Venture Briefing: March 22, 2017 Venture Briefing: March 22, 2017

Venture Briefing: March 22, 2017

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Tech Startups Seeing Resurgence Among IPO Investors
According to Renaissance Capital, a manager of IPO focused funds, there have been 23 IPOs so far this year, up 229 percent from last year. But there have only been three tech deals so far, according to Ipreo Capital Markets, while no tech companies made it to Wall Street until April in 2016. What tech startups now know is that there is interest among investors to buy shares of new tech companies.
(Source: MarketWatch, 2017-03-20) Read the full article
Shareholders Continue to Press Corporations for More Disclosure
Investors will keep prodding companies to bring their executive pay in line with rivals' and disclose more detail about their environmental and social policies during this year's shareholder contests. Their push continues trends in corporate governance, despite a murky regulatory outlook that could change disclosure rules after this year, according to a new report.
(Source: The Wall Street Journal, 2017-03-09) Read the full article
Female Founders Still Receive Less V.C. Than Male Counterparts
It's a well-documented fact that female founders receive less venture capital funding than their male counterparts, but what is perhaps more surprising is that things haven't improved -- and have actually worsened -- over the past year. Venture capitalists invested $58.2 billion in companies with all-male founders in 2016, while women received just $1.46 billion in VC money last year, according to data from M&A, private equity, and venture capital database PitchBook.
(Source: Fortune, 2017-03-13) Read the full article
States Impose Corporate Income Taxes in Addition to U.S. Rate
With federal tax reform efforts seeking to lower the 35 percent tax rate on corporations, it's worth remembering that most states also impose taxes that can push business tax marginal rates above 40 percent, according to a release. New analysis from Tax Foundation Policy Analyst Morgan Scarboro shows the corporate tax brackets and tax rates for these states and the District of Columbia.
(Source: Reading Eagle, 2017-03-14) Read the full article
90% of Surveyed CFOs Support Lowering Corporate Tax Rate
Almost 90 percent of the U.S. finance executives surveyed support proposals that would lower the corporate tax rate. Three-fourths said easing rules around the repatriation of foreign profits would be good for the economy.
(Source: The Wall Street Journal, 2017-03-15) Read the full article
U.S. Companies Targeting Overseas M&A Amid Tax Overhaul Concerns
U.S. companies are making overseas acquisitions now and waiting for tax changes later. These deals have contributed to a surge in overseas acquisitions: Publicly listed U.S. corporations have announced more than $60 billion in acquisitions of targets outside of North America this year, more than double the amount in the same period a year ago, according to data compiled by Bloomberg.
(Source: Bloomberg, 2017-03-17) Read the full article
February Big Bank Lending to Small Businesses Improved to 24.1%
Big banks continue to believe in the potential of small businesses. The latest Biz2Credit Small Business Lending Index reveals small business loan approval at big banks improved to 24.1 percent in February 2017, marking the seventh consecutive month of increases and the 11th time in a calendar year that approval percentages have increased.
(Source: Small Business Trends, 2017-03-17) Read the full article
P.E. Buyout Funds Saw Higher Returns than Public Equity Markets
Private equity buyout funds globally delivered returns that beat public equity markets by a sizable margin in 2016. In the U.S., funds delivered a six percent end-to-end pooled internal rate of return for the 12 months ending June 2016. That's compared with four percent for the S&P 500 using an apples-to-apples metric developed by investment advisory firm Cambridge Associates.
(Source: Forbes.com, 2017-03-14) Read the full article
V.C. Firm Raises Hundreds of Millions for Early-Stage Biotechs
A new venture capital firm has raised hundreds of millions of dollars and plans to invest the money in preclinical and early-stage biotechs. Pivotal bioVenture Partners closed its first fund on March 16, securing $300 million.
(Source: BioPharma Dive, 2017-03-16) Read the full article
 
 
 
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Smart Connections - The Internet of Things

At Ice Miller, our professionals have helped our clients stay ahead of a changing world for more than 100 years. As your conversations around smart cities continue, turn to our team for insights, experience and guidance. We have prepared material that can serve as a shared resource for your peer group discussions to give everyone the background they need on the business and legal issues behind connected devices. Download our guide here.

 

Have Your Data Breach Reporting Obligations Been Heightened?

Companies storing personal information related to residents of California, Florida, Illinois, Nebraska, Nevada, Rhode Island, or Wyoming beware—your data breach reporting obligations are increasing. Read full article online.

 

By The Numbers

A merger that creates a bank with total assets of less than $100 billion is not a threat to the financial system, the central bank said in a statement on Thursday. Since 2012, that threshold had been $25 billion.
Source: Reuters - Fed eases bank merger rules by lifting size threshold for review

 

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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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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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