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Advanced Venture Capital 2011


Speaker(s): Annemarie Tierney, Brett T. Palmer, Carey Lai, Curtis L. Mo, Danielle Naftulin, David L. Stepp, Donna M. Petkanics, Douglas Crawford PhD, Jason Doren, Jay A. Hershey, Jeffrey R. Wolters, Jonathan Axelrad, Kathi A. Rawnsley, Kathleen Borie, Katie G. Taormino, Mark C. Kalpin, Nithya Das, Patricia Wyrod, Paul C. McCoy, Peter M. Astiz, Steven J. Tonsfeldt, Thomas W. Kellerman
Recorded on: Dec. 6, 2011
PLI Program #: 29389

Donna M. Petkanics is a partner in the Palo Alto office of Wilson Sonsini Goodrich & Rosati. Her law practice focuses on the representation of growth companies, with a particular emphasis on corporate and securities issues. She represents both privately held and public companies across a broad range of industries, including telecommunications, Internet infrastructure, networking, life sciences, computer software and hardware, clean technology and energy, and electronics. She has experience representing companies in many types of corporate transactions, including mergers and acquisitions, initial public offerings, and joint ventures. She also counsels clients who are starting new businesses with respect to general corporate matters and protection of their intellectual property.

During her tenure at the firm, Donna has served in a number of management positions, including managing director of operations and chair of the Operations Committee from 2000 to 2006; member of the firm's board of directors and Compensation Committee; associate managing partner of the firm; and co-chair of the Hiring Committee and Nominating Committee. She currently is a member of the firm's Policy Committee and served on the board of directors of the Wilson Sonsini Goodrich & Rosati Foundation from 2000 to 2010.

Prior to attending law school, Donna was a staff economist in the Executive Office of the President during Jimmy Carter's administration and also worked for the House of Representatives. She began practicing at Wilson Sonsini Goodrich & Rosati in 1985.

SELECT TRANSACTIONS AND CLIENTS:

  • In the course of her career, Donna has represented companies and underwriters in more than 65 public offerings
  • Public companies Donna has represented include Agilent Technologies, Calgene, Catalytica Energy Systems, Cell Genesys, Cypress Semiconductor, Foundation Health, Hewlett-Packard, LoudCloud, Pacific Biosciences, PMC-Sierra, Solectron Corporation, Sun Microsystems, and Zilog

EDUCATION:
  • J.D., University of California, Berkeley, Boalt Hall School of Law, 1985
  • B.A., Economics, Northwestern University, 1980
    • Member, Phi Beta Kappa

ASSOCIATIONS AND MEMBERSHIPS:
  • Trustee, UC Berkeley Foundation


Douglas Crawford's goal is to help stimulate economic growth in California by promoting cross-discipline academic research and accelerating the transfer of the resulting innovations to the market. Crawford created and manages the first incubator within the University of California, the QB3 Garage@UCSF, which has now expanded to include the QB3 Garage@Berkeley, the QB3 Mission Bay Innovation Center, and the QB3 East Bay Innovation Center. Together these incubators are currently home to 42 companies. Crawford is also a founder and managing director of Mission Bay Capital, an $11.3M seed-stage venture fund that seeks to make pivotal early-stage investments in bioscience companies emerging from UC. He is a board member of Redwood Biosciences (observer), Delpor, and the BayBio Institute. Crawford received his PhD in biochemistry from UCSF.


Jay Hershey is a Managing Director and oversees the Venture Services effort for Piper Jaffray’s Corporate & Venture Services team. Jay also works closely with the firm’s Investment Banking clients within the Clean Technology and Consumer sectors. Jay’s expertise is in the advisory and execution of exit strategies for clients with large equity positions. Over his 17 year career at Piper Jaffray, he has successfully advised and executed well over 1.5 billion shares in equity transactions.

Jay plays a leadership and business development role within the Corporate & Venture Services team. Jay played a key role in establishing the existing Corporate & Venture Services team for Piper Jaffray. Jay founded the Piper Jaffray-Cooley LLC Venture Capital Roundtable in 2001 where annually he is a featured speaker. Jay has been a speaker at the Practising Law Institute’s (PLI) 2011 & 2012 Advanced Venture Capital programs.

