Venture Briefing: January 11, 2017 Venture Briefing: January 11, 2017

Venture Briefing: January 11, 2017

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Non-Tech Companies Led Unicorn Buyouts in 2016
As the club of 98 U.S. unicorns, or private companies worth more than $1 billion, look ahead to 2017, these well-funded startups and their backers can look forward to a wider range of exit opportunities as sales to nontechnology companies or even private equity firms gain prominence. The U.S. unicorns collectively are worth about $372 billion, according to CB Insights.
(Source: TheStreet.com, 2017-01-04) Read the full article
2016 M&A Deals Down 22.5%, But Still Second-Highest on Record
There were 4,951 mergers and acquisitions deals completed in the U.S. in 2016, with a total value of $1.5 trillion in 2016, according to a new report by M&A intelligence service Mergermarket. That's down 22.5 percent from 2015, when 5,298 deals were completed totaling $1.9 trillion, but 2016 was the second-highest annual U.S. value since Mergermarket started tracking the figures in 2001.
(Source: BizTimes, 2017-01-04) Read the full article
After Dwindling Year for V.C., Expectations High for 2017
The amount of money that flowed into start-ups in the United States fell in 2016 for the first time in four years as the number of deals struck tumbled to their lowest levels since 2011. But the technology world has high hopes that 2017 will prove to be brighter, as the parent company of Snapchat and other highfliers prepare to go public and venture capitalists amass huge new war chests.
(Source: The New York Times, 2016-12-29) Read the full article
Corporations Remaking Themselves Leads to Major Year for M&A
A drive by some of the world's largest corporations to find new avenues to expand in the face of anemic economic growth led to major acquisitions in areas adjacent to their core business. This helped make 2016 the third-biggest year on record for mergers and acquisitions, trailing only 2015 and 2007.
(Source: Reuters, 2016-12-29) Read the full article
Private Equity Firms Finding Alternative Ways to Put Cash to Work
Blockbuster buyouts are few and far between these days, but there are other ways to stay busy. Last year's record indicates a determination to put cash to work -- high valuations and competition be damned -- by using different deal structures and pursuing smaller targets.
(Source: Bloomberg, 2017-01-06) Read the full article
Few Firms Have Disclosed Their Plans to Meet New Accounting Rule
It is almost showtime for new revenue-recognition rules, but the largest U.S. public companies have told shareholders precious little about what to expect. Just 15 companies in the S&P 100 have so far disclosed how they plan to make the transition to the new accounting standard, according to a Wall Street Journal review of the most recent quarterly filings.
(Source: The Wall Street Journal, 2016-12-12) Read the full article
Senator Seeks to Better Protect Whistle-Blowers From Retaliation
Senator Claire McCaskill, responding to what she has called troubling weaknesses in protections for whistle-blowers, has asked federal agencies to provide information on senior managers who may have retaliated against employees who reported wrongdoing. Her request was prompted by a statement in June from the Transportation Security Administration that said that despite a number of documented cases of such reprisals, neither the courts nor government agencies had confirmed whistle-blower retaliation by any senior manager at the agency.
(Source: The New York Times, 2016-12-22) Read the full article
Women, Minorities Majorly Underrepresented in V.C. Industry
Venture capital, the tech industry's most exclusive club, is overwhelmingly white and male. Women, African Americans and Latinos are significantly underrepresented in venture capital, with few holding decision-making positions, according to the report by the National Venture Capital Association and Deloitte University Leadership Center for Inclusion.
(Source: USA Today, 2016-12-15) Read the full article
Boards Failing to Take Steps to Defend Against Cyberattacks
Despite the scale and potential harm from major cyber-attacks, there's wide recognition that corporate leaders, especially boards of directors, aren't taking the necessary actions to defend their companies against such attacks. It's not just a problem of finding the right cyber-defense tools and services, but also one of management awareness and security acumen at the highest level, namely corporate boards.
(Source: Computerworld, 2016-12-26) Read the full article
 
 
 
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Join Us For Our Upcoming Webinar: Portfolio Companies in Distress: Challenges and Opportunities

Please join us for our upcoming webinar on Wednesday, February 22 from 1:00-2:15 p.m. EST. hosted by Ice Miller and Amherst Partners. This webinar will consider problems and possible solutions when portfolio companies face financial distress. Register here.

 

By The Numbers

In all of 2016, only 36 biotech and pharmaceutical companies went public in the U.S., according to data gathered by Bloomberg, compared with 68 in 2015 and a record 85 in 2014.
Source: Bloomberg - Biotech IPOs Are Nowhere to Be Found as Investors Wait on Trump

 

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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
Fitz Angrand
James Banister
Richard Barnhart
Samuel Beavers
Christopher Bordoni
Edward Braum
Elizabeth Brier
Adam Calisoff
Kristine Camron
Timothy Capen
Joshua Christie
Ryanne Bush Dent
Jack Dillon
Dustin DuBois
Stephen Edwards
Michael P. Farrell
Jenny Frasier
Harry Gonso
Eric Goodman
Jon Groff
Stephen Hackman
David Hight
Paul Huddle
Steven Humke

Michael Jordan
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Tom Kesoglou
Dean Leffelman
Kristen Maiorino
Christopher McCleary
Chris Michael
Laurie Miller
Michael Millikan
Robert Ouellette
Thomas Pampush
Megan Ryther
Audrey Schricker
Matthew Servies
Brittney Sharp
Brent Showalter
Scott Snively
Dale Stackhouse
Emily Storm-Smith
Chase Stuart
John Thornburgh
Richard Thrapp
Kristina Tridico
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Michelle Zaretsky

 

 
     
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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