Start-up & Venture Capital

Russo De Rosa Associati is highly aware of the needs of young innovative and technological enterprises, having worked both alongside the founders of Italian and foreign start-ups and on behalf of investment vehicles and institutional operators intent on supporting programmes for the growth of new companies or a specific business.

Given the relevant transversal nature of special corporate and tax provisions, the entire sector allows the Firm’s professionals to show off their skills with legal and tax experts joining forces together at every stage required for the initiation of the start-up, guaranteeing maximum competence and experience throughout the lifecycle of the project, from choosing and establishing the corporate vehicle and verifying the requirements for obtaining corporate and tax benefits (including registration in the special section of the Companies Registry) to managing governance profiles and shareholders’ equity rights. In particular, the Firm has gained considerable expertise regarding transactions for opening capital to third parties by means of one or more rounds of investment.

The Firm’s professionals keep regularly updated regarding legal developments (especially in respect of corporate and tax subsidies), as well as the market practice of this sector by very thorough study and mapping of the provisions and clauses most frequently used when structuring investment operations in innovative start-ups, with particular regard to those aimed at protecting the investment value of the founders and subjects who participated in the first rounds of investment (so-called anti-dilutive clauses).

In light of the notable tax benefits provided by sector norms, the Firm has provided its assistance in preparing remunerative and incentive instruments for the benefit of employees, collaborators and directors of the innovative start-ups such as, for example, direct assignment of participatory financial instruments (also in the form of so-called restricted stock), the attribution of rights of subscription or purchase of company holdings (so-called stock option) and/or the direct assignment of company holdings.

The Firm also boasts considerable experience in the venture capital sector, having assisted institutional investors, both Italian and overseas and incubators in early stage investment transactions, starting from the stage of acquiring majority or minority shareholdings to the disinvestments stage, also implemented by means of listing on the AIM Italia (alternative investment market) of Borsa Italiana or by means of joint sale processes.

The Firm’s professionals regularly give lectures at seminars and events dedicated to the world of innovative start-ups and avail themselves of a consolidated network of relationships with the main players in this sector.