Jay graduated with a Bachelor of Business Administration degree in Finance from the University of Iowa.


Kathleen Borie is a member of the Emerging Company Services (ECS) group at PricewaterhouseCoopers. ECS acts as “mentor capitalists” for young, high potential companies, assisting them in numerous ways ranging from reviews of business plans to introductions to Venture Capital firms and service providers who may be relevant to their success.

Before joining PwC, Kathleen had 15 years of experience in marketing and business development roles at companies focused on providing finance and accounting solutions to emerging growth companies in the Bay Area and Southern California. Most recently, she was the Director of Business Development at Accretive Solutions, a national consulting firm.

Prior to that she held sales leadership positions at Capital Advisors Group house (an investment management firm) and Silicon Valley Bank (a lender to technology/life sciences companies).

Kathleen has a BA/MA in Finance from Tufts University.


Katie Taormino is a Partner with SVB Capital’s Venture Capital Relationship Management team. In this role, she oversees strategic relationships with venture capital and law firms by leveraging the diverse financial services of the SVB Financial Group platform.

In her efforts with the venture capital community, Taormino is focused on building and managing unique and strategic relationships with each firm and its individual partners to ensure that SVB is providing the best possible insights, guidan ce, products and services to the firm and its portfolio companies. She delivers market intelligence and provides differentiated interactions that allow them to leverage SVB’s position in the marketplace. In this role, she sources and advises on limited partnership and co-investment opportunities, as well as partner and portfolio company banking opportunities. Similarly, Taormino is focused on managing relationships with a key subset of attorneys that represent the most prominent venture investors and technology companies in Silicon Valley. Her objective in this role is to build roadmaps with each attorney in order to ensure that SVB is providing unique, competitive and efficient solutions to their clients. She delivers market insights and access to the SVB network that allows partners to build their client base.

Taormino has over ten years of relationship management experience in the financial services industry creating, marketing and negotiating innovative lending and banking products. Prior to joining SVB in 2008, Taormino was Vice President at Comerica Bank, where she managed a portfolio of late stage company relationships.

She holds a bachelor's degree in finance from Santa Clara University. She is also a Trustee of Palo Alto University and sits on the advisory board of the Center for Innovation and Entrepreneurship at Santa Clara University.


Paul C. McCoy is a partner in Morgan Lewis's Business and Finance Practice. Mr. McCoy focuses his practice on private investment funds of various types and structures, including funds of funds, funds sponsored or seeded by 501(c)(3) entities, corporate governance funds, venture capital funds, real estate funds, co-investment funds, private equity funds, and hybrid funds. The types of transactions that Mr. McCoy often handles are investments into private investment funds, formations of private investment funds, and the secondary sales of interests in private investment funds (whether individually or as a portfolio).

The following are some of Mr. McCoy's recent transactions:
 

  • Represented a global fund of funds sponsor in the formation of a global secondary fund raising capital commitments in excess of $2 billion
  • Represented a West Coast state government pension plan with respect to a ¢G100 million direct infrastructure co-investment
  • Represented a Midwestern state government pension plan with respect to an investment of over $1 billion simultaneously in a private equity fund of funds, real estate fund of funds, and venture capital fund of funds
  • Represented a West Coast private foundation in the formation of a $60 million venture capital fund focused on making investments in healthcare companies in Africa
  • Represented a Midwestern private foundation in the seeding of a $100 million venture capital fund focused on investing in technologies relating to education
  • Represented an insurance company in connection with fundraising for its $1 billion real estate fund
  • Represented a global investment bank in connection with its formation of multiple funds of funds aggregating in excess of $1 billion in capital commitments
  • Represented a "super-angel" in connection with the formation of multiple venture capital funds
  • Represented a regional bank in connection with a structured secondary sale of a portfolio of private investment fund interests aggregating in excess of $100 million
  • Represented a West Coast state government pension plan with the restructuring of its $1.3 billion investment in a corporate governance fund 

In addition to the large transactions noted above, Mr. McCoy represents clients focused on private investment funds of all sizes. Such clients comprise a diverse roster, ranging from a small seed venture capital fund to entities that are among the world's largest government pensions, private foundations, and funds of funds.

