Foley Hoag LLP assisted Lightspring Capital Partners, a women-led investment team focusing on small business investments, in obtaining its Small Business Investment Company (SBIC) license. LSI was created to provide long-term equity and subordinated debt capital to growth-oriented founder/entrepreneur-owned small and lower middle market businesses.
Foley Hoag provided Lightspring with advice on the SBIC licensure process, formation and documentation of the investment fund and its general partner, tax and securities structuring and compliance and negotiating with the lead investors.
Founded in 2017, Lightspring Capital Partners is a private investment firm with offices in Minneapolis and Chicago. The firm invests in United States-based companies operating in the niche manufacturing, value-added distribution, business services, consumer products, and transportation and logistics.
Foley Hoag Partners Robert Sawyer and Jennifer Audeh acted as lead attorneys assisting Lightspring with this matter.