Portfolio Investments

Yigal Arnon & Co. is highly reputed for the services it provides to venture capital and private equity funds, investment companies and strategic investors in their portfolio investments. Our practical business approach and skill in looking 'beyond the legal issues' distinguishes us from other firms and positions Yigal Arnon & Co. as a dominant firm in this practice area. The firm's attorneys have extensive understanding of both the process and the documentation of venture capital and private equity financings, enhancing our ability to assist clients in accomplishing their business objectives in a timely and efficient manner. Adding to our effectiveness is our experience in fund formation, secondary transactions, venture lending and mergers and acquisitions. This provides us with additional insight into the standards by which venture capitalists and private equity professionals assess investment opportunities, the types and terms of securities involved as well as the dynamics of diverse investor groups. Our representation of companies receiving investments and loans gives us the wisdom of the other side's perspective in these transactions, enabling us to close deals efficiently and amicably. Yigal Arnon & Co. represents prominent Israeli and overseas venture capital and private equity funds as well as strategic corporate investors in their portfolio investments in Israeli and “Israel-related” companies. The size and breadth of our portfolio investment practice together with our large startup practice provides us with a broad view of market trends allowing us to advise on evolving market trends as they develop.  The experience of our team and our approach ensures that clients, whether Israeli or non-Israeli, enjoy the highest international standard of professionalism and responsiveness.

Fund Formation and Services

Yigal Arnon & Co. acts as counsel in venture capital and private equity fund formation and maintenance, representing general partners, fund anchors and sponsors, funds of funds and limited partners. The firm provides practical and timely corporate, tax and general legal advice that enables clients to raise private equity and venture capital funds as quickly as the market will allow. Our international networks enable us to work effectively with U.S., European or off-shore legal counsel to advise on Israeli tax and regulatory issues when the need arises, both during and after the fund formation process. Yigal Arnon & Co. has been at the cutting edge of developments in the burgeoning Israeli venture capital scene from the formation of the initial wave of Israeli venture capital funds formed with government assistance in the early 1990s, to the development and formation of innovative accredited crowd funding platforms and TTO-related funds in the last few years. We like to think of ourselves as the fund lawyers’ lawyers, able to help investment professionals create innovative fund structures. In addition to venture capital and private equity funds, Yigal Arnon & Co. represents funds formed to invest in real estate (primarily in the United States) and hedge funds, both fund side and investor side, in conjunction with local counsel.

Venture Lending

Yigal Arnon & Co. has acted as counsel in many venture lending and debt financing transactions. We regularly represent venture lenders and financial institutions both in Israel and across the globe, and have a reputation for solving complex cross-border issues. Our practice includes diverse types of secured, unsecured, mezzanine and other loan transactions, including secured and unsecured credit facilities, asset-based lending and workout loans. As company counsel to high-tech companies in various stages of development, we also frequently represent the borrowers and debtors, which gives us added insight into these types of transactions. We frequently advise on issues relating to insolvency, regulatory compliance, tax and securities laws as they relate to Israeli related credit facilities. With extensive connection within the industry, we are a valuable source of knowledge for non-Israeli investors and financial institutions which require a clear and concise understanding of the complexities that surround Israeli law in these types of cross-border transactions, which can be quite different from the "home" jurisdictions of these lenders.

Secondary Transactions

Yigal Arnon & co. has extensive experience in secondary transactions in venture capital and private equity funds, including the purchase of holdings across multiple funds and transactions for the purchase or sale of entire portfolios of investment. The firm represents secondary funds in their purchase of portfolio investments at the company level as well as purchase of partnership interests in venture capital and private equity funds, advising on transactions small and large, whether the purchase of a stake in a single company or across multiple companies. Yigal Arnon & Co. also represents venture capital and private equity funds selling their portfolios in connection with their liquidation.

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