Securities & Venture Capital Attorney in Chicago
Raising capital is one of the most critical and legally complex aspects of building a business. At Liberum Law, our securities and venture capital attorneys in Chicago represent founders, startups, and growth-stage companies in fundraising transactions, investor negotiations, and securities compliance.
Our securities and venture capital practice covers seed and angel financing including SAFE notes, convertible notes, and priced equity rounds, Series A and later-stage venture capital financing, private placement offerings and SEC Regulation D compliance, investor rights agreements, voting agreements, and right of first refusal agreements, board composition and governance structuring for venture-backed companies, stock option and equity incentive plan design and administration, secondary transactions and liquidity events, and securities regulatory compliance for private offerings.
We also advise investors, venture capital funds, and angel groups on investment documentation, due diligence, and portfolio company governance. Our attorneys understand the dynamics of the startup ecosystem and structure transactions that align founder and investor interests.
Whether you are raising your first round of capital or preparing for a significant growth financing, our securities attorneys provide the legal expertise you need. Contact Liberum Law for a free consultation.
Frequently Asked Questions
What does securities counsel cover?
Fundraising compliance (Regulation D, Regulation CF, Reg A+), corporate finance documents (SAFEs, convertible notes, priced rounds), securities registration, investor relations, and ongoing reporting. We represent companies, investors, and funds.
What is Reg D and which exemption applies to my fundraise?
Regulation D provides exemptions from SEC registration for private offerings. Rule 506(b): unlimited accredited investors, no general solicitation. Rule 506(c): unlimited accredited, general solicitation allowed but verification required. Rule 504: limited to $10M, easier verification. Choice depends on investors and marketing approach.
What is a SAFE?
Simple Agreement for Future Equity — Y Combinator's convertible instrument. Investors give cash; SAFE converts to stock at the next priced round at a discount or valuation cap. No interest, no maturity. Most popular early-stage instrument in the U.S. We draft and negotiate SAFEs regularly.
Do I need a lawyer to issue SAFEs?
For 1–3 standard YC-form SAFEs: maybe not. For larger raises, custom terms, multiple investors, or any state registration filings (some states require notice of Rule 506 offerings): yes. The cost of a flat-fee fundraise review is much less than fixing a non-compliant raise later.
What happens at a priced round (Series Seed, Series A)?
Major fundraise with new preferred stock, formal company valuation, comprehensive transaction documents (stock purchase agreement, voting agreement, IRA, ROFR/co-sale, charter amendments). Standard NVCA documents are the starting point. We represent companies and investors at all priced rounds.
