Venture Briefing: July 26, 2017 Venture Briefing: July 26, 2017

Venture Briefing: July 26, 2017

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Wall Street Executives Ask SEC to Loosen Rules to Boost IPOs
Regulations have made it more difficult to raise capital through stock sales, choking off access to vital capital for fledgling companies, the New York Stock Exchange's chief told members of Congress. At a hearing to discuss the Sarbanes-Oxley Act and corporate governance in general, NYSE Group President Tom Farley argued compliance with the 2002 law, passed in the wake of the Enron and WorldCom accounting scandals to ensure corporations give truthful accounts of their finances, is too difficult for many smaller companies.
(Source: Bloomberg, 2017-07-18) Read the full article
P.E. Firms Raised Impressive $113.4B in First Half of Year
U.S. private equity firms raised $113.4 billion in 117 funds in the first six months of 2017, compared to $209 billion raised by 281 funds in all of 2016, according to data by PitchBook. If the investment pace continues, total capital raised could meet or exceed 2007, the all-time high point of private equity fundraising when $267 billion was raised by 308 funds.
(Source: Pensions & Investments, 2017-07-13) Read the full article
Trump Likely to End Rule Allowing Foreign Entrepreneurs in U.S.
The Trump administration said it would delay, and probably eliminate down the line, a federal rule that would have let foreign entrepreneurs come to the United States to start companies. The decision was quickly slammed by business leaders and organizations, especially from the technology sector, which has benefited heavily from start-ups founded by immigrants.
(Source: The New York Times, 2017-07-10) Read the full article
Small Biz, Franchisors Ask for NLRB Joint-Employer Clarification
Representatives from the business community urged lawmakers to step in and pass federal legislation defining “joint employment” during a hearing of the House Committee on Education and the Workforce. Agencies and courts have adopted various tests for determining whether joint employment exists, but they often consider factors like whether a business is involved in hiring, compensation and scheduling.
(Source: HR Dive, 2017-07-13) Read the full article
Report Finds Women Outperform Men in Crowdfunding Campaigns
When it comes to raising funds from large groups of anonymous donors over the internet, women come out tops. A new report from PricewaterhouseCoopers and The Crowdfunding Center shows that women across the world consistently outperformed men on funding campaigns: Globally, females were 32 percent more successful than males in reaching their funding targets and in Asia, women achieved twice as much success as men.
(Source: Bloomberg, 2017-07-19) Read the full article
House Seeks to Stop Large Firms from Using Pass-Through Tax Rates
Republican lawmakers appear to be leaning toward coupling a cut in pass-through business tax rates intended for small businesses with rules that would prevent large companies from taking advantage of pass-through treatment. At a hearing on tax reform, Rep. Peter Roskam (R-Ill.), who is chairman of the House Ways and Means subcommittee on tax policy, said the top marginal tax rate on small businesses needs to be reduced from 44.6 percent to 25 percent.
(Source:, 2017-07-17) Read the full article
V.C.s Finding Digital Currency Startups Don't Need Their Funds
U.S. venture capital firms lining up for a slice of the burgeoning digital currency market are grappling with a novel challenge -- some of the hottest tech startups that sell the coins just don't need their money. Only a few years ago, digital currency entrepreneurs, like other Silicon Valley peers, had to line up to pitch their ideas to venture capitalists, who controlled their destiny as virtually the only source of funding.
(Source: Reuters, 2017-07-24) Read the full article
Google Creates Gradient Ventures to Focus on Funding AI Startups
With artificial intelligence research increasing around the world, Google has created a new venture fund, Gradient Ventures, to target investments in early-stage start-ups that are working on brilliant ideas in AI. Among the key goals of Gradient are seeking out promising AI ideas and technologies that haven't even been imagined yet and providing them with the support they need to flourish, wrote Patterson.
(Source: IT Pro Windows, 2017-07-24) Read the full article
Travel Ban Update – Who is Affected?
Jenifer Brown Christl Glier

President Trump’s “Travel Ban” was signed just one week after he took office in January, and nearly six months later, its fate still remains unknown. A final decision appears to be on the horizon, as the U.S. Supreme Court recently agreed to hear arguments on the case during its October term. Read full article online.


By The Numbers

Investors raised $1.876 billion in 93 biotech VC deals during the second quarter, according to the most recent quarterly MoneyTree™ Report from PricewaterhouseCoopers (PwC) and CB Insights, released Wednesday.
Source: Genetic Engineering & Biotechnology News - Biotech VC Pursues Historic Pace, Buoyed by Megadeals


Services Group

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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