DLA Piper is pleased to announce that the firm has joined the Open Cap Table Coalition, a newly formed industry group that aims to improve the interoperability, transparency and portability of startup cap table data.
The coalition, which includes a number of law firms and other organizations operating in the equity management space, has produced a first iteration of the Open Cap Table Format, an open-source format to enable a new, more collaborative era in capitalization data management that aims to prioritize companies’ changing needs and help the ecosystem become more efficient. The coalition’s goal is to drive interoperability and more easily capture some of the complexities of startup capitalization management.
“We are thrilled to be a part of this effort to establish standards and practices that will better serve all stakeholders, from law firms and startups to investors and technology platforms,” said Jeffrey Lehrer, chair of DLA Piper’s US Emerging Growth and Venture Capital practice.
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.