As a partner in the business law department and chair of the venture capital practice group, Bob focuses his practice on business, corporate, and partnership law; mergers and acquisitions; and corporate finance law, including venture capital. He has on several occasions acted as the principal author of, and advocate for, amendments to the North Carolina Qualified Business Investment Tax Credit legislation, contained in Article 4, Division V, of Chapter 105 of the North Carolina General Statutes. Bob has significant experience in the representation of all types of investment funds in their formation, internal governance, and investment activities. Among the funds represented by Bob are institutional, bank, corporate, angel, and family funds engaged in a variety of investment activities including venture capital, mezzanine finance, real estate, entertainment, and investments in other funds. He has also represented Small Business Investment Companies in their licensing, formation, and investments.
Representative Matters
Represented sponsors of a real estate investment fund in its organization and capitalization, including organization of the management company for the fund and preparation of the limited partnership agreement, private placement memorandum, and subscription agreement for the fund.
Represented sponsors of a venture capital fund in its organization and capitalization, including organization of the management company for the fund and preparation of the operating agreement, private placement memorandum, and subscription agreement for the fund.
Represented an investor in a venture capital fund in negotiating the terms of the investment.
Represented a venture capital fund in its winding up, including the conversion of the fund to a liquidating trust and obtaining from the Internal Revenue Service a private letter ruling as to the tax consequences of the conversion and the tax status of the trust.
Represented a company being "spun off" from a university, including organizing the company; structuring, negotiating, and documenting the "spin-off" transaction, which involved the transfer to the company by the university of certain rights in exchange for stock in the company; and structuring, negotiating, and documenting $20 million of first-round venture financing.
Publications, Presentations and Awards
North Carolina Super Lawyers, Business/Corporate Law, 2007-2008
Legal Elite, Business North Carolina Magazine, Business Law, 2004-2005, 2008
Best Lawyers in America, Corporate Law, Leveraged Buyouts and Private Equity Law, 2007-2008
The Venture Capital Legal Handbook, Aspatore Books, Contributing Author, 2004
"Selecting and Leveraging Your Board," Conference on Entrepreneurship, Council for Entrepreneurial Development 2003
"Employee Issues," Conference on Venture Capital Financing, CLE International 2003
"Financing Strategy: Different Objectives for Different Rounds," Council for Entrepreneurial Investment 2001.
Professional, Civic and Community Involvement
Professional: Council for Entrepreneurial Development, Board of Advisors, 1998-present; Board of Directors, 1993-1997; Executive Committee, 1994-1995; 1995 Venture Conference, Chair; 2000 Streak Program, Chair; 2001 Conference on Entrepreneurship, Chair; 2004 Infotech Conference, Co-Chair
North Carolina Commission on Business Laws and the Economy, Member, 2003-present
North Carolina Entrepreneurial Development Board, Member, 1994-2000
North Carolina Tax Policy Study Commission, Member, 2000-2003
Civic/Community: Needham Broughton High School Foundation, organizer, Founding Director and Secretary, 2004
Daniels Middle School PTA, Legislative Committee, Chair, 2000-2001; Technology Committee, Chair, 2002-2004
Frances Lacy Elementary PTA, President-elect, 1998-1999; Co-president, 1999-2000
Frances Lacy Elementary School Foundation, organizer, Founding Director and Secretary, 2001-2002
YMCA of the Triangle Area, Board of Advisors of Camps Sea Gull and Seafarer, 1997-present, Chair 2002-present; Camps Sea Gull and Seafarer Scholarship Committee, Chair, 1997-1999; Camps Sea Gull and Seafarer "We Build People Campaign," Chair, 1999-2001; Arapahoe Nation Indian Program Longbow Council, 1998-2000; Youth Basketball Coach. |