Orrick Library Seminar: Case Study: A New Venture Capital Group is Formed

Session 1 * all sessions are identical

Seminar | October.16.2019 | 12:30pm - 2:00pm (Hong Kong Time)

Orrick Hong Kong

Please join Scott Peterman, William Ho and Anson Chan as they present a venture capital fund case study. They’ll discuss the following issues in the context of this scenario:

Anson Kapital is an investment banker with a prominent Hong Kong-based investment banking firm specializing in initial public offerings ("IPOs") of emerging high technology companies. Kapital's firm has recently advised on the sale of one of its clients, Glorious Good Fortune ("GGF"), a company that Kapital’s bank took public two years earlier. During the course of the various transactions in which Kapital acted as adviser to GGF, she became well acquainted with Will Ventura, GGF's President. Ventura decided at the time of this sale of GGF that he did not want to take an executive position in the much larger acquiring company.

After the completion of the sale of GGF, Kapital and Ventura discuss Ventura's future plans. Ventura would like to continue working with young, high technology companies, but at present he does not have any ideas for a new company that would be as successful as GGF. Kapital and Ventura were both impressed by the valuable advice and guidance provided by GGF's venture capital investors in the process of building a successful business, preparing it to go public and facilitating the acquisition. Kapital suggests to Ventura that they start their own venture capital fund, Ventura Kapital Partners (the "Fund"), and raise $50 million to $75 million from outside investors to make investments in promising young high technology companies, primarily in the software industry.

As we walk through this developing scenario, Scott, Will and Anson will discuss the following:

  • How The Fund Managers Meet
  • Decision to Start a New Fund
  • Seek Advice from Venture Capitalists
  • Meet with the Attorney – Picking a Legal Entity, Liability Issues
  • Fund Economics and Fund Terms – Management Fee, Carry, Payout Formulas, Clawback
  • Third Partner – Compensation and Control Issues Among the Managers
  • Licensing
  • Sources of Venture Capital Funding
  • Key Investor Issues
CPT/CLE Credit

1 CPT/CLE credit is being accredited for this seminar. No CPD point will be accredited.

To register, please follow the RSVP link above by 14 October 2019.

Seats are available on a first-come, first-served basis. Walk-ins will NOT be accepted on the day of the seminar.

For questions about the seminar, please contact Becky Wong at +852 2218 9242 or [email protected].

CLE Credits Available: Y

356102

Practice:

  • M&A and Private Equity
  • Funds
  • Fintech
  • Real Estate
  • Technology Companies Group
  • Derivatives
  • China
  • Japan

Scott Peterman Partner M&A and Private Equity, Funds

Hong Kong

Scott Peterman, a partner in Orrick’s Hong Kong office, is a member of the M&A and Private Equity Group.

Scott focuses on representing private fund sponsors and investors in the formation of alternative investment vehicles, including pan-Asian private equity funds, venture capital funds, infrastructure and real estate funds, private REITs, hedge funds, hybrid funds, emerging manager platform funds, Hong Kong authorized funds, and emerging market ETFs. In addition, he has advised on more than 150 account arrangements, representing sovereign wealth funds, universities, seeding and first-loss capital programs, family offices and individual investors.

Scott has extensive experience representing both Chinese state-owned enterprises and private companies in a broad range of M&A transactions, leveraged buyouts, venture capital financings, as well as relevant regulatory and compliance matters. He also counsels FinTech start-ups, develops compensation and profit-sharing schemes, and assists entrepreneurs in managing their wealth. 

Scott offers clients a unique perspective with in-depth knowledge in the technology and telecommunications industries, having served for 13 years as a Silicon Valley senior executive prior to practicing law, including as Apple’s first country manager for China and Korea, director of Asia Pacific for Alcatel Data Networks and director of North American Corporate Development for Cable & Wireless.

Scott has been consistently recognized by various prestigious legal publications such as Chambers Asia, Asia-Pacific Legal 500, IFLR1000 and Who’s Who Legal. He gains high praise from clients for his “incredible base of knowledge”, “commercial acumen” and “awareness of what the client wants.” He is known as “a very experienced practitioner” with “unparalleled” expertise in “complex economic structures”“Scott’s ability to understand what we wanted to accomplish and tailor-make our documents to our needs rather than giving us a ‘pre-hashed, cut-and-paste’ set of documents made him an unequivocal favourite,” a client noted. As an IFLR-designated "market leader," Scott has been characterized as one of the "true leaders of their field," with "a track record of high profile innovative deals" and "recognised as the standout performers in their country or practice area."

Scott’s personal research reflects his continuing interest in early Chinese Zen Buddhism. He is the translator of the Tang Dynasty classic, “Treatise on the Essential Path for Entering the Way through Sudden Enlightenment” and the Song Dynasty “Record of Dazhu’s Responses to Questions of Disciples from All Over.”

Prior to joining Orrick, Scott worked at Jones Day and Sidley Austin in Hong Kong, and practiced in the United States, United Kingdom, and Japan for many years.

375919

Practice:

  • M&A and Private Equity
  • Technology Companies Group
  • Corporate
  • China

William Ho Of Counsel M&A and Private Equity, Technology Companies Group

Hong Kong

William Ho, an of counsel in Orrick’s Hong Kong office, is a member of the M&A and Private Equity Group. He has extensive experience in the areas of cross-border mergers and acquisitions, private equity, venture capital, privatizations, and strategic investments.

Will regularly represents major private equity funds in their investments across Asia, with a strong focus in the tech space. Over the years, he has been actively involved in the start-up scene in Greater China and Southeast Asia, and has built a reputation for advising early-stage start-ups on their capital raisings, financings and general corporate matters.

Will’s practice also includes advising a number of Hong Kong-listed issuers and investment banks on a wide range of capital markets and M&A transactions, including privatizations, security offerings (primary and secondary), as well as private investments into public equity (PIPE) transactions.

Prior to joining Orrick, Will began his career at Slaughter and May before moving to Paul, Weiss, Rifkind, Wharton & Garrison.

In addition to being admitted as a solicitor in Hong Kong, Will is also admitted as a solicitor in New South Wales, Australia (currently non-practicing).

366001

Practice:

  • M&A and Private Equity
  • Funds
  • Corporate
  • China

Anson Chan Managing Associate M&A and Private Equity, Funds

Hong Kong

Anson Chan, a managing associate in Orrick’s Hong Kong office, is a member of the M&A and Private Equity Group.

Anson focuses her practice on representing private fund sponsors and investors in the formation and structuring of alternative investment vehicles, including pan-Asian private equity funds, venture capital funds, hedge funds and hybrid funds, as well as in their investments, acquisitions, divestments and restructurings across the Greater China region. She regularly handles matters covering funds establishment and license applications.

She is also experienced in handling mergers and acquisitions involving Hong Kong listed companies, initial public offerings, as well as other compliance and general corporate matters.

Prior to joining Orrick, Anson worked at Clifford Chance and Sidley Austin in Hong Kong.