Foley Partner Louis Lehot was quoted in The Information article titled, “Startup Founders Use Record-High Valuations to Cash Out Earlier.” The article discusses the past year’s funding boom and how founders of young companies are increasingly selling millions of dollars of shares in the earliest stages of the capital-raising process.
Lehot commented, “It used to be that founders would ask for [secondary sales]. Now, venture capitalists are coming out of the gate with it. Half of Series A and B deals now have some secondary component for founders.”
Read the full article here (subscription required). Lehot’s quote also appeared in the Grant’s Interest Rate Observer article titled “Early Risers” here.