Representative Matters

Biotechnology

Represented a US-based drug development and manufacturing company in connection with a post-closing CFIUS inquiry regarding an investment from a US-based investor.

  • Transaction Size: >$30M
  • Timing of Inquiry: 35 months after closing.
  • Outcome: The parties responded to two rounds of questions and CFIUS did not request a formal filing.

Represented a US-based pharmaceutical company leveraging algorithms to facilitate efficient small molecule drug discovery in connection with a post-closing CFIUS inquiry regarding a minority investment from a Saudi Arabian fund.

  • Transaction Size: >$30M
  • Timing of Inquiry: 36 months after closing.
  • Outcome: The parties responded to two rounds of questions and CFIUS did not request a formal filing.

Represented an early-stage therapeutics company founded in Singapore with certain operations based in the US in connection with a post-closing CFIUS inquiry regarding a minority investment from a Chinese private equity firm.

  • Transaction Size: $1M - $5M
  • Timing of Inquiry: 6 months after closing.
  • Outcome: The parties responded to three rounds of questions and CFIUS did not request a formal filing.

Represented a publicly traded corporation based in Australia in connection with a post-closing CFIUS inquiry regarding its acquisition of a US-based life sciences company offering at-home DNA tests.

  • Transaction Size: $1M - $5M
  • Timing of Inquiry: 6 months after closing.
  • Outcome: The parties responded to one round of questions and CFIUS did not request a formal filing.

Represented a US-based biotechnology company developing next-generation nucleic acid sequencing in connection with a post-closing CFIUS inquiry regarding a minority investment from a Chinese venture fund.

  • Transaction Size: $1M - $5M
  • Timing of Inquiry: 9 months after closing.
  • Outcome: The parties responded to three rounds of questions and CFIUS did not request a formal filing.

Represented a US-based genomics company with FDA-approved platforms in connection with a post-closing CFIUS inquiry regarding its minority investment from a global investment fund headquartered in Singapore.

  • Transaction Size: $5M - $30M
  • Timing of Inquiry: 3 months after closing.
  • Outcome: The parties responded to one round of questions and CFIUS did not request a formal filing.

Represented a molecular cancer testing company founded in the US in connection with a post-closing CFIUS inquiry regarding its minority investment from a Singaporean investment firm.

  • Transaction Size: $5M - $30M
  • Timing of Inquiry: 4 months after closing.
  • Outcome: The parties responded to two rounds of questions and CFIUS did not request a formal filing.

Represented a US-based company developing genome engineering platforms for automated CRISPR-based editing of microbial cell populations in connection with a post-closing CFIUS inquiry regarding its minority investment from a life sciences venture fund headquartered in China.

  • Transaction Size: $5M - $30M
  • Timing of Inquiry: 56 months after closing.
  • Outcome: The parties responded to three rounds of questions and CFIUS did not request a formal filing.

Represented a US-based life sciences company developing anti-cancer drugs in connection with a post-closing CFIUS inquiry regarding a minority investment from a Luxembourgian venture fund with a focus on innovative medicine.

  • Transaction Size: $5M - $30M
  • Timing of Inquiry: 37 months after closing.
  • Outcome: The parties responded to one round of questions and CFIUS did not request a formal filing.

Represented a US-based clinical-stage biopharmaceutical company in connection with a post-closing CFIUS inquiry regarding its collaboration agreement with a life sciences company based in China.

  • Transaction Size: N/A
  • Timing of Inquiry: 31 months after closing.
  • Outcome: The parties responded to two rounds of questions and CFIUS did not request a formal filing.

Represented a US-based venture capital firm in connection with a post-closing CFIUS inquiry regarding its minority investment in a US life sciences company producing low-profile personal wearable defibrillators.

  • Transaction Size: $5M - $30M
  • Timing of Inquiry: 5 months after closing.
  • Outcome: The parties responded to three rounds of questions and CFIUS did not request a formal filing.

