Business & Legal Developments| May 2023
Friends,
As we leave May and turn the corner to summer, we continue to see economic conditions evolving daily.
After an event-packed month in April, we saw our Health Care & Life Sciences and Innovative Technology host a remarkable Brainwaves: A Foley Forward Experience. Business and legal executives gathered in Boston to explore the world of health tech through augmented reality, small group roundtable discussions, and more. Not only did attendees have the opportunity to discuss and explore the fundamental shifts driving change and disruption in health technology, but they left with critical insights from experts across the industry.
As we go into June, we could continue to see an increased appetite for acquisitions as valuations stabilize at lower levels, inflation subsides and interest rates taper off.
Looking beyond the horizon, Alidad Vakili shared his thoughts on How to Position Your Startup for Venture Capital Funding, Alicia Dormer and Lyman Thai discussed Unveiling the Top Areas of Venture Capital Investment in 2023, and Alicia Dormer and Louis Lehot dove into The Evolving Landscape of Enterprise SaaS.
As always, we would love to see you at our upcoming events. Do not hesitate to reach out if we can help you brainstorm a legal or business challenge you are facing or if we can connect you to a potential investor, professional or entrepreneur.
Your Foley & Lardner Silicon Valley team (Natasha Allen, Eric Chow, Brandee Diamond, Louis Lehot, Lyman Thai, André Thiollier, Alicia D’Alba Dorner, and Alidad Vakili).
Events
Recent Events:
Brainwaves: A Foley Forward Experience | May 10, 2023
Part of the firm’s signature Foley Forward event series, Brainwaves provides an immersive experience with insights from across the health care, life sciences, and technology spectrums. An exclusive gathering of business and legal executives will discuss and explore fundamental shifts driving change and disruption in health technology. Our program will be grounded around three key concepts — Tech. Money. People.
How to Position Your Startup for Venture Capital Funding | May 18, 2023
Of Counsel Alidad Vakili recently hosted a webinar discussion on how to position your startup for venture capital funding. If you didn’t get the chance to attend, a recording is available.
MHA Hot Topic Webinar: On-line Tracking Technologies: A Health Care Provider’s Practical Discussion on Reducing Risk | May 31, 2023
Partners Kimberly Klinsport and Lawrence Vernaglia presented the recent program On-line Tracking Technologies: A Health Care Provider’s Practical Discussion on Reducing Risk as part of the Massachusetts Health & Hospital Association’s Hot Topic Webinar series. If you were unable to attend, a recording is available.
Upcoming Events:
Early Stage Startup Financing in 2023 | June 14, 2023
Join Louis Lehot and Natasha Allen for a webinar discussion on early stage startup financings in the new economy. 2023 is not 2021. There is plenty of seed financing activity going on in the startup world, but it’s a different economic environment with a variety of different structures being used.
Highlights
Louis Lehot Profiled as One of the Ten Most Inspiring Leaders to Follow in 2023
Foley & Lardner LLP Partner Louis Lehot is profiled in The Inc Magazine article, “Louis Lehot, Taking Companies from Garage to Global,” as part of the publication’s The Ten Most Inspiring Leaders to Follow in 2023 series.
Unveiling the Top Areas of Venture Capital Investment in 2023
We know there has been an ongoing slowdown in venture capital funding for startups — this has been the case since 2022 and it continues to impact startups at all stages of growth. The slowdown appears to be leveling from 2022, however, suggesting that the market may be normalizing. Furthermore, investors are still active in certain key sectors and notable trends are beginning to emerge in the landscape this year.
The US Economy Is Strong, the Stock Market Is Steady, So Where Did All the M&A Deals Go?
No one can predict the lasting effects of an economic downturn for certain and whether tech M&A activity will ebb or flow. However, current economic conditions present many aspects of the ideal buyer’s M&A market.
The Evolving Landscape of Enterprise SaaS
Despite belt-tightening in IT budgets across enterprises, software-as-a-service (SaaS) continues to experience sustained growth. As companies continue to embrace digitalization and cloud-based solutions, the Enterprise SaaS landscape remains a hotbed of innovation and investment.
Deals
Foley Represents GGV in $60M Investment in Clara
Foley Represents NEA as Lead Investor in Funding Rounds for Slash
Additional Articles of Interest
Natasha Allen Authors Article on M&A Trends, Canada-U.S. Business Relations
Louis Lehot, Brandee Diamond, and Omar Lucia Author Article on M&A Prospects for 2023
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