News

Shearman & Sterling advised HiddenLayer on its $50 million Series A funding co-led by M12, Microsoft's Venture Fund, and Moore Strategic Ventures with participation from Booz Allen Ventures, IBM Ventures, Capital One Ventures and TenEleven Ventures.

Doreen E. Lilienfeld, Shearman & Sterling Global Managing Partner, has been recognized as “Corporate Governance Lawyer of the Year” by the International Financial Law Review (IFLR) as part of its 2023 Women in Business Law Awards. This prestigious recognition honors Doreen’s significant representations over the past year as well as her advocacy, influence and thought leadership in the promotion of women in the practice of law.

Shearman & Sterling is celebrating the five-year anniversary of the firm’s launch in Texas. The global law firm opened its first office in Austin in March 2018 focused on advising emerging growth companies in the technology and life sciences industries, as well as litigation.

Shearman & Sterling advised Amyris on its brand collaboration joint venture with actress and entrepreneur Tia Mowry, through the launch of the haircare line, 4U by Tia, and will be sold at over 2,800 Walmart stores. Amyris will be operating the brand as part of its clean beauty portfolio of brands.

Shearman & Sterling advised Caris Life Sciences, Inc. as borrower on a $400 million senior secured term loan facility provided by OrbiMed and Braidwell. Proceeds of the financing will be used to repay a portion of Caris’s outstanding debt, enhance the company’s precision medicine platform and for general corporate purposes.

Shearman & Sterling acted as legal counsel to Passage Identity (Passage) as they entered into a definitive merger agreement with AgileBits “1Password” (1Password), pursuant to which Passage has become a wholly-owned subsidiary of 1Password. 1Password will use Passage's technology to launch a passwordless authentication platform for enterprises resulting in a safer, simpler, and more secure end-user experience across any platform or device.

Shearman & Sterling received 117 recognitions in the 2023 edition of Legalease’s The Legal 500 United Kingdom, including 20 practice rankings and 62 individuals earned a total of 97 individual recognitions.

Shearman & Sterling has promoted Augusto Ruiloba and Cassandra Cuellar to partner, and Robert O’Leary to counsel in the firm’s Latin America group.

Shearman & Sterling advised Chevron Technology Ventures in its Series G-2 investment, alongside Google, Reimagined Ventures, Sumitomo Corporation of Americas, and TIFF Investment Management, in nuclear fusion company TAE Technologies.

Shearman & Sterling represented Spruce in its $26 million Series B financing from Sweat Equity Partners, SoftBank Corp., Mercury Fund, Fitz Gate Ventures, Seamless Capital, Raven One Ventures, and New Age Ventures.

Shearman & Sterling advised Delta-v Capital in its investment in LogRocket. The funding round was led by global investment firms Delta-v Capital and Battery Ventures, enabling LogRocket to further scale its machine learning capabilities of its innovative digital experience analytics platform and used to grow headcount.

Capital Markets partner and Head of the São Paulo office Roberta Cherman was named Finance Lawyer of the Year 2022 in Latin America by Women in Business. The awards recognize the leading women lawyers and celebrate the law firms that have impressive initiatives to promote diversity and women in the legal industry.

Global law firm Shearman & Sterling announces 12 new partners, effective July 1, 2022. The new partners represent nine of the firm's practices and span across seven of its offices including Abu Dhabi, Austin, Dallas, London, Menlo Park, New York and Washington, D.C. The breadth of their expertise includes Antitrust, Capital Markets, Compensation, Governance & ERISA, Emerging Growth, International Arbitration, Litigation, Project Development & Finance, Real Estate and Tax.

Shearman & Sterling’s commitment to client service was once again honored in the 2022 edition of Chambers USA. The firm was recognized with 106 practice and individual rankings for excellence representing clients across our practices and industries throughout the United States.

Shearman & Sterling advised Volta Trucks AB on its €230 million Series C preferred shares financing, pursuant to which Volta issued and sold its newly created Series C preferred shares to affiliates of Luxor Capital Group, Byggmästare Anders J Ahlström, B-FLEXION and Agility International Investment, among other investors.

Shearman & Sterling advised Chevron Technology Ventures in its investment in Mobilus Labs. Chevron Technology Ventures led a consortium of investors; proceeds will be used to expand deployment of the Mobilus Voice Communications Platform internationally, with a focus on the United States and Europe in the energy, construction, chemical and manufacturing sectors.

Shearman & Sterling advised Volumetric, a Houston-based biofabrication start-up company developing biomaterials and advanced 3D bioprinting technologies, in its agreement to be acquired by 3D Systems in a deal structured as a $45 million closing payment, with up to $355 million additional opportunity linked to a series of milestone earnouts upon the attainment of significant steps in the demonstration of human applications.

Shearman & Sterling advised Welltok in its agreement to be acquired by Virgin Pulse.

Shearman & Sterling advised Chevron Technology Ventures in its investment in Hydrogenious LOHC Technologies. Chevron Technology Ventures joins a consortium of investors; proceeds will support scale up and commercialisation of bulk hydrogen storage and transportation systems, unlocking hydrogen as a globally traded commodity.

