Venture Funds: Structuring, Advising, and Regulating

Catalog description

This course will introduce students to U.S. legal and regulatory issues relating to venture capital funds and venture capital fund managers. Among other things, the course will cover venture capital fund structuring and formation; the exclusions from Investment Company Act registration requirements on which venture capital funds rely; regulation of venture capital fund managers, including the Investment Advisers Act, ERISA, pay-to-play restrictions and their respective rules and regulations; private placement considerations; the impact of Dodd-Frank on the venture capital fund industry; disclosure obligations and confidentiality concerns; investment restrictions and liquidity options; and terms and conditions of venture capital limited partnership agreements. Enrollment in this class is by Lottery. Attendance at the first class is mandatory for all enrolled and waitlisted students (if any); any enrolled or waitlisted students who are not present on the first day of class (without prior permission of the instructor) will be dropped. The instructor will continue to take attendance throughout the add/drop period and anyone who moves off the waitlist into the class must continue to attend or have prior permission of the instructor in order not to be dropped. Elements used in grading: Attendance, class participation, final exam.