Venture Briefing: November 29, 2017 Venture Briefing: November 29, 2017

Venture Briefing: November 29, 2017

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Midwest Becoming Bigger Hub for Tech Startups
The money, power and influence of tech companies on the West Coast have reached new heights, but some investors see plenty of potential in the center of the country. Focusing on the Midwest is no longer considered a nutty idea.
(Source: Seattle Times, 2017-11-26) Read the full article
High Court to Decide Whistleblowers' Retaliation Protections
The Supreme Court is set to hear a case that could determine whether corporate whistleblowers have the same job protections against retaliation when they report concerns about their employers' misconduct only to their employers as they do when they report them to the Securities and Exchange Commission. While there is dispute over what the law is, an SEC regulation says whistleblowers are entitled to protection under Dodd-Frank, regardless of whether they report wrongdoing to their employer or to the SEC.
(Source: Insurance Journal, 2017-11-27) Read the full article
$200 Billion in November M&A Activity Nears Record
About $200 billion worth of mergers and acquisitions have been announced in November, according to Dealogic, putting the month on track to be the second-biggest month for activity since the company started collecting data in 1995. With the year winding down, the increase in activity is continuing a theme that started toward the end of 2016.
(Source: Fox Business, 2017-11-21) Read the full article
Firms Could End Record Offshore Cash Reserves Due to Tax Overhaul
A new report from Moody's Investors Service expects offshore cash reserves to expand eight percent to $1.4 trillion by the end of 2017, nearly three-quarters of all cash projected to make it into U.S. non-financial company coffers by year end. The record-setting run-up in foreign cash could end in 2018 if Congressional Republicans advance their effort to overhaul the U.S. tax system, and the new rules come into effect next year.
(Source: The Wall Street Journal, 2017-11-20) Read the full article
VCs Getting In on Initial Coin Offerings Through SAFTs
Just as blockchain technology is shaking up the startup space, it's also revamping the way venture capital firms invest in emerging companies. Over the last year and a half, startups have raised nearly $4 billion through initial coin offerings, which are a kind of unregulated fundraising technique involving the creation of new digital tokens, or units of value.
(Source: Business Insider, 2017-11-19) Read the full article
Firms Get More Time to Adjust to New Revenue Accounting Standard
U.S. Securities and Exchange Commission officials indicated that they will hold off issuing comment letters scrutinizing company compliance with the new revenue accounting standard in the early stages of implementation. The SEC is fielding 10 to 15 percent more inquires on revenue recognition this year versus last year.
(Source: The Wall Street Journal, 2017-11-14) Read the full article
Initial Coin Offerings Growing More Popular, Amid Big Concerns
Initial coin offerings are a relatively new method that entrepreneurs have used to raise money for start-ups, by selling custom-built virtual currencies. The practice has taken off this year, despite the warnings of regulators and the uncertainty of the rules concerning the fund-raising method.
(Source: The New York Times, 2017-11-26) Read the full article
Corporate America Beginning to Take on More Social Issues
As the U.S. edges away from globalism, initiatives to fight climate change and social issues such as poverty, hunger and inequality, corporate America is moving aggressively to fill the void. Supermarket giant Kroger is feeding the hungry, electricity company Entergy is voluntarily reducing its greenhouse gas emissions and an outdoor apparel and gear seller named Cotopaxi is training Sudanese refugees in Utah to be computer programmers.
(Source: USA Today, 2017-11-16) Read the full article
Growing Tech Companies Seeking Out Higher-End Offices
More maturing tech companies are a main driver of occupancy in newer high-end offices. That's a departure from the days when tech start-ups preferred old warehouses and office buildings converted into wide-open loft offices.
(Source: The New York Times, 2017-11-21) Read the full article
More Harvard Business Grads Entering Venture Capital, Private Equity
A higher proportion of Harvard Business School graduates are going into venture capital and private equity than in years past, according to career statistics the Business School released for its MBA class of 2017. While the share of students going into financial services has remained relatively constant, the overall proportion of students going into venture capital and private equity in particular has increased from 10 percent in 2013 to 18 percent in 2017.
(Source: The Harvard Crimson, 2017-11-17) Read the full article
 
 
 
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Connect With Our Dealmakers at Opus Connect's New York City Chapter Event
Thomas Kesoglou Christopher Bordoni Chase Stuart

Ice Miller is proud to co-host the New York City Chapter of Opus Connect on Thursday, December 7 from 5:00-7:00 p.m. at Croton Reservoir Tavern. We would be delighted for you to join us for our Winter Social! Register here.

 

Protecting Retirement Plans from Identity Theft

Identity theft and related crimes are on the rise, and they can have a devastating impact on employer-sponsored retirement plans, such as 401(k)s. Retirement plans can have very large balances compared to other cyber targets such as bank accounts, and therefore, have become quite attractive to cyber criminals. 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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Fitz Angrand
James Banister
Richard Barnhart
Samuel Beavers
Christopher Bordoni
Edward Braum
Elizabeth Brier
Adam Calisoff
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Timothy Capen
Joshua Christie
Ryanne Bush Dent
Jack Dillon
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Michael P. Farrell
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Audrey Schricker
Matthew Servies
Brent Showalter
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Chase Stuart
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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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