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Thompson Hine LLP, a full-service business law firm with approximately 400 lawyers in 8 offices, was ranked number 1 in the category “Most innovative North American law firms: New working models” by The Financial Times and was 1 of 7 firms shortlisted for The American Lawyer’s inaugural Legal Services Innovation Award. The firm has been recognized by the National Law Journal as a Legal Technology Trailblazer and featured by Bloomberg for its innovative service delivery models, which drive accuracy and predictability. The firm’s commitment to innovation is embodied in Thompson Hine SmartPaTHTM – a smarter way to work – predictable, efficient and aligned with client goals. For more information, please visit ThompsonHine.com and ThompsonHine.com/SmartPaTH.

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It has only been nine months since the SEC’s amendments to the Securities Act took effect with a goal to “facilitate capital formation and increase opportunities for investors by expanding access to capital…” These amendments upgraded Regulation Crowdfunding by: (a) increasing the maximum amount that can be raised annually to $5 million (up from about $1 million), (b) allowing investment through SPVs for cleaner cap tables, (c) removing the cap on investment for accredited investors and (d) changing the investment limits for other investors.

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Not only do we expect to see more companies include a crowdfunding offering as a piece of their fundraising pie, but we also foresee that innovative uses of crowdfunding could further disrupt the status quo of venture capital. In “Crowdfunding the Venture Capital Firm: How the SEC’s Expansion of Equity Crowdfunding Could Redefine Venture Capital Fundraising,” published in the ABA Preferred Returns Newsletter, Fall 2021, <a href="https://www.thompsonhine.com/professionals/lumpkin-layla" target="_self" rel="noopener">Layla Dotson Lumpkin</a> and <a href="https://www.thompsonhine.com/professionals/bean-daya" target="_self" rel="noopener">M. Daya Bean</a> from our <a href="https://www.thompsonhine.com/services/new-ventures" target="_self" rel="noopener">New Ventures</a> practice group discuss the evolution of crowdfunding regulation and examine an example of a novel application of the crowdfunding model – using crowdfunding to fund the operations of a venture capital fund general partner.

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<a href="https://admin.thompsonhine.com/wp-content/uploads/1490/doc/Preferred-Returns_ABA_Fall-2021-Crowdfunding_Lumpkin_Bean_4877-7736-0386_v.1.pdf" target="_blank" rel="noreferrer noopener">Read full article here.</a>

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<a href="https://www.thompsonhine.com/professionals/lumpkin-layla" target="_self" rel="noopener">Layla Dotson Lumpkin</a>&nbsp;or&nbsp;<a href="https://www.thompsonhine.com/professionals/bean-daya" target="_self" rel="noopener">M. Daya Bean</a>

or visit our <a href="https://www.thquicklaunch.com/" target="_blank" rel="noreferrer noopener">QuickLaunch</a> site for startups and investors.

Crowdfunding Continues Changing the “Rules” of Venture Capital

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