The Go-To Law Firm Partner Representing New Sectors For Funds, Portfolio Companies & Investors: Marc Adesso
Marc Adesso is a capital markets partner at top law firm, Akerman, in Austin, Texas. He is also a Founding Board Member of the Texas Venture Alliance and sponsor of the Texas Venture Crawl.
We had the opportunity to ask him some questions around helping companies navigate legal complexities of financings and investments, SEC’s new side letter requirements going into effect, how Akerman is the first large law firm to have a cannabis practice, and more below.
Akerman has established presence at many leading industry events across the country, and has also sponsored new activities such as the Texas Venture Crawl. What do you think of the current state and the potential of Texas with emerging companies?
Texas has always been an economically important state, and is rapidly coming up as possibly the most economically important state, shoulder-to-shoulder with California and New York. Given this deep well of economic activity plus its business friendly climate, Texas is well poised to fuel economic growth of early stage and growth companies.
I think this economic engine fueled with Austin’s pre-existing tech industry infrastructure is a perfect storm for emerging companies. As one of the largest, full service firms in the country, Akerman chose to sponsor the TVA and specifically, the TVC, to demonstrate its excitement and commitment to the growth and development of emerging companies in Austin, as well as the entire state of Texas.
What are the new trends in law that you can help solve for startups and investors?
My practice focuses on helping companies navigate the legal complexities of financing and investment, with particular focus on raising capital through the sale of equity. I believe that there are many companies in Austin poised to raise a game-changing amount of funds via initial public offering (IPO). As the IPO market comes back, myself and Akerman are very excited to be a part of many companies’ growth and success stories!
Are there more specific types of businesses that are best fit for your law practice? What might those be and why?
While Akerman is a full service firm with seasoned practice teams that can handle all of a portfolio company’s or a venture capital firm’s legal needs through the entire life cycle of startup to exit, I largely focus on capital markets and business finance.
The kinds of clients I regularly service are portfolio companies as well as venture capital funds looking to invest in start-ups/emerging growth companies, emerging growth companies getting ready to IPO, and already-public companies and institutions. Indeed, myself and the Akerman team regularly help both funds and portfolio companies with venture financing rounds all the way to exit events.
What are some popular resources you offer startups and investors, and why did Akerman decide to create these offerings? How have they been useful to your clients?
I truly believe that Akerman’s team offers venture capital startups and investors a comprehensive, high-quality, and reasonably priced platform that can assist them with all aspects of their business from the earliest stages through going public and beyond. Our team understands the intricacies of the venture capital space as well as the complexities associated with securities laws and regulations.
You stay on top of the SEC regulations regarding private fund advisors/side letters, cybersecurity, cannabis, and more. Tell us more about your work with that and why you’re passionate about those sectors.
In order to service clients in venture space, you have to know what’s “market”. And, what is “market” today often is not “market” tomorrow. With the SEC’s new side letter requirements going into effect soon, that will bring another interesting change to the industry.
Similarly, the SEC recently published rules regarding cybersecurity disclosures, including when a breach has occurred, so we are regularly engaged in helping companies comply with these new disclosures.
Akerman was the first large law firm to have a cannabis practice, so the firm is deeply involved in serving that industry. In terms of cannabis in Texas, I think we are all on tenterhooks waiting to see who wins the next round of CUP licenses, which results should be coming out in the next few months.
What other professional accomplishments are you proud of and why? Please share any moments, especially that might help others in your practice.
I have been very lucky to have represented numerous first-ever clients, including in the cannabis, crypto/blockchain/token, and REIT industries. I hope that by being a go-to resource for funds,portfolio companies, and investors here in Austin, I will get to help many more first-ever entrepreneurs across the finish line- all the way to an IPO!
View more about Marc on his Texas Venture membership page here.