Represented a Cayman Islands holding company in connection with a post-closing CFIUS inquiry regarding its acquisition of a US-based company that obtains regulatory approval for pharmaceuticals marketing.

  • Transaction Size: $5M - $30M
  • Timing of Inquiry: 10 months after closing.
  • Outcome: The parties responded to two rounds of questions and CFIUS did not request a formal filing.

Represented a US-based clinical-stage biotechnology company developing small-molecule therapeutics in connection with a post-closing CFIUS inquiry regarding a minority investment from a venture capital fund headquartered in China.

  • Transaction Size: <$1M
  • Timing of Inquiry: 33 months after closing.
  • Outcome: The parties responded to two rounds of questions and CFIUS did not request a formal filing.

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Energy and renewables

Represented a US commercial manufacturer of silicon battery technology in connection with a post-closing CFIUS inquiry regarding a minority investment from a South Korean semiconductor manufacturer.

  • Transaction Size: $5M - $30M
  • Timing of Inquiry: 47 months after closing.
  • Outcome: The parties responded to three rounds of questions and CFIUS did not request a formal filing.

Represented a Hong Kong-based investor in connection with a post-closing CFIUS inquiry regarding its minority investment in a US company developing wireless charging technology.

  • Transaction Size: N/A
  • Timing of Inquiry: 44 months after closing.
  • Outcome: The parties responded to two rounds of questions and CFIUS did not request a formal filing.

Represented a US-based engineered materials company focused on improving energy storage in connection with a post-closing CFIUS inquiry regarding a minority investment from a venture capital firm headquartered in China.

  • Transaction Size: $5M - $30M
  • Timing of Inquiry: 54 months after closing.
  • Outcome: The parties responded to three rounds of questions and CFIUS did not request a formal filing.

Represented a US-based battery technology company producing anode and cathode materials in connection with a post-closing CFIUS inquiry regarding a minority investment from a China-based investment fund.

  • Transaction Size: $1M - $5M
  • Timing of Inquiry: 41 months after closing.
  • Outcome: The parties responded to two rounds of questions and CFIUS did not request a formal filing.

Represented a US commercial manufacturer of silicon battery technology in connection with a post-closing CFIUS inquiry regarding a minority investment from a battery manufacturing company headquartered in China.

  • Transaction Size: $5M - $30M
  • Timing of Inquiry: 6 months after closing.
  • Outcome: The parties responded to three rounds of questions and CFIUS did not request a formal filing.

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Manufacturing

Represented a medical device manufacturer based in the US in connection with a post-closing CFIUS inquiry regarding its minority investment from a Cayman Islands fund.

  • Transaction Size: $5M - $30M
  • Timing of Inquiry: 8 months after closing.
  • Outcome: The parties responded to one round of questions and CFIUS did not request a formal filing.

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Quantum computing and semiconductors

Represented a US-based fabless provider of substrate technology for the semiconductor industry in connection with a post-closing CFIUS inquiry regarding a minority investment from a South Korean manufacturing company.

  • Transaction Size: $5M-$30M
  • Timing of Inquiry: 11 months after closing.
  • Outcome: The parties responded to two rounds of questions and CFIUS did not request a formal filing.

Represented a silicon photonics innovator based in the US in connection with a post-closing CFIUS inquiry regarding a minority investment from a fund organized under the laws of Taiwan.

  • Transaction Size: $1M - $5M
  • Timing of Inquiry: 33 months after closing.
  • Outcome: The parties responded to two rounds of questions and CFIUS did not request a formal filing.

Represented a semiconductor technology company based in the US in connection with a post-closing CFIUS inquiry regarding a minority investment from a South Korean semiconductor company.

  • Transaction Size: $1M - $5M
  • Timing of Inquiry: 3 months after closing.
  • Outcome: The parties responded to three rounds of questions and CFIUS did not request a formal filing.

Represented an integrated systems company building quantum computers and processors in connection with a post-closing CFIUS inquiry regarding its minority investment from a Singapore-based fund.

