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NVCA Webinar: FIRRMA and Its Implications for Venture Capital
NVCA is pleased to host a webinar with WSGR attorneys Stephen Heifetz and Joshua Gruenspecht to review the changing landscape of FIRRMA and what investors should be addressing now.
When: Wednesday, September 5
Time: 1:00-2:00 pm ET / 10:00-11:00 am PT
Location: Online Webinar
- FIRRMA was signed into law on August 13, 2018
- The new law expands CFIUS’s jurisdiction to include investments into startups with foreign co-investors. The bill will also affect U.S. venture funds with foreign LPs
- Mandatory CFIUS filings will become necessary in some cases
- Until the Treasury Department drafts implementing regulations, much of the statute will not take effect
- However, some of FIRRMA takes effect immediately, and the risk of CFIUS intervention in any given covered transaction is rising
NVCA’s work on the issue
NVCA actively engaged during FIRRMA’s consideration, including testimony by former board chair Scott Kupor of Andreessen Horowitz before the Senate Banking Committee and NVCA’s formal submission to the House Financial Services Committee. Ultimately, significant changes were made to FIRRMA that go a long way to protecting passive investment into venture funds and directly into startups. Yet even with these changes, FIRRMA will likely change investment patterns and deal structures going forward.
Learn more about NVCA’s work:
- Recent Tech Crunch article
- Foreign Investment Bill and its Impact on the VC and Startup Ecosystem blog post
This webinar is complimentary for NVCA members and WSGR clients. Non-members will be charged $100.00. Contact Allyson Chappell at firstname.lastname@example.org with any registration issues.