Orrick’s Blockchain Team Advises Hedera Hashgraph on over $100 Million in SAFTs in 2018


Orrick recently advised Hedera Hashgraph, LLC on the completion of its $82.5 million SAFT round. Hedera Hashgraph has now raised over $100 million in SAFTs in 2018, and plans to release its tokens to the public in the first quarter of 2019, assuming that the Securities and Exchange Commission cooperates.

Hedera Hashgraph is a distributed ledger company that has created a faster and more secure alternative to blockchain. Using a “proof of stake” model rather than the typical “proof of work” model (the latter of which is the basis of Bitcoin and Ethereum), Hedera has created a faster, more energy-efficient platform for micro-payments, storage and smart contracts. The company announced its launch at the Playstation Theater in Times Square in March, and it is hosting its first developer conference in October in Dallas, TX. Orrick has represented Hedera since the beginning, and has advised on its formation, funding and regulatory matters.

Our cross-practice team that advised on Hedera Hashgraph’s most recent SAFT round included lawyers from our Corporate, M&A and Private Equity, Capital Markets, Technology Companies Group and Tax groups. The team was led by Christopher Austin and included John Narducci, Edward Eisert, James Larkin, Amy Lauren, Julia Ledbetter, Angelo Aratan and Will Peifer.