Venture Finance SIG: How To Fail With Grace



  • The Monthly Meeting of the Venture Finance SIG

    How To Fail With Grace
    What happens when you have raised money from friends and family and a few VCs and the venture doesn't work out?  How do you make the decision that it is over and you need to wrap it up?  What is the outcome for the investors?  For you?  How do you manage the process so you come out looking the best you can - including being fundable on the next venture? How do you get the most money out of the assets you have - in particular IP assets like software, patents and the like?  What are the wrong steps and the right steps?  Is there liability for you as an officer or board member?
    Never a great topic to think about, but given that many startups fail - you should know this if you are going to be a Silicon Valley entrepreneur.
    Tom Cervantez - Moderator, Corporate Partner at Davis Wright Tremaine LLP
    Robert Blumberg - IP Banker with Soquel Group
    John W. Murray, The Law Firm of Murray & Murray


    Presenter's BIOs:


    Tom Cervantez, Davis Wright Tremaine and Harvard Angels and Golden Gate Angels

    Tom Cervantez is a Corporate Partner with the law firm of Davis Wright Tremaine LLP in San Francisco and founder of the Golden Gate Angels (angel investor group in SF). Tom has over 15 years experience working as a lawyer in the venture capital and startup technology company field in Silicon Valley. Tom's core area of focus is the securities and finance field, with a focus on helping emerging growth companies, venture funds, and software and hardware computer companies navigate issues concerning securities, capital structure planning, private placements, mergers and acquisitions, venture financing and licensing transactions. Tom has also participated at an operating level at several companies, including a venture fund, boutique investment bank and an ISP. Tom is also an active angel investor in the computer, communications and networking sectors and runs the Harvard Angels (angel group for Harvard Business School NorCal Alum and Harvard Club SF) and the Golden Gate Angels investor group in San Francisco. Tom holds a Bachelor's in Business Administration, magna cum laude, from Loyola Marymount University, a JD from Harvard Law School and a MBA from Harvard Business School.

    ROBERT BLUMBERG, Soquel Group
    Robert Blumberg specializes in marketing analysis and the commercialization of intellectual property for high technology companies. His recent engagements include strategic marketing studies for Adobe Systems, ACD Systems, and Stratify. In addition, Blumberg has worked with leading technology companies including Sonic Solutions, Napster and eMotion to commercialize their patent portfolios.

    Previously, Blumberg developed a restart strategy for Fresher Information Systems, and served as it's CEO until the Company was sold. Using its real-time database management technology, Fresher developed Web services and network infrastructure solutions.

    Formerly, Blumberg co-founded and served as executive vice president of Live Picture Inc., where he directed

    product management and marketing for more than ten imaging and Internet products that won over 30 industry awards. He also led a professional services team that sold and implemented internet imaging solutions. While at Live Picture, Blumberg co-founded and served as the Chairman of the Board of the International Industry Imaging Association (I3A), a consortium that develops new standards for digital imaging.

    Blumberg has written numerous articles on data management and holds 4 US patents.

    Blumberg has a M.S. degree in engineering from the University of California at Los Angeles (UCLA) and a B.A. degree in computer science from the University of California at Santa Cruz (UCSC).

    John W. Murray, The Law Firm of Murray & Murray

    Mr. Murray is a senior member and managing director of Murray & Murray, having practiced for 30 years exclusively in the areas of bankruptcy, business reorganization and creditors' and debtors' rights. Mr. Murray's practice is concentrated in Northern California with an emphasis in the greater Silicon Valley business community. He has been involved in more than 670 bankruptcy and bankruptcy-related cases, including over 85 Chapter 11 debtor and trustee representations, 40 Chapter 11 creditors' committee representations, 160 creditor representations, 80 Chapter 7 trustee representations and 120 Chapter 7 debtor representations. He has also acted as an expert witness on bankruptcy issues in a number of civil actions.

    John Walshe Murray received his Bachelor of Arts degree in Economics from the University of California at Berkeley in 1974, and his Juris Doctor degree from Golden Gate University School of Law in San Francisco in 1977.
    Admitted to the State Bar of California in 1977, Mr. Murray is licensed to practice before the Supreme Court of the State of California, the United States District Court for all districts of California, the United States Bankruptcy Court for all districts of California, the United States Bankruptcy Appellate Panel of the Ninth Circuit, the United States Court of Appeals for the Ninth Circuit and the Supreme Court of the United States.


    Event Logistics


    DLA Piper LLP
    2000 University Ave.(University Circle)
    East Palo Alto, CA 94303
    Tel: 650.833.2000
    Note: These are the tall buildings on the corner of University Avenue and Woodland Avenue on the west side of Hwy. 101. They are in the University Circle complex.


    6:30 p.m. - 7:00 p.m. Registration / Networking / Refreshments

    7:00p.m.-8:30 p.m. Panel discussion and Pitch Session (starts promptly at 7:00pm)


    $20 SDForum members

    $30 Non-SDForum members

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