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

Session 2 * all sessions are identical

Seminar | October.17.2019 | 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

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).