Traditionally, as venture-backed companies enter the growth phase, management and investors begin considering an exit for the company—either an IPO or acquisition—in order to receive a return on investment.
However, in today's market, more companies are opting to stay private longer, and they are increasingly seeking alternative forms of liquidity for founders, early investors and employees. In recent years, these "liquidity rounds" have become commonplace for high-growth startups and mid-to-late-stage companies, particularly in the tech sector.
Join WilmerHale Partners Dave Gammell and Daniel Zimmermann, as well as Nasdaq Private Market Legal Channel Director Kevin Gsell, as they discuss key trends in secondary market activity and the advantages and disadvantages for investors and venture-backed companies.
Topics will include:
- an overview of transaction structures and parties involved;
- a comparison of the types of investors and platforms available; and
- legal and regulatory considerations for companies, as well as for executives and boards of directors.
Participants will have the opportunity to contribute questions online and interact with panelists throughout the webinar.