Shearman & Sterling advised Chevron Technology Ventures in its investment in the Series B round of financing of Gr3n, a Swiss recycling company. Chevron Technology Ventures joins a consortium of investors.

Shearman & Sterling has promoted 17 lawyers to counsel in nine practice areas and seven of its offices across the United States, Europe, the Middle East and Asia.

Shearman & Sterling represented Schoox in its strategic growth investment from Vista Equity Partners. The investment in Schoox is made by Vista's Endeavor Fund and Schoox plans to use the investment capital to expand its product suite, invest in its workforce, and build on its industry-leading customer support teams.

Shearman & Sterling continues to garner recognition in Chambers USA achieving a total of 104 department and individual rankings in its 2021 guide. The firm is ranked as a leading law firm in 35 practice areas and its attorneys received a total of 69 rankings, including top rankings across our Litigation, Projects and Corporate/M&A practices.

Shearman & Sterling represented Caris Life Sciences Inc. in an $830 million growth equity round. As a result of the transaction, the post-money valuation of Caris is now $7.83 billion. With this most recent investment, Caris has raised approximately $1.3 billion in external financing since 2018.

Shearman & Sterling is pleased to announce the winner of its special award in the 2021 Total EDHEC Entreprendre’s startup competition. Circul’Egg was awarded for its ambitious egg shell project, and the firm will offer 20 hours of legal assistance to foster its development. The startup’s innovative process involves recycling egg shells to obtain calcium carbonate powder and shell membrane powder. This production responds to an expressed need in the animal feed (pets and farm animals), nutraceuticals (food supplements for human consumption) and cosmetics markets.

Shearman & Sterling advised insurtech Next Insurance in its acquisition of AP Intego.

Shearman & Sterling advised Ibere Pharmaceuticals, a blank check company formed for the purpose of effecting a merger in the pharmaceutical and life sciences industries, in its $138 million initial public offering.

Partners Alan Bickerstaff (Austin-Emerging Growth), Gillian Emmett Moldowan (New York-Compensation, Governance & ERISA), Mark Chorazak (New York-Financial Institutions Advisory & Financial Regulatory) and counsel Ryan Au (Washington DC-Tax) presented “How to Set Up and Grow Your U.S. Office” to the U.K. Department for International Trade RegTech Roadshow.

Shearman & Sterling advised Pilot, a financial services software platform, in its $60 million Series C financing led by Sequoia Capital.

Shearman & Sterling is advising Bakkt Holdings, LLC in its agreement to merge with special purpose acquisition company (SPAC) VPC Impact Acquisition Holdings (NASDAQ: VIH), a transaction with an enterprise value of approximately $2.1 billion.

Shearman & Sterling advised Kestra Financial, the parent company of Bluespring Wealth Partners, in Bluespring’s acquisition of Bedell Frazier Investment Counselling.

Shearman & Sterling expanded its Emerging Growth practice in 2018 with the addition of our Austin team to support our startup client base from their early growth stages through their expansion and exit strategies. Today, we are excited to mark a new milestone for the practice with the launch of Navigate by Shearman, a new digital hub that underscores our expertise in the emerging growth space, our commitment to the entrepreneurial community, and to further serve and attract our growing client roster.

Shearman & Sterling advised Caris Life Sciences in the equity portion of its $310 million growth capital financing.

Shearman & Sterling advised insurtech startup Next Insurance in connection with its $250 million Series D financing led by CapitalG, Alphabet's independent growth fund, with participation from FinTLV, a global leading insurtech VC, and existing investor Munich RE Group. The Series D financing values the company at more than $2 billion.

Shearman & Sterling represented Restream Inc., an Austin-based video-streaming company that counts Deepak Chopra, Microsoft Corp. and the World Health Organization as customers, in its $50 million Series A led by Sapphire Ventures and Insight Partners.

Shearman & Sterling advised Liveoak Technologies, Inc. in its sale to DocuSign, Inc. Founded in 2014, Liveoak Technologies is an Austin-based virtual customer engagement and business platform enabling connection, engagement & seamless workflow. DocuSign plans to leverage its existing partnership with Liveoak to accelerate the launch of DocuSign Notary, offering remote online notarization as a service.

Shearman & Sterling represented VMware in its acquisition of Datrium.

Shearman & Sterling represented BuildGroup LLC in connection with its purchase of approximately 1.78 million shares of Series A preferred stock of Benefitfocus, Inc. (NASDAQ: BNFT) in a private placement for an aggregate purchase price of approximately $80 million. BuildGroup CEO A. Lanham Napier is a long-time member of Benefitfocus’ Board of Directors. The transaction was approved by a disinterested special committee of Benefitfocus’ Board of Directors advised by J.P. Morgan. Benefitfocus will use the proceeds from this transaction for general corporate purposes, including potential acquisitions and repayments of debt.

Shearman & Sterling represented VMware in its acquisition of Octarine.