  • Transaction Size: $1M - $5M
  • Timing of Inquiry: 11 months after closing.
  • Outcome: The parties responded to four rounds of questions and CFIUS did not request a formal filing.

Represented a US silicon photonics company developing LiDAR solutions in connection with a post-closing CFIUS inquiry regarding its minority investment from an entity ultimately controlled by a Chinese investment fund.

  • Transaction Size: $1M - $5M
  • Timing of Inquiry: 13 months after closing.
  • Outcome: The parties responded to two rounds of questions and CFIUS did not request a formal filing.

Represented a US-based fabless manufacturer developing ultra-low power integrated circuits in connection with a post-closing CFIUS inquiry regarding its minority investment from a global investment fund based in China.

  • Transaction Size: <$1M
  • Timing of Inquiry: 46 months after closing.
  • Outcome: The parties responded to three rounds of questions and CFIUS did not request a formal filing.

Represented a US-based fabless manufacturer developing ultra-low power integrated circuits in connection with a post-closing CFIUS inquiry regarding its minority investment from a global investment fund based in China.

  • Transaction Size: $1M - $5M
  • Timing of Inquiry: 46 months after closing.
  • Outcome: The parties responded to one round of questions and CFIUS did not request a formal filing.

Represented a US-based fabless semiconductor company in connection with a post-closing CFIUS inquiry regarding its merger with a Nasdaq-listed publicly traded Cayman Islands exempted company.

  • Transaction Size: >$30M
  • Timing of Inquiry: 1 month after closing.
  • Outcome: The parties responded to three rounds of questions and CFIUS did not request a formal filing.

Represented a Chinese investment fund in connection with a post-closing CFIUS inquiry regarding its minority investment in a US-based company developing energy-efficient chips for generative artificial intelligence.

  • Transaction Size: $1M - $5M
  • Timing of Inquiry: 30 months after closing.
  • Outcome: The parties responded to two rounds of questions and CFIUS did not request a formal filing.

Represented a venture capital firm headquartered in China in connection with a post-closing CFIUS inquiry regarding its minority investment in a US-based fabless semiconductor company.

  • Transaction Size: $5M - $30M
  • Timing of Inquiry: 28 months after closing.
  • Outcome: The parties responded to two rounds of questions and CFIUS did not request a formal filing.

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Real estate and infrastructure

Represented a global digital logistics firm headquartered in China in connection with a post-closing CFIUS inquiry regarding the firm’s acquisition of a US warehouse and other shipping logistics assets.

  • Transaction Size: >$30M
  • Timing of Inquiry: 15 months after closing.
  • Outcome: The parties responded to two rounds of questions and CFIUS did not request a formal filing.

Represented a US-based logistics and freight-forwarding company in connection with a post-closing CFIUS inquiry regarding its acquisition by an indirect subsidiary of a China-headquartered logistics company.

  • Transaction Size: >$30M
  • Timing of Inquiry: 3 months after closing.
  • Outcome: The parties responded to one round of questions and CFIUS requested a formal filing. CFIUS cleared the subsequent Notice after the parties entered a National Security Agreement.

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Space technology and robotics

Represented a US-based startup company building low Earth orbit satellites in connection with a post-closing CFIUS inquiry regarding a minority investment from a Singaporean investment firm.

  • Transaction Size: <$1M
  • Timing of Inquiry: 21 months after closing.
  • Outcome: The parties responded to three rounds of questions and CFIUS did not request a formal filing.

Represented a US-based company developing autonomous aerial cargo delivery platforms in connection with a post-closing CFIUS inquiry regarding a minority investment from a China-based venture fund.

  • Transaction Size: N/A
  • Timing of Inquiry: 13 months after closing.
  • Outcome: The parties responded to one round of questions and CFIUS did not request a formal filing.

