DLA Piper advises Wilshire Lane Capital on sale of minority interest to Nile Capital Group

DLA Piper represented Wilshire Lane Capital in its recent strategic sale of a minority interest to Nile Capital Group Holdings, a private equity firm which invests in GP stakes of talented boutique, diverse, and emerging asset management firms across the asset class spectrum.

Wilshire Lane Capital, a promising early-stage venture capital firm led by Adam Demuyakor, was founded to invest in the real estate technology (also known as PropTech) category, which is rapidly expanding as more landlords continue to repurpose underutilized assets using software and technology into residential, food delivery, self-storage and e-commerce spaces of the future.

Former Julius Baer Investment Management executive Mel Lindsey established Nile Capital in 2014.

Nile Capital will buy less than 25 percent of Wilshire Lane Capital for an unspecified price. The majority of ownership will stay with Demuyakor. Demuyakor’s goal is to grow Wilshire Lane Capital so the firm is able to capitalize on real estate markets in transition via technology.

“It’s been a pleasure to work with Yoni Tuchman and his team at DLA Piper. Their clear understanding of GP structures and important deal nuances paid off for us and helped us arrive at a great deal that works for all parties. We’re looking forward to continuing to work with them as we look to continue building the next great PropTech investment firm,” said Adam Demuyakor.

“It was a pleasure to bring our extensive fund formation experience to advise Wilshire Lane Capital in this transformative transaction that will position it to serve as a leader in the PropTech investment fund space for years to come,” said Yoni Tuchman, the DLA Piper partner who led the firm’s deal team.

The DLA Piper team advising Wilshire Lane Capital included partners Tuchman (Los Angeles) and SeoJung Park (Silicon Valley), and associate David Pennant (Philadelphia).

DLA Piper’s global investment funds team provides a dynamic, integrated service to sponsors, fund managers and institutional investors, supported by the firm’s international tax and regulatory networks. The team advises clients on the full spectrum of private investment funds, all major investment strategies and all stages of a private investment fund's life cycle.

DLA Piper’s Emerging Growth and Venture Capital practice includes more than 200 lawyers in the US who provide strategic counsel to emerging companies in high-growth industries, including biotech, manufacturing, communications, software and semiconductors. Over the last three years, DLA Piper has completed more than 2,100 financings totaling over US$31 billion.

DLA Piper's global Technology sector lawyers work across practice areas and offices to support technology clients – from startups to fast-growing and mid-market businesses to mature global enterprises – doing business around the world.