Key takeaways
What’s top of mind for those in the High Growth/Venture Capital sector?
Getting an exit
Participants shared that they foresee an increase in secondaries funding rounds in 2024; as well as an increase in so-called ethical exits, when there seem to be too many disagreements to pass by between investors and founders and one side encourages an exit as a “best for everyone” approach.
Roles and careers
For those that might be in-house and thinking that there’s more to them than being a company’s legal counsel, our members advise to always be open to new opportunities and new ideas that may come one’s way, given that in-house counsel can often underestimate their skillset, when they could sometimes be well placed to add value in a business through a number of other roles.
Dealing with a demanding investor
On this topic, one attendee says that the trick here is to figure out what an investor actually wants and be able to meet that true request. It could be that they want substantive information about the business, because that’s how their funding model works, or that a first investor wants to keep on being appreciated for that fact. It could be that one of two coffees a year with the CEO will suffice to fix both instances, she says.
Working well together
In the spirit of collaboration across teams, one of our members advises on the importance of full preparation ahead of a fundraising, not just in legal but in other parts of the business, she says. Whenever possible -- particularly when companies have enough strength and depth -- it might be a good idea for a GC to ask people in certain teams to delegate day-to-day tasks so that a team leader can focus on fundraising issues
What keeps you up at night
Our members highlight that it is usually ethical dilemmas that keep them up at night, including, for example, doing due diligence before a fundraising, and having investors ask for certain information that executive or founders may not want you to provide. One participant said that, in uncomfortable situations, some of the best things to do might be to make sure to tell someone, make sure to keep notes of everything that happens, take external counsel for oneself if needs be and ultimately: no job is worth it if it makes you that uncomfortable, and there's plenty of jobs out there.