Mr. McCoy began his legal career practicing securities law in London representing issuers of publicly traded securities. He also has significant experience representing sellers and purchasers in venture capital financings. Prior to law school, Mr. McCoy worked as a financial analyst for three years at the U.S. Department of the Treasury. He is a contributing author to the two-volume treatise, Venture Capital & Public Offering Negotiation.

Mr. McCoy is admitted to practice in California and New York.

Honors & Affiliations
  • Listed, "Rising Star," Northern California Super Lawyer (2009 & 2010)
  • Listed, Investment Fund Formation and Management: Private Equity Funds in The
  • US Legal 500 (2010)
  • Member, The State Bar Association of California
  • Member, The State Bar Association of New York
  • Member, The Business Law Panel of the Bar Association of San Francisco

Education
  • University of Virginia School of Law, 1998, J.D. (Law)
  • James Madison University, 1992, B.B.A. (Finance)


Carey Lai is an Investment Director at Intel Capital focused on Internet & Digital Media investments. Carey joined Intel Capital from Institutional Venture Partners (IVP) where he was a Vice President focused on fast growing later-stage investments. While at IVP, he served on the board of MotoSport.com and led investments in both Synchronoss (SNCR) and ConnectAndSell. Other investments Carey actively participated in include ArcSight (HPQ), Business.com (DEXO), Concur (CNQR), Danger (MSFT), Data Domain (EMC), HomeAway, Mobile365 (SAP), and SuccessFactors (SFSF). 

Carey also worked in the Technology Investment Banking Group at Banc of America Securities as a Financial Analyst focused on the Software and Financial Technology sectors. His transaction experience included offerings for some of the leading technology companies in the country, including Blackbaud Software (BLKB), Computer Associates (CA), Hewlett Packard (HPQ), Sungard Data Systems (SDS), and Tibco Software (TIBX). Earlier in his career, Carey worked at PricewaterhouseCoopers focused on the Software sector as well as at eBay in Business Development. Carey holds an M.B.A. from the Wharton School of Business at the University of Pennsylvania and a B.A. in International Economics from the University of California Los Angeles.


Jonathan Axelrad is a partner in the firm's Business Law Department and a member of its Private Investment Funds Practice. He joined Goodwin Procter in 2007.

Work for Clients
 Mr. Axelrad specializes in all aspects of the formation and operation of venture capital and other private equity funds, with a particular emphasis on issues involving partnerships, limited liability companies, tax, ERISA, the Investment Advisers Act and the Freedom of Information Act. He has extensive experience in the areas of international fund structures and "market" terms and conditions. He has also been engaged as an expert witness in matters concerning the structure and operation of venture capital funds. Mr. Axelrad's practice has been devoted almost exclusively to fund services since 1996.

Professional Activities
 Mr. Axelrad has been an active member of several American Bar Association and State Bar of California committees regarding tax, partnerships and limited liability companies. He has served as an Advisory Board member for The Journal of State Taxation; Private Equity Partnership Terms and Conditions, an Asset Alternatives report; and the PE/VC Partnership Agreement Study 2010-2011, published by Reuters.

Professional Experience
 Prior to joining Goodwin Procter, Mr. Axelrad was a partner in the Palo Alto office of Wilson Sonsini Goodrich & Rosati, where he led (and then co-led) that firm's fund services practice. Earlier in his career, he was an associate in the New York office of Sullivan & Cromwell.

Bar and Court Admissions
 Mr. Axelrad is admitted to practice in California.

Recognition
 Mr. Axelrad has been selected for inclusion in Chambers USA: America's Leading Lawyers for Business (National Ranking for Venture Capital/Fund Formations) and The Legal 500 U.S., and was named a "top dealmaker" by AlwaysOn magazine.