Shearman & Sterling advised SimpliRoute on its $3 million Series A financing from a range of venture capital and financial services firms led by TheVentureCity Fund.

Shearman & Sterling continues to garner recognition in Chambers USA achieving a total of 84 department and individual rankings in its 2020 guide. The firm is ranked as a leading law firm in 25 practice areas and its attorneys received a total of 59 rankings, including Band 1 rankings in across our Litigation, Projects and Corporate/M&A practices in New York, Washington, D.C., Texas and Nationwide.

Shearman & Sterling took the number one spot in Corporate Counsel’s Best Of 2020 readers’ poll in the Corporate Transactions Practice Group category.

Shearman & Sterling advised Eventus Systems on its $10.5 million Series A financing from a range of venture capital and financial services firms, led by Jump Capital and LiveOak Venture Partners.

Shearman & Sterling advised Theatro Labs, Inc. on its $20 million Series C financing led by Sageview Capital, a New York-based venture capital firm.

Shearman & Sterling advised Decisio Health, Inc. on its $13 million Series B financing led by GE Healthcare.

Shearman & Sterling advised Q Engineering, LLC in its acquisition by Enverus (formerly DrillingInfo).

Shearman & Sterling advised Empyrean Benefit Solutions, Inc. in its acquisition by Securian Financial Group, Inc.

Shearman & Sterling advised insurtech startup Next Insurance in connection with a Series C funding round from Munich Re. Next Insurance provides digital small-business insurance coverage across the U.S., including general liability, professional liability, commercial auto and workers’ compensation coverage.

The Shearman & Sterling Fintech Foundry Podcast has launched its first episode, The Value of Mentor-Mentee Relationships, a discussion with Sheryl O’Connor, winner of Quesnay’s Female Founders in Fintech competition and creator of Income Conductor, a platform that provides financial professionals the ability to create and manage income plans that help individuals achieve their retirement goals.

Shearman & Sterling is delighted to announce the firm has joined the Legal and Regulatory Group (LRG) of Global Blockchain Business Council (GBBC), the leading industry association for the blockchain ecosystem.

Shearman & Sterling is pleased to announce that on March 11, 2019, the firm was awarded the inaugural Grand Prize for Professional Equality (“Grand Prix de l’Egalité Professionnelle”) by the Paris Bar, in recognition of its innovative and outstanding contribution to the promotion of equality.

Shearman & Sterling is pleased to announce that startup Income Conductor took first place in the 2018 Female Founders in FinTech (FFiT) competition.

Partner Donna Parisi, Global Head of Shearman & Sterling’s Finance Business Unit, Global Head of the firm’s Financial Services Industry and leader of the firm’s women’s group, Shearman Women, has been included in Innovate Finance’s  Women in FinTech Powerlist 2018 in the "Professional and Financial Services" category.

Shearman & Sterling advised Intercontinental Exchange (ICE) and BAKKT Holdings in connection with BAKKT’s formation and initial equity financing of $182.5 million from an investor  syndicate including ICE; Boston Consulting Group; CMT Digital; Eagle Seven; Galaxy Digital; Goldfinch Partners; Alan Howard; Horizons Ventures; Microsoft’s venture arm, M12; Pantera Capital; PayU, the fintech arm of Naspers; and Protocol Ventures.

The American Lawyer selected CVS Health’s $70 billion acquisition of Aetna, in which Shearman & Sterling acted as legal advisor to CVS Health, as the M&A Deal of the Year. It also named the firm to its A-List, identifying the firm as one of the top-20 law firms in the United States.

Shearman & Sterling is a contributing sponsor for Quesnay’s 2018 Female Founders in FinTech competition.

Partners Clare O’Brien (New York-Mergers & Acquisitions) and Mallory Brennan (New York-Litigation); counsel Rupa Briggs (New York-Capital Markets) and Gillian Emmett Moldowan (New York-Compensation, Governance & ERISA) presented at a program in New York on October 10 entitled “Perfecting Your Pitch: A Practical Program Expanding Opportunities for Women in the Legal Profession” hosted by ALM/American Lawyer.

Counsel J.R. Morgan (Austin-Investment Funds) has been awarded a Texas Lawyer "On The Rise" Professional Excellence Award. This award recognizes lawyers who have made their mark on the legal profession in the Lone Star State. All of the honorees have had, and continue to have, extraordinary careers. J.R.’s profile was published in the September issue of Texas Lawyer magazine, and an awards ceremony was held on September 19 at the Belo Mansion in Dallas.

Shearman & Sterling advised holding company Group 42 on its purchase of Texas Oilfield Fabrication & Pipeline (TOFP). This acquisition adds pipeline and fabrication services to Group 42's family of offerings, and is part of its long-term strategic plan to expand its footprint substantially in the U.S.

Shearman & Sterling is delighted to announce the opening of a new office in Austin – its first in Texas – with seven partners focusing on advising emerging growth companies in the technology, media and telecommunications, and life sciences industries.

Shearman & Sterling advised Credit Suisse as sole book-running manager on the initial public offering of Social Capital Hedosophia Holdings, a special-purpose acquisition company.