimism is showing more signs of ebbing. According to a semiannual survey of owners by Bank of America, 48 percent of the 1,504 owners surveyed predicted that the national economy will improve over the next year, down from 55 percent in the survey taken last fall.
(Source: Minneapolis Star Tribune, 2019-04-29) Read the full article
Startup Accelerators Seek to Boost Diversity, But Fall Short
The big question around prestigious startup accelerators such as Y Combinator, Techstars and 500 Startups is, are they contributing to or working against the diversity challenges common in later-stage startups. In 2017, Y Combinator released their diversity numbers and despite making this issue a priority, only 22 percent of their companies were started by a female founder, eight percent by a black founder and four percent by a Latinx founder.
(Source: Forbes, 2019-04-26) Read the full article
2018 Private Equity Interest in Healthcare Hits Record Again
Private equity interest in healthcare hit a record again in 2018, according to Boston-based consulting firm Bain & Company. Bain's report on global healthcare private equity and M&A tallied 316 deals globally in 2018, an increase from 265 deals the year prior. Deal value reached $63.1 billion, the highest on record since 2006.
(Source: Healthcare Dive, 2019-04-18) Read the full article
Climate Worries Spurring Global Investments in 'Green' Startups
As the world confronts the reality that there's not much time left to reverse course on carbon emissions and the impact they will have on life on earth, both corporate and private investors are once again stepping up their commitments to startups in the space. In 2018, global venture capital investment into startups focused on sustainability jumped 127 percent, to $9.2 billion, the highest since 2010, according to a January report from Bloomberg New Energy Finance.
(Source: Tech Crunch, 2019-04-22) Read the full article
New Legislation to Allow Small Businesses Access to Association Plans
Last June, the Department of Labor finalized regulations to expand the opportunity to offer employment-based health insurance to small businesses through Small Business Health Plans, also known as Association Health Plans (AHPs). But a district court determined that the DOL's regulations are unlawful, leaving in limbo the creation of new AHPs. Now, a group of senators, led by Senator Mike Enzi, R-Wyoming, have introduced legislation that would ensure the new pathway remains available for small businesses to offer AHPs under the DOL's final rule.
(Source: Plan Sponsor, 2019-04-17) Read the full article
 
 
 
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Connect With Our Partners at Opus Connect's New York City Chapter Event
Tom Kesoglou Chris Bordoni Chase Stuart
Thomas Kesoglou Christopher Bordoni Chase Stuart

Ice Miller is proud to host the New York City Chapter of Opus Connect on Tuesday, May 16 from 12:00-2:00 p.m. at the offices of Ice Miller LLP at 1500 Broadway, 29th Floor. This event will include a discussion with Cybint Solutions CEO, Roy Zur titled: "Cybersecurity Risks Your Firm Should Know About". We would be delighted for you to join us! Register here.

 

New OZ Regulations Clarify Key Issues for Fund Operations and Investments

In its second tranche of proposed regulations issued with respect to federal Opportunity Zones (“OZ”) legislation released last week, the U.S. Department of Treasury ("Treasury") and Internal Revenue Service ("IRS") sought to clarify certain key issues for qualified opportunity fund (“QOF”) operations and investments. Read full article online.

 

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Ice Miller has been one of the most active law firms in the private equity industry over the last decade, representing both entrepreneurs building great companies and the private equity firms and individuals that invest in them.  We have extensive experience with all types of funds (formations and operations); mezzanine and senior secured financing; leveraged buyouts, roll-ups, build-ups, and consolidations; divestitures and exits; and complex litigation on behalf of investors and privately financed companies.  In addition, over the past 10 years, Ice Miller has represented hundreds of emerging growth businesses in various industries on such matters as entity formation, capitalization, capital raising, alternative financing, intellectual property rights and protection, growth and exit strategies, corporate governance, tax matters, and many other legal issues that are critical to the growth and success of an emerging company.

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Anthony Aaron
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Margaret Butler
Adam Calisoff
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Timothy Capen
Joshua Christie
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Laurie Miller
Michael Millikan
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Dale Stackhouse
Chase Stuart
John Thornburgh
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This publication is intended for general information purposes only and does not and is not intended to constitute legal advice.  The reader must consult with legal counsel to determine how laws or decisions discussed herein apply to the reader's specific circumstances.
 
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