Education

  • J.D., Yale Law School, 1987 (Claude R. Lambe Fellowship)
  • B.A., Wesleyan University, 1984 (Phi Beta Kappa)


Mark C. Kalpin is a partner in the firm's Regulatory and Government Affairs Department, and is co-chair of the firm's Cleantech and Energy Group. He joined the firm in 1995.

Mr. Kalpin regularly advises clients on all aspects of energy law, and focuses on the development of traditional and renewable energy generation projects. He has assisted cleantech and renewable energy project proponents in obtaining and negotiating the terms of grants, loans and loan guarantees from the Department of Energy and other agencies, and frequently represents clients on policy and regulatory issues before the Federal Energy Regulatory Commission, the Department of Energy, state Public Utility Commissions, and other Federal and state agencies. Mr. Kalpin has negotiated project development and finance-related agreements, including equipment purchase agreements, EPC and facility construction contracts, fuel supply agreements, and power sales agreements, for projects ranging in size from large merchant power plants to small-scale wind and solar power projects. 

Mr. Kalpin is the President of the Northeast Energy and Commerce Association (NECA), the Co-Chairman of The New England Council's Energy and Environment Committee, and a past Chairman of the American Bar Association's Energy Facilities and Siting Committee. He currently serves on several advisory task forces that have been convened by the Massachusetts Executive Office of Energy and Environmental Affairs, including the Large-Scale Retail Development Solar and Efficiency Measures Task Force, and the Greenhouse Gas Emissions Policy and Protocol Working Group. Mr. Kalpin was with the Federal Energy Regulatory Commission's Office of Pipeline and Product Regulation from 1986 to 1993. He was named as a "New England Super Lawyer" in environmental/land use and energy/natural resource laws in the 2004, 2005, 2006, 2007, 2008, 2009, 2010 and 2011 issues of Boston Magazine.

Education

  • JD, George Washington University National Law School
  • MS, West Virginia University
  • BS, University of Massachusetts

Bar Admissions

  • Massachusetts
  • District of Columbia


Danielle Naftulin's practice focuses on the representation of issuers and venture capital investors in the formation and financing of emerging technology and life sciences companies. She also counsels emerging companies with respect to mergers and acquisitions, recapitalizations, spin-outs and general corporate matters, and she has experience representing companies with respect to their initial public offerings and various other public financing and strategic transactions. Danielle also advises public companies with respect to their reporting requirements and corporate governance obligations.

Danielle has been a guest speaker on venture capital transactions and other corporate matters at UCLA School of Law, Santa Clara University School of Law and Stanford Law School.

Education 

UCLA School of Law 
JD, 2000

University of Michigan, Ann Arbor 
AB, 1997, History, with honors 

Bar Admissions
California

 

 


Peter Astiz focuses on general counsel services for high technology companies; private and public financing transactions; and mergers and acquisitions. 

Peter represents both issuers and underwriters in initial public offerings and follow-on offerings as well as convertible debt offerings under Rule 144A. Among his many IPOs, Peter represented salesforce.com in the first SaaS IPO and the underwriters in connection with the Groupon IPO. He also represents buyers and sellers in public and private merger and acquisition transactions. Peter also represents issuers and venture capitalists in venture capital and other private placement financings.

Peter was previously Chief Operating Officer and General Counsel of Emusic.com (Nasdaq:EMUS).

CREDENTIALS

Education

University of San Francisco (1982) J.D.
Articles Editor, Law Review

University of California at Berkeley (1979) B.S.
Business Administration, specializations in accounting and finance

Admissions

California


Steven Tonsfeldt represents public and private companies in domestic and cross-border M&A transactions, contested transactions, hostile takeovers and defense planning. He also advises private investors and their portfolio companies on investment and acquisition transactions, and financial advisors working with companies engaged in transactional matters.

Over the past several years, Steve has led lawyer teams in acquisition transactions having an aggregate value of well over US$100 billion.

