Friends,In last month’s newsletter, we discussed how escalating tariffs were impacting liquidity options for growth-stage startups and examined the sustained dominance of artificial intelligence within global venture investing.This month, we look at how nontraditional investors are shifting their focus toward late-stage companies, and how climate-tech startups are adjusting to a tougher fundraising environment by
After two decades practicing law in Silicon Valley and five formative years working on cross-border deals in Europe, I’ve come to appreciate the subtle (and not-so-subtle) differences in how merger and acquisition (M&A) transactions are structured on either side of the Atlantic. For buyers and sellers on opposite sides of the divide, these can be
Friends,In last month’s newsletter, we discussed the potential impact of newly announced U.S. tariffs on the venture capital (VC) landscape and explored how rising costs and new tariffs could pressure startups, particularly those in the technology sector, and slow demand later in 2025.This month, we continue to focus on the growing impact of market uncertainty
This article by Louis Lehot originally appeared on Law360 on April 14, 2025: A Look At M&A Trends In An Uncertain Deal EnvironmentIn the best of times, mergers and acquisitions are inherently complex. When uncertain global conditions such as financing hurdles, high inflation, unfavorable interest rates and geopolitical conflicts are added to the mix,
The venture capital ecosystem is grappling with a liquidity challenge that’s testing even the most seasoned investors. With the IPO market significantly contracted and regulatory scrutiny of M&A deals increasing — particularly for tech acquisitions — VCs are under mounting pressure to return capital to limited partners (LPs).This environment has forced a recalibration of strategies. Firms are increasingly relying on
This article originally appeared on Westlaw Today on March 28, 2025: How Are Board Rooms Being Impacted by U.S. Politics in 2025?Louis Lehot and Patrick Daugherty of Foley & Lardner LLP discuss legal and regulatory changes at the state and federal level that will affect businesses in 2025.With a new presidential administration and changing federal- and
Cross-border merger and acquisition (M&A) activity in 2025 will be shaped by tumultuous economic, legal, and regulatory change. Driven by the new U.S. administration’s dramatic shift in policies and priorities, developments that once took months to unfold are now likely to impact the political and market conditions in a matter of weeks or even days.
Good Morning from Silicon Valley! As we kick of the week, I wanted to share how the intersection of tech, finance, and policy is constantly developing. Here’s a roundup of the latest headlines making waves: Let me know your thoughts!A Record Energy Pact for AICrusoe, the startup behind part of OpenAI’s Stargate project, has clinched
Foley & Lardner LLP recently co-hosted a webinar with the National Association of Corporate Directors (NACD) to discuss how a new presidential administration and evolving state-driven regulations are effecting boardrooms. A summary of that discussion can be found below.Featured Speakers:– Christine Gorjanc, Board Director– Ed Burbach, Partner, Foley & Lardner LLP– Patrick Daugherty, Partner, Foley &
In 2024, 34% of all U.S. venture funding — a staggering $61B — went to rounds of $500M+ for companies that are already well-established. Think Databricks, OpenAI, Waymo, and Epic Games, all of which collectively raised nearly $24B last year.And it’s not just the mega-rounds: 37% of all #startup funding went to companies 9+ years old,