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Venture Briefing: October 5, 2016 Venture Briefing: October 5, 2016

Venture Briefing: October 5, 2016

Ice Miller website

Market for Global IPOs Expected to Materialize in 2017
The market for initial public offerings has had a year it would rather forget as it tried to deal with global political uncertainty, but a new report estimates that a strong bounce-back in activity is expected in 2017. "Although global IPO (initial public offering) activity in 2016 will likely lag behind 2015 levels, the outlook for 2017 is positive due to improving economic fundamentals, high valuations and lower volatility which will support IPO sentiment," a new report by audit firm EY said.
(Source: CNBC, 2016-09-28) Read the full article
Third Quarter Saw Tech IPOs Finally Making Strides
While nobody is going to claim that the roof is on fire, tech IPOs certainly turned the heat up a degree or two during the third quarter, creating some welcome optimism. According to the latest report from Renaissance Capital, there were 10 tech IPOs in the U.S. during the three months ending in September.
(Source: Venture Beat, 2016-10-03) Read the full article
Venture Capitalists Rush to Raise Cash Before Good Times Recede
With VC fundraising on track for its best year since the dot-com era, some investors say there's a rush to raise cash before it disappears. In the first half of the year, U.S. venture funds brought in $22.9 billion, according to the National Venture Capital Association, a trade group.
(Source: Bloomberg, 2016-09-26) Read the full article
Survey Finds CEO Pay Ratio May Be Lower Than First Reported
Results of a new Mercer survey on CEO pay ratio suggest that the average ratio may be much lower than previous reports indicated. While a number of reports have pegged the typical current ratio as greater than 300:1, in Mercer's survey of 117 companies the average ratio for a majority of respondents was less than 200:1.
(Source:, 2016-09-28) Read the full article
P.E. Firms Reaping Rewards as Investors Showing More Interest
Investors are quite keen on private equity right now in general, continuing a trend that has been established for at least a couple years in a low-interest market where more traditional investments aren't providing the sizable returns investors are seeking. And that's all been making fundraising a little bit easier.
(Source: Crain's Cleveland Business, 2016-10-02) Read the full article
More Large Companies Choosing to Disclose Political Contributions
The nation's largest public companies are disclosing more information about their political contributions, according to a report by the Center for Political Accountability. S&P 500 companies are moving toward placing restrictions on political spending, devising clear policies to govern spending and enhancing board oversight of company engagement in the political process, the report found.
(Source: The Washington Post (free reg. req'd), 2016-09-29) Read the full article
Corporate Boards Finally Seeing Changes from Diversity Measures
Things are changing when it comes to getting more women on corporate boards. Diversity measures have had a breakout year in 2016.
(Source:, 2016-09-30) Read the full article
Number of Female CEOs Hits Record, But Still Only 27 of Them
America hit a milestone in 2016: the most female CEOs ever. There are now 27 women at the helm of S&P 500 companies.
(Source:, 2016-09-29) Read the full article
Cost of Typical Cyber Breach Not Enough to Cause Firms to React
The cost of a typical cyber breach to an American company is much less than has been generally estimated, providing one possible explanation for why companies do not invest more to improve computer security, according to a new RAND Corp. study. The typical cost of a breach is about $200,000 and most cyber events cost companies less than 0.4 percent of their annual revenues, the study found.
(Source: Insurance Journal, 2016-09-26) Read the full article
Hedge Fund and Founder to Settle Bribery Charges for $413 Million
OZ Africa Management, a unit of Och-Ziff, pleaded guilty in Federal District Court in Brooklyn to one count of conspiracy -- an unusual violation for a hedge fund of a federal law aimed at preventing bribery of foreign officials. Mr. Och, who is also chief executive of Och-Ziff, agreed to pay $2.2 million to settle a record-keeping violation with the Securities and Exchange Commission.
(Source: The New York Times, 2016-09-29) Read the full article
Finally! New Proposed Immigration Option for Foreign Entrepreneurs
Jenifer M. Brown Christl P. Glier

In the ongoing and increasingly heated debate over immigration reform, one of the most critical and consistently overlooked needs of our immigration system includes options for foreign entrepreneurs. Read full article online.


By The Numbers

Overall per-share earnings for the S&P 500 are expected to decline 2.4%, according to FactSet. At the end of the second quarter, third-quarter expectations were calling for a rise of 0.2%.
Source: MarketWatch - Earnings rebound looks less likely as profit and sales warnings pile up


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
Dustin DuBois
Stephen Edwards
Michael P. Farrell
Harry Gonso
Eric Goodman
Jon Groff
Stephen Hackman
David Hight
Paul Huddle
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
Brittney Sharp
Brent Showalter
Scott Snively
Dale Stackhouse
Emily Storm-Smith
Chase Stuart
John Thornburgh
Richard Thrapp
Kristina Tridico
Nancy Valentine
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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