Steve has been ranked in Corporate/M&A by Chambers USA for more than a decade. The American Lawyer has named Steve a Dealmaker of the Week. He has been recognized as a leading corporate lawyer in The Best Lawyers in America, Lawdragon, The Legal 500 and Who's Who Legal: Corporate - M&A and Governance. San Francisco Magazine has named Steve a Northern California "Super Lawyer" for many years. Steve is a past member of the Law360 M&A editorial advisory board.

Steve is a frequent speaker on corporate and M&A topics. He served on the coordinating committee for the American Bar Association's most recent Delaware Business Law Forum.

Prior to law school, Steve worked as a certified public accountant with Deloitte & Touche. He also taught accounting at UC Berkeley's Haas School of Business as a graduate student instructor.

Bar Admissions

  • California


Thomas W. Kellerman represents companies, investment banks, and venture capital funds, advising technology industry clients on public offerings, mergers and acquisitions (M&A), venture capital and other private finance transactions, and corporate governance matters. Having practiced in London for four years, Tom has experience in cross-border transactions for technology companies.

Tom represents issuers and underwriters in equity financing matters, and has handled more than 75 public offerings and advised on hundreds of venture capital and private placement transactions.

A frequent speaker at the US Practising Law Institute and the Director Education and Certification Program of the UCLA Anderson School of Management, Tom lectures on corporate governance, securities, and finance issues.

Tom serves as a board member for three nonprofit organizations: the Montana Academy Foundation, the Silicon Valley Campaign for Legal Services (SVCLS), and Computers for Everyone.

AWARDS AND AFFILIATIONS

Listed, The Best Lawyers in America (2007–2017)

Listed, The Legal 500 United States (2011–2015)

Admitted to the California Bar, 1980

Former Co-Chair, Education Committee of the Business Law Section of the California State Bar

ADMISSIONS

California

EDUCATION

University of California, Los Angeles School of Law, 1980, J.D.

Western Illinois University, 1976, B.A.

SECTORS

Life Sciences

Technology

SERVICES

Securities & Corporate Governance

Mergers & Acquisitions

Technology Transactions

Environmental Counseling & Litigation

Private Equity

Corporate, Finance & Investment Management

Emerging Business & Technology

Life Sciences Transactions

REGIONS

North America

Asia Pacific

India


Annemarie Tierney is the Founder and Principal of Liquid Advisors, a consulting firm offering strategic advisory services around private placements and secondary liquidity structuring and regulatory requirements, including for digital or token-based securities.  Previously, Annemarie was the Chief Strategy Officer and General Counsel of Templum, Inc., a registered broker dealer/alternative trading system approved to conduct primary offerings and secondary trading in unregistered digital securities.  Annemarie is a seasoned financial services lawyer/strategist with substantial SEC, law firm, and in-house legal experience, as well as experienced in broker dealer regulation, blockchain legal and regulatory issues, securities transactional work, SEC rules and regulations, corporate governance, and international expansion.  Annemarie has led a broad range of regulatory and legislative thought leadership initiatives in the private issuer space and is a frequent speaker on a range of private market topics.  Annemarie previously served as Head of Strategy at Nasdaq Private Market and as the General Counsel of SecondMarket, Inc., now Digital Currency Group.  Annemarie has also worked at the Securities and Exchange Commission, Skadden Arps Slate Meagher & Flom, the NYSE and NYFIX.  She is a member of the Board of Directors of the Association of SEC Alumni and a former member of the SEC’s Advisory Committee on Small and Emerging Companies.   She earned her BA/BS in Finance and International Relations from the Alfred Lerner College of Business and Economics at the University of Delaware and her JD from the Catholic University of America.  Annemarie is also FINRA series 7 and 24 licensed.


As a start-up specialist who has nurtured dozens of fledgling companies through their early stages, Kathi Rawnsley sees her job as part lawyer and part coach. Many of her clients are entrepreneurs dealing with new and often unfamiliar challenges. In helping them work through the myriad complexities of founding a technology company — many with legal implications — she regularly finds herself answering questions such as "Is this normal?" "Is that right?" and "What do you suggest?"

