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MintzTech Connect Industry News - May 2016

Dear Readers, 

There is an ancient Chinese proverb that goes like this: When the wind changes direction, there are those that build walls and there are those that build windmills. In the early part of this year, when the public capital markets swooned, there was much discussion about investors pulling back in the private company market. Further, as we saw some indications of so-called Unicorns becoming “Unicorpses,” this chatter increased. But while there appears to be a “reset” on valuations going on in the late stage private company market, there is clearly no shortage of entrepreneurs building new “windmills” and getting these young enterprises funded. Good ideas and good companies are definitely getting funded, and the early stage market remains incredibly robust! Further, companies in the late stage that are true “thoroughbreds” and built to last (unlike ephemeral unicorns) are also receiving the financial support they need to grow. All this bodes well for a solid Q2 and Q3 in the private company markets.

In this issue we feature Gotham Greens, an amazing company growing premium quality lettuces and herbs on large urban rooftops in NYC and Chicago. Environmentally conscious and also fast-growing, Gotham Greens epitomizes the ideal of creating meaningful economic value by doing good!

We also highlight a number of interesting legal proposals that could affect email privacy and angel investing. Additionally, we discuss a new law that will facilitate the resales of securities of private companies and a new tax credit for biotech companies based in NYC.

Finally, we would like to introduce our new Co-Editor, Samuel Asher Effron. Many of you may know Sam from his dedication and hard work on behalf of our clients. Sam is one of our rising young stars and his energy, enthusiasm, and insights will be a welcome addition to MintzTech Connect. In addition to being an outstanding lawyer, Sam previously worked at a technology start-up — experience that enables him to bring a unique and well-rounded perspective to our publication.

As always, we welcome your questions and inquiries, and be sure to visit our website for emerging companies @ www.mintzedge.com. Sign up here to receive email alerts when new articles are posted to MintzEdge.com.

Sincerely yours,
Dan + Sam

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Authors

Daniel I. DeWolf

Member / Chair, Technology Practice; Co-chair, Venture Capital & Emerging Companies Practice

Daniel I. DeWolf is an authority on growth companies and serves as Chair of Mintz's Technology Practice Group and Co-chair of the firm’s Venture Capital & Emerging Companies Practice. He has worked on pioneering online capital-raising methods. He also teaches venture capital law at NYU Law School.
Samuel Asher Effron assists Mintz clients with venture capital and private equity transactions, helping start-ups with legal and business matters. He has clients in a variety of technology sectors, including video gaming, music, virtual and augmented reality, and consumer electronics.