On October 8, 2023, California Governor Gavin Newsom signed into law Senate Bill 54 (“SB 54”), which will apply to a majority of U.S. venture capital investment firms, even if they are not based in California. SB 54 aims to...more
Recent guidance from the SEC provides clarity for advisers to venture capital funds on the permissibility of a number of common practices in the venture capital industry under the VC Exemption. Specifically, the guidance...more