Venture Capital – Duane Morris and Selvam

August 18, 2024 by Duane Morris & Selvam

Duane Morris & Selvam LLP Appoints Suilyn-Yip as Head of Venture Capital

SINGAPORE, August 19, 2024 — Duane Morris & Selvam LLP is pleased to announce the appointment of Suilyn Yip as Head of Venture Capital. Suilyn, a distinguished partner in the firm’s full-service corporate practice, will bring her extensive expertise in corporate law to this pivotal role, further enhancing the firm’s venture capital practice and solidifying its position as a leading advisor in the sector.

With a broad practice that includes mergers and acquisitions, private equity, investment funds, finance and corporate governance, Suilyn is well-equipped to lead the firm’s venture capital efforts. Her comprehensive background will enable her to provide strategic solutions to startups and sophisticated investors in a rapidly evolving market.

“I am honored to step into this new role and to contribute to our Firm’s growth in the venture capital space,” said Suilyn. “Our goal is to offer unparalleled support to emerging companies and venture investors by combining our corporate expertise with an understanding of the dynamic nature of venture capital. I look forward to collaborating with our talented team to drive success for our clients.”

Leon Yee, Chairman of Duane Morris & Selvam, added, “Suilyn’s appointment as Head of Venture Capital is a great milestone for our firm. Her innovative approach towards transactions makes her the ideal leader to elevate our venture capital practice. Suilyn’s strategic vision and dedication will undoubtedly contribute to the continued success and growth of our clients and our firm. We are excited to see the impact she will make in this new role.”

Suilyn’s appointment is part of Duane Morris & Selvam’s ongoing commitment to delivering exceptional legal services and expanding its capabilities to meet the evolving needs of its clients. The firm’s venture capital practice will benefit significantly from her leadership and deep industry insights.

For more information about Suilyn Yip and Duane Morris & Selvam’s venture capital services, please visit www.duanemorrisselvam.com.

About Duane Morris & Selvam LLP
Duane Morris & Selvam LLP is a joint law venture between international firm Duane Morris LLP and Singapore-based firm Selvam LLC. Duane Morris & Selvam runs a unique Latin American-Asian practice out of Singapore, with a team of international lawyers qualified in multiple jurisdictions including Singapore, the U.S., the U.K., Canada, Mexico and Colombia, with substantial experience in international transactions and disputes. Duane Morris & Selvam also has cooperative relationships with some of the best Latin American and Asian law firms.

April 24, 2023April 24, 2023 by Duane Morris & Selvam

Lawyers Beat the Bankers in the 10th Annual Charity Cricket Match in Mumbai

SINGAPORE, 25 April 2023 ― The 10th annual bankers vs. lawyers charity cricket match was held in Mumbai last month, with the lawyers winning by 22 runs. The lawyers scored 160 runs all out in their 20 overs and the bankers scored 133-8 off their 20 overs.

Continue reading “Lawyers Beat the Bankers in the 10th Annual Charity Cricket Match in Mumbai”

July 6, 2022July 6, 2022 by Duane Morris & Selvam

Singapore Private Equity and Venture Capital Landscape Series – Limited Partnerships

Limited partnerships (LPs) are commonly used globally as fund vehicles for both private equity (PE) and venture capital (VC) funds. In Singapore, LPs were created as a business vehicle by the Limited Partnerships Act in 2008 (the Act), which came into effect on 4 May 2009 as part of Singapore’s efforts to become a fund management hub.

Those efforts have been supplemented by a myriad of other measures including (a) the creation of variable capital companies (VCCs) by the Variable Companies Act 2018, which came into force only on 14 January 2020; (b) the establishment of several classes of fund management licences including the venture capital fund management licence; and (c) a favourable tax environment that includes a one-tier system of taxation of income, no capital gain taxes and an extensive network of double taxation treaties, as well as several incentive schemes and grants. We will discuss these measures in more detail in other articles. Continue reading “Singapore Private Equity and Venture Capital Landscape Series – Limited Partnerships”

May 5, 2022 by Duane Morris & Selvam

新加坡私募和风投行业系列 – 简介篇

近年来，新加坡已迅速成长为全球资产管理行业（资管行业）的中心，众多投资者和资管经理汇集于此。2020 年，新加坡的资产管理总额 (AUM) 增长了 17%，达 4.7 万亿新元，高于 2019 年的 4万亿新元¹。这种强劲的增长是由大量流入的传统和另类投资资金所驱动的，包括私募股权 (私募) 和风险投资 (风投)。那一年，私募和风投的资产管理总额分别增长了 54% 和 49%，达到 3,750 亿新元和 160 亿新元。我们认为，新加坡资产管理规模将在未来几年将持续保持增长势头。

Continue reading “新加坡私募和风投行业系列 – 简介篇”

April 25, 2022July 6, 2022 by Duane Morris & Selvam

Singapore Private Equity and Venture Capital Landscape Series – A Brief Introduction

Singapore’s asset management industry has fast become a global hub for investors and managers and is central to the country’s financial services industry. In 2020, total assets under management (AUM) in Singapore grew 17 percent to reach S$4.7 trillion, up from S$4.0 trillion in 2019[1]. This robust growth was driven by strong inflows into both traditional and alternative investment strategies, including the private equity (PE) and venture capital (VC) asset classes. PE and VC AUM grew by 54 percent and 49 percent to S$375 billion and S$16 billion, respectively, in that year. In our view, the size of the industry in Singapore will continue to grow in the coming years.

Continue reading “Singapore Private Equity and Venture Capital Landscape Series – A Brief Introduction”

July 22, 2021April 25, 2023 by Duane Morris & Selvam

Down Round Fundraising: Some Insights

The spread of COVID-19 has undeniably driven the accelerated adoption of fintech solutions across Southeast Asia and leading fintech start-ups have in recent times found themselves to be in a good position to raise more capital. However, the harsher reality of the pandemic and the economic turmoil has in fact had a significant adverse impact on equity values and valuations of companies across the world, including Southeast Asia.

Start-ups looking to raise capital by across multiple rounds of fund raising may not be able to do so in the usual fashion where each subsequent round is closed at a higher price per share than the last. The spectre of “down rounds” or the issuance of shares at lower prices than previous rounds, is now an increasing reality.

For companies that have issued earlier rounds of convertible preferred equity, a down round is likely to result in the application of anti-dilution mechanisms attached to such preceding preferred equity.

This briefing will look into some anti-dilution mechanisms commonly adopted in convertible preferred equity, highlight the issues that both investors and issuers need to keep in mind when negotiating these provisions and briefly touch on possible alternatives to a down round.

Anti-dilution mechanisms

There are three common types of anti-dilution protection mechanisms used in convertible preferred equity. They are: Continue reading “Down Round Fundraising: Some Insights”