Kelley Drye Completes $21M VC Deal for Broadmargin: Largest Venture Financing in DC Area, Year-to-Date
May 9, 2003
Kelley Drye obtained a $21 million venture financing for Broadmargin (a/k/a Lynch & Company, Inc.), the largest VC financing in the Washington area, year-to-date. The transaction involved the VC’s purchase of 73% of the company as well as acceleration of option vesting; waiver of option exercise price payments; share redemptions from existing owners; distributions of minority investments: in all, an extremely complex transaction.