The pandemic has been an accelerant of our use of technology. One of the most interesting unintended consequences of the pandemic is our use of video conferencing to interact with our colleagues and peers. For many of us, our ability to connect with our business partners has, in fact, actually increased. While virtual meetings are unlikely to fully replace direct interaction (at least with current technology), we have been amazed at everyone’s ability to readily adapt and proactively use technology to connect. We are all hopeful that vaccines will be available in 2021, and we can begin to return to a more normalized work and social environment. But we should remember to leverage the lessons we have learned during the pandemic in terms of using technology to improve both our skills and connectivity with one another. As Alexander Graham Bell once said: “When one door closes, another opens.” Or as Bob Marley stated it: “When one door is closed, don’t you know another is open.”
In this issue, we have included an important article about the SEC’s proposed relief and clarification regarding broker-dealer registration for finders. The use of finders by emerging companies to raise private capital has been widespread for years, notwithstanding that technically such actions were not consistent with SEC rules and regulations. We applaud the SEC for recognizing the reality of the marketplace and proposing rules that will permit the use of finders. We have also included a terrific article relating to exit options for public benefit companies (PBCs), which have become increasingly prevalent as entrepreneurs lean in to the “do well by doing good” ethos.
Our spotlights on emerging companies in this edition are on (i) Boston Family Advisors, an operator of single-family offices for venture capital and private equity investments, and (ii) iAssay System, a medical device company that will facilitate at-home testing and diagnostics.
Be safe and be well, and best wishes for a happy holiday season!
Dan + Sam