Represented a US-based space tourism company developing stratospheric balloon technology in connection with a post-closing CFIUS inquiry regarding a minority investment from a multinational technology conglomerate headquartered in China.

  • Transaction Size: $1M - $5M
  • Timing of Inquiry: 55 months after closing.
  • Outcome: The parties responded to one round of questions and CFIUS did not request a formal filing.

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Software

Represented a US-based technology company that develops systems and services for artificial intelligence and machine learning in connection with a minority investment from a Luxembourgian venture capital fund.

  • Transaction Size: $1M - $5M
  • Timing of Inquiry: 21 months after closing.
  • Outcome: The parties responded to three rounds of questions and CFIUS did not request a formal filing.

Represented a US financial technology company that offers an all-digital banking platform in connection with a post-closing CFIUS inquiry regarding its minority investment from an international venture capital firm headquartered in Luxembourg.

  • Transaction Size: $1M - $5M
  • Timing of Inquiry: 9 months after closing.
  • Outcome: The parties responded to one round of questions and CFIUS did not request a formal filing.

Represented a US-based artificial intelligence company in connection with a post-closing CFIUS inquiry regarding a perceived investment from a China-based venture fund. The parties confirmed no such investment took place.

  • Transaction Size: N/A
  • Timing of Inquiry: 27 months after alleged closing.
  • Outcome: The parties responded to one round of questions and CFIUS did not request a formal filing.

Represented a US-based company developing artificial intelligence vision software in connection with a post-closing CFIUS inquiry regarding a minority investment from a China-based venture fund focused on hi-tech companies.

  • Transaction Size: <$1M
  • Timing of Inquiry: 44 months after closing.
  • Outcome: The parties responded to one round of questions and CFIUS did not request a formal filing.

Represented a US-based software company specializing in data storage in connection with a post-closing CFIUS inquiry regarding a minority investment from a China-based investment fund.

  • Transaction Size: $1M - $5M
  • Timing of Inquiry: 5 months after closing.
  • Outcome: The parties responded to one round of questions and CFIUS did not request a formal filing.

Represented a US-based company that operates an AI powered online manufacturing marketplace in connection with a post-closing CFIUS inquiry regarding a minority investment from a venture capital fund headquartered in Russia.

  • Transaction Size: <$1M
  • Timing of Inquiry: 17 months after closing.
  • Outcome: The parties responded to two rounds of questions and CFIUS did not request a formal filing.

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Telecommunications and security

Represented a US-based company developing facial authentication technology for physical access control applications in connection with a post-closing CFIUS inquiry regarding a minority investment from an investment fund owned by three US citizens.

  • Transaction Size: $5M - $30M
  • Timing of Inquiry: 10 months after closing.
  • Outcome: The parties responded to two rounds of questions and CFIUS requested a formal filing. CFIUS cleared the subsequent Notice without mitigation.

Represented a digital verification and fraud prevention company founded in the US in connection with a post-closing CFIUS inquiry regarding a minority investment from a Russia-based venture capital firm.

  • Transaction Size: $5M - $30M
  • Timing of Inquiry: 60 months after closing.
  • Outcome: The parties responded to four rounds of questions and CFIUS did not request a formal filing.

Represented a US cybersecurity company that helps customers validate the effectiveness of their cybersecurity controls by performing breach and attach simulations in connection with a post-closing CFIUS inquiry regarding its strategic minority investment from a global investment fund.

  • Transaction Size: $5M - $30M
  • Timing of Inquiry: 4 months after closing.
  • Outcome: The parties responded to three rounds of questions and CFIUS requested a formal filing. CFIUS cleared the subsequent Notice after the parties entered a National Security Agreement.

Represented a US-based company developing facial authentication technology for physical access control applications in connection with a post-closing CFIUS inquiry regarding a minority investment from a Russia-based venture fund.

  • Transaction Size: <$1M
  • Timing of Inquiry: 43 months after closing.
  • Outcome: The parties responded to two rounds of questions and CFIUS did not request a formal filing.

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