Kathi’s background makes her amply equipped to answer these questions. Before joining the firm, she served as regional counsel (and for a short while, acting general counsel) of Intel Capital — the venture capital arm of the technology giant and one of the world’s most active venture investors — where she played a key role in substantial investments in a wide range of start-ups.

Steeped in the no-nonsense business culture of Silicon Valley, Kathi understands entrepreneurs and the pressures they face. She knows from long experience that the company is their “baby” and that their roles change once they accept outside investors. From that point on, they are in the unfamiliar position of having board members to whom they must answer — and Kathi is adept at helping them make the adjustment so they can work effectively in their new circumstances. She helps with their financing. She negotiates their contracts. She helps them think through issues related to building a team, growing beyond Beta and putting together scenarios around an eventual exit. Kathi is also an active player in the start-up community. She was a co-founder of FirstGrowthVC, which provides a formal mentoring program and peer group for high-potential tech entrepreneurs.

Kathi believes in collaborative — as opposed to adversarial — lawyering. To her, winning every last point is less important than reaching a solution that results in a win for everyone. A large number of now-successful companies have received the benefits of this approach.

REPRESENTATIVE ENGAGEMENTS

  • Represented Andreessen Horowitz in connection with its investment in Zulily.
  • Represented Advance Publications (Condé Nast) in connection with its investment in Rent the Runway.
  • Represented Continuuity, Inc., in its seed and Series A Preferred Stock financings.
  • Represented VigLink, Inc., in its Series A and Series B Preferred Stock financings.
  • Represented BirchBox in its acquisition of Paris-based JolieBox.

PUBLICATIONS

  • Silicon Valley: Still At The Head Of The Class
    Metropolitan Corporate Counsel, January 2009
    Kathi Rawnsley
  • Barbie Disciplines a Brat: Playing with the Wrong Dolls Can Cost $100 Million
    BNA: Patent, Trademark & Copyright Journal, October 31, 2008
    David Leit, Kathi Rawnsley
  • Barbie Disciplines A Brat: Playing with the Wrong Dolls Can Cost $100 Million
    Tech Group Client Alert, September 2008
    David Leit, Kathi Rawnsley

PRESS MENTIONS

  • Gary Wingens, Kathi Rawnsley and Ed Zimmerman discuss the strategic growth of Lowenstein Sandler's Palo Alto office. , Daily Journal , June 16, 2011
  • In a San Francisco Chronicle article, FirstGrowthVC, founded by Ed Zimmerman, Kathi Rawnsley and Raymond P. Thek, is highlighted for giving the New York venture capital community access to talent, fellow entrepreneurs, venture capitalists and angel investors. , San Francisco Chronicle, Business Insider , July 7, 2010
  • The firm's addition of Kathi Rawnsley, Member and co-founder of the Silicon Valley office in Palo Alto, CA, and Brad Arington, Counsel, is highlighted. Both have joined as members of the Tech Group. , Metropolitan Corporate Counsel , August 2008
  • The firm's addition of Kathi Rawnsley, who joins as a member of its Tech Group and will lead the firm's new Silicon Valley office in Palo Alto, CA, and Brad Arington, is highlighted in Movers & Shakers. , Daily Deal/The Deal , May 21, 2008

RELATED AREAS

Corporate
The Tech Group
Venture Capital, Angel Investing, and M&A

EDUCATION

Santa Clara University School of Law ( J.D. , 1995 ) , cum laude

University of Vermont ( B.A. , 1988 )

BAR ADMISSIONS

California

AFFILIATIONS

Juvenile Diabetes Research Foundation in Silicon Valley, Board Member

Silicon Valley Walk to Cure Diabetes, Chair

NVCA Model Legal Documents Annual Meeting, Co-chair

CFO/In-House Counsel track, NVCA Annual Meeting, Co- organizer

 


Curtis is recognized as a leading corporate and securities lawyer in Silicon Valley.

