Venture Capital & Private Equity

Fund Formation

Michael Best advises funds and fund sponsors on structuring, forming, and operating all types of investment funds. We have experience in a broad range of structures, from traditional venture capital and private equity funds to special-purpose vehicles, pledge funds, and implementation of bespoke investment strategies.

We regularly counsel established and emerging funds (and their financial backers) on sponsor and investment vehicle formation or continuation, portfolio company acquisition and management, meeting regulatory requirements and ongoing compliance, and sponsor-level exit or investment transactions.

We provide clients a holistic approach to representation by drawing on our experience in multiple practice areas, such as corporate, securities, employment, benefits, and taxation. For sponsors, we also advise on management entities’ internal governance, partner and leadership transition, joint ventures, and economic allocations of carried interest and other compensation.

In addition to advising funds and sponsors on formation and operations, Michael Best has deep experience counseling fund clients on implementing investment strategies and deploying fund capital in a variety of industries and structures.

Private Equity Investments

Michael Best represents private equity funds, companies seeking to raise private capital, and investors in all aspects of financing, acquisitions, and exit transactions. Our work includes structuring investor returns, providing tax advice, and preparing or reviewing offering materials and designations of equity ownership classes and distribution preferences in a limited liability company or partnership.

We also serve as counsel to portfolio companies in many different industries. Our extensive knowledge of these industries, combined with our deep understanding of the private equity business and financial markets, adds significant value for all our private equity clients.

Broker-Dealer & Investment Advisers

In an increasingly complex regulatory environment, our Broker-Dealer & Investment Advisors group provides full-service strategic counsel to clients such as clearings firms, broker-dealers, investment advisors, hedge funds, family offices, VC and PE funds, angel network funds, accelerators, and evergreen funds, among others.

We advise on a variety of regulatory and compliance needs, including ongoing compliance for registered investment advisors and exempt reporting advisors, exemptions from registration under the Investment Company Act of 1940, registration of investment advisors and broker-dealers, and Securities and Exchange Commission and FINRA examinations. We also represent our clients on all aspects of their business, working in interdisciplinary teams with lawyers across Michael Best. Click here to learn more.

Venture & Growth Capital (Venture Best^®)

Michael Best represents venture capital and angel investors, funds, and financial institutions in everything from initial seed rounds to later-stage investments and portfolio management. We serve both company- and investor-side clients in transactions that fund and support the high-growth economy.

Our Venture Best^® team is actively involved in the entrepreneur ecosystem. We have worked with hundreds of investors and start-ups across the country, and we understand the fast-moving world of emerging and high-growth companies. This means we offer clients consistent insight into market values, current trends, and exciting opportunities. We partner with our clients to make meaningful matches between funding sources and high-potential companies.

Start-up & Emerging Companies (Venture Best^®)

Our Venture Best^® group works closely with entrepreneurs, and with their VC and angel investors, to help new, rapidly growing companies find financial backing and expand their businesses. Many of our attorneys are also investors and entrepreneurs themselves, giving us firsthand insight into effective strategies for finding the right investment partners, structuring deals, and achieving growth objectives.

In addition to transactional work, we counsel early-stage businesses on their financial, organizational, and regulatory needs as they grow. We also provide crucial value-added services to start-ups, such as advising on business plan and pitch development, making investor introductions, and team-building referrals. Our extensive network of contacts enables us to help each entrepreneur find the right investors—and vice versa.

IP Strategic Analysis

Start-ups are built on ideas, and intellectual property assets are crucial to a company’s market value and growth potential. Before you make a significant investment or acquisition, Michael Best can give you critical insights through our IP Strategic Analysis system. We go beyond basic IP due diligence to deliver essential intelligence for informed business decisions. Our in-depth analysis exposes strengths and weaknesses of IP assets, and evaluates the IP of a company's competitors too. We distill our findings into an easily digestible report with a high-level summary and clear, actionable advice. Click here to learn more.