Firm Raises Nearly $460 Million for Structured Equity Investments in First Time Fundraise
BOSTON, October 31, 2024 – Proskauer, a leading international law firm, announced today that it advised L2 Point Management, LLC (“L2 Point”) on the successful close of its inaugural structured equity fund, L2 Point Opportunities I, L.P. (the “Fund”), which closed at approximately $312 million, surpassing its $300 million target. The Fund’s capital, with capital raised by L2 Point for related co-investment vehicles, totals nearly $460 million.
L2 Point is a San Francisco-based investment firm that provides innovative capital solutions to growth-stage companies. The company is a woman- and Latina-owned and led business that uses its expertise across the capital structure to tailor financing solutions for its clients.
The Fund will be used to support L2 Point’s structured equity strategy as it seeks to optimize the cost of capital for companies across the technology and technology-enabled, consumer, healthcare and media sectors. The firm’s out-of-the-box structuring approach aims to provide investors exposure to growth companies with mitigated downside risk through structural protections and contractual returns and meaningful upside potential through equity participation.
The Proskauer team advising L2 Point was led by Private Funds partners N. Carter Noon and Michael Suppappola, and Tax partner Janicelynn Asamoto Park. It also included associate Philip Lenertz (Tax); and associates Tracy Rizk, Stephanie McIntyre and Daniella Kolmykova (Private Funds).
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