Venture Briefing: November 1, 2017 Venture Briefing: November 1, 2017

Venture Briefing: November 1, 2017

Ice Miller website

First Three Quarters Saw 12% Rise in IPOs, 39% in Funds Raised
The number of deals in the first three quarters of 2017 increased by 12 percent and the dollar amount of funds raised jumped by 39 percent, compared to full year 2016. One-hundred and sixty IPOs priced in the first three quarters of 2017, raising $36.9 billion and surpassing full year 2016 numbers in deal count (143) and dollar amount raised ($26.5 billion).
(Source: Bloomberg BNA, 2017-10-27) Read the full article
Record Number of M&A Backed by P.E., V.C. Firms This Year
A record portion of the companies acquired so far this year were backed by private equity and venture capital firms, a Pitchbook study revealed. According to the report by the Seattle-based data company, 16.9 percent of all mergers and acquisitions completed in 2017 as of September 30, involved target companies owned by institutions. This is compared to 15.5 percent of all 2016 deals.
(Source: Institutional Investor, 2017-10-26) Read the full article
Family Offices Competing with Private Equity for Deals
Families were once regarded as slow-moving and inexperienced investors, but that's all changed in the past few years. Looking beyond traditional investments in stocks, bonds, or even alternatives such as hedge funds, many family offices -- vehicles that manage the investments and affairs of the wealthy -- have pursued direct investments in companies and real estate.
(Source: Bloomberg, 2017-10-20) Read the full article
Many Companies Not Ready for New Pay Ratio Disclosure Rules
A new survey of publicly traded companies suggests many are ill-prepared for a requirement next year that they disclose the pay ratios of their CEO compared to rank-and-file employees -- with a large percentage admitting their workers may be shocked to learn there are large gaps. In their investor proxies filed next year with the Securities & Exchange Commission, companies will have to disclose the compensation of the median employee in addition to that of their CEO and other top executives, and the ratio formed by the two figures.
(Source: The Hour, 2017-10-25) Read the full article
Experience of Outside Directors Sometimes Problematic, Study Says
It may seem obvious that shareholders stand to benefit when outside directors on a company's board have experience in the industry in which the company operates. But a forthcoming research paper contends, that doesn't hold true in the case of highly diversified companies, where directors tend to "play favorites" by influencing over-investment in the industries with which they're most familiar. Several studies have in fact documented that companies make better investment decisions when that scenario is in play.
(Source:, 2017-10-19) Read the full article
Private Equity Firms Seeking to Hold Onto Investors' Funds Longer
Private equity firms have had no trouble attracting investor dollars. Now there's a new priority: convincing investors to lock those dollars up for longer.
(Source: Bloomberg, 2017-10-26) Read the full article
Corporate America Changing Views on Importance of Diversity
Women and people of color still hold few leadership positions at large American companies. But perceptions of corporate diversity appear to be changing much more rapidly.
(Source:, 2017-10-17) Read the full article
Bill to Give Employers Tax Credit to Train Employees Introduced
A bipartisan group of congressmen has filed legislation to encourage employers to invest more in training and educating their employees. The legislation would create a tax credit for 25 percent of the first $5,000, or up to $1,250, that an employer spends on qualified education and training expenses for an employee.
(Source: Insurance Journal, 2017-10-24) Read the full article
Stereotypes Prevent Female Entrepreneurs from Getting V.C. Funds
While venture capitalists invested more than $58 billion in startups last year, women only got two percent of that money. A study published in the Harvard Business Review, says the problem is rooted in stereotypes.
(Source: Marketplace, 2017-10-25) Read the full article
Most Big Employers Have Harassment Training, But to Little Avail
"Over 90 percent of large U.S. employers have harassment trainings in place, but it's having very little effect, if no discernible effect, on the overall number of harassment complaints that are reported," said Harvard sociologist Frank Dobbin. Experts who study workplace harassment view trainings as more of a strategic defense against future lawsuits than a solution to a pervasive problem.
(Source: Vox, 2017-10-24) Read the full article
Connect With Our Dealmakers at the AM&AA Fall Social & Deal Sourcing Networking Event
Christopher A. Bordoni Thomas Kesoglou Chase A. Stuart

Please join us for the AM&AA New York Chapter Fall Social & Deal Sourcing Networking Event on Wednesday, November 1 from 6-9 p.m. at Convene at 101 Park. This event will include middle market Investment Banks bearing deals and transaction opportunities. Register Here.


Data Security for "Connected" Health Care: Making Interoperable Medical Devices Safer

In today's fast-paced and sophisticated health care arena, information reigns. Access to the right data at the right time—and often in real time—optimizes outcomes, reduces errors and adverse events, and helps manage cost. As "more data faster" moves from gold standard to standard-of-care, interoperable medical devices assume a central position in the treatment milieu. The manufacturer of an interoperable medical device can keep patients safer and reduce risk to the organization by designing data security into the device. Read full article online.


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.

Read the complete profile of the Business Group.

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
Steven Humke

Michael Jordan
Josef Keglewitsch
Tom Kesoglou
Dean Leffelman
Christopher McCleary
Chris Michael
Laurie Miller
Michael Millikan
Robert Ouellette
Thomas Pampush
Megan Ryther
Audrey Schricker
Matthew Servies
Brent Showalter
Scott Snively
Dale Stackhouse
Emily Storm-Smith
Chase Stuart
John Thornburgh
Richard Thrapp
Nancy Valentine


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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