Curtis has represented emerging growth companies, major public companies,investment banks, venture capital funds and private equity funds in hundreds of public offerings, mergers and acquisitions, buyouts, venture capital financings and other complex transactions. He has extensive experience in corporate governance matters and regularly acts as general outside counsel to public and private companies at all stages of development, particularly in the technology, life sciences and consumer sectors.

Curtis was the founding and managing partner of the Palo Alto office of two different national law firms, and co-chair of the Corporate group in Silicon Valley for a third. He is a past co-Chair of PLI’s Annual Institute and founded and co-Chairs PLI’s Venture Capital series.


Jeff has practiced corporate law for twenty-five years, serving as “Delaware counsel” on hundreds of transactions involving venture-backed companies, as well as public corporations and Delaware entities generally. He has been involved in some of the most important litigation involving venture-backed companies, including the Benchmark, Watchmark and Thoughtworks cases.  Jeff has been a frequent speaker at VCGC meetings, law firms, ABA meetings and PLI conferences, and has taught courses on corporate law at University of Pennsylvania Law School and Villanova Law School.

Jeff is an editor of the leading treatise Delaware Corporation Law and Practice (Matthew Bender); his recent articles include Private Company Financings:  Delaware Court Provides Guidance for Boards and Venture Funds, Delaware Law Pitfalls in IPOs, Breacher Beware:  Contract Damages in Delaware M&A Decisions, and Running a Proper Independent Committee Process.


Patricia Wyrod represents technology companies through all aspects of their early growth.  In 2014-2015 she was the General Counsel of e-commerce and social media marketing company ipsy.com, founded by YouTube beauty celebrity Michelle Phan.  As General Counsel she advised ipsy through 2.5x growth in revenue, curation of a 10M member online beauty community and a $100M Series B funding round led by TPG Growth.

From 2008 to 2013 she was the Assistant General Counsel at Silver Spring Networks, an IoT device networking company. The company’s revenue grew 20x in five years, culminating in an IPO in 2013. 

She served as Vice President of Legal for global software company SPL WorldGroup for five years, which was acquired by Oracle.

Patricia received her law degree from the University of Michigan Law School and a B.A. from the University of Michigan Honors College.  She earned an advanced degree in European Union law from the College of Europe, Belgium.


As General Counsel of SVB Capital, Jason Doren is responsible for all legal and regulatory matters for SVB Capital and its family of investment funds. SVB Capital is a division of SVB Financial Group and manages over $3 billion in venture capital investments for third-party investors.  Jason also serves as Assistant General Counsel of SVB Financial Group where he is responsible for a variety of matters including strategic investments and Silicon Valley Bank’s government affairs efforts.

Jason has over 20 years of legal and venture capital industry experience. He co-chairs the NVCA Venture Capital General Counsel group, as well as the Advanced Venture Capital seminar for the Practising Law Institute, a non-profit committed to continuing legal education, and has served on the Advisory Board for the Stanford Directors' College for Venture-Back Companies. Prior to joining SVB in 2006, Jason was with Cooley LLP where he represented venture capital funds and venture capital-backed companies as an outside general counsel. Prior to Cooley, he was a trial attorney with Bronson, Bronson & McKinnon LLP in San Francisco.

Jason earned his law degree from the UCLA School of Law and holds a B.S. in finance, summa cum laude, from the University of Illinois. He is also a licensed pilot, avid skier and cyclist and the proud father of two young children.


As General Counsel, David Stepp is responsible for day-to-day legal matters arising from Venrock’s investments, operations, fund formations and regulatory compliance. David joined Venrock in 2007 from Cooley, where he was a member of the firm’s business department, in the venture capital practice group. David’s practice at Cooley focused on the formation and representation of venture capital partnerships and other investment funds, as well as the formation, financing, and representation of emerging growth companies. Additionally, his practice included the representation of public companies in public offerings, private placements, mergers and acquisitions, and periodic reporting requirements. These practice areas complement each other well and serve Venrock and our portfolio companies.

David is a member of the State Bar of California and the American Bar Association. He earned his B.S. in Molecular and Cellular Biology from the University of Arizona and his J.D. from Harvard Law School.