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MoFo Advises Valon on $100 Million in Series C Funding Round

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Morrison Foerster advised Valon, a vertically integrated mortgage servicing platform, on its $100 million Series C funding round....

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Morrison Foerster advised Valon, a vertically integrated mortgage servicing platform, on its $100 million Series C funding round. The round was led by WestCap with participation from new and existing investors including Andreessen Horowitz, bringing Valon’s total raised capital to $230 million since its founding in 2019.Valon is a modern mortgage servicing platform that is redefining the mortgage experience for consumers, lenders, and investors. The company’s mission is to empower every homeowner. Valon has achieved significant momentum, with 400% year-over-year growth and over $65 billion in mortgages serviced on its platform. The latest round of funding will further accelerate Valon’s product development and market expansion, positioning Valon as the go-to software platform for an industry poised for transformation.The MoFo team was led by Palo Alto corporate partner Jim Ryan with assistance from associates Ophir Gam, Thomas Hopkins, Hanna Balcha and Erin Carrigan, and New York executive compensation partner Josh Lerner.Read the <a href="https://www.businesswire.com/news/home/20241023026030/en/Valon-Raises-100-Million-in-Series-C-Funding-to-Accelerate-Platform-Development-and-Market-Expansion" target="_blank">press release</a>.

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Jim Ryan is a partner in Morrison Foerster's Transactions Department. His practice focuses on domestic and cross-border corporate and securities matters, including venture capital and private equity financings, mergers and acquisitions, securities compliance, and corporate governance.Jim represents entrepreneurs, startups and emerging companies as outside general counsel, venture capital and private equity investors, and financial and strategic acquirers across the technology, media, telecommunications, and life sciences industries. His clients operate in a variety of sectors including machine learning and artificial intelligence, robotics, autonomous vehicles, cybersecurity, data analytics, fintech, e-commerce, gaming, life sciences, and medical devices.Jim earned his J.D. from the Santa Clara University School of Law, where he was a comments editor for the Santa Clara Law Review and was published on the topic of cloud computing regulation. He received his B.A. in Economics with a minor in Information Systems and Technology Management from the University of California, Santa Cruz.

Jim Ryan

Partner

Ophir Gam is a corporate associate in the Palo Alto office of Morrison Foerster.Ophir’s practice focuses on corporate and securities matters, including venture capital and private equity financings, mergers and acquisitions, and corporate governance.Ophir earned his J.D. from Columbia Law School, where he was a Harlan Fiske Stone Scholar. During law school, Ophir was a member of the Intellectual Property Moot Court and a member of both Columbia Entrepreneurship Society and Columbia Business and Law Association. Ophir holds a B.A. from the University of California, Los Angeles.

Ophir Gam

Associate

Thomas Hopkins is an associate in the Palo Alto office of Morrison Foerster and a member of the firm’s Transactions Department. Prior to joining the firm, Thomas worked as a summer associate for Morrison Foerster.Thomas earned his J.D. from Harvard Law School, where he was the President of the Harvard Law Blockchain and FinTech Initiative, and received the Dean’s Scholar Prize for Corporations and the Section 6A Best Brief Honor for Legal Research and Writing. Thomas also holds a Bachelor’s degree in Economics from Brigham Young University, and a Master of Accountancy degree from the University of Utah.

Thomas Hopkins

Hanna is a corporate associate in Morrison Foerster’s Palo Alto office.Prior to joining the firm, Hanna was a Summer Associate in the Palo Alto office during the summers of 2021 and 2022, and an SEO Law Fellow in the Palo Alto office during the summer of 2020. She also spent time as a U.S. Squash Ambassador with the International Olympic Committee.Hanna earned her J.D. at New York University School of Law, where she was a Senior Editor of the Journal of Intellectual Property & Entertainment Law. She also holds a B.A. from Dartmouth College.She is also a native speaker of Amharic.

Hanna Balcha

Erin is a corporate associate in Morrison Foerster’s Palo Alto office.Prior to joining the firm, Erin was a Summer Associate in the Palo Alto office. She also spent time as an Intern to the Deputy Public Defender at the Superior Court of California, San Joaquin County.Erin earned her J.D. at the University of California, Davis School of Law, where she was an Articles Editor of the U.C. Davis Law Review, and an Editor of the Business Law Journal. Concurrently with her J.D., she also earned a Certificate in Business Law. Erin holds a B.S. from University of the Pacific.

Erin Carrigan

Josh is a partner in the New York office of Morrison Foerster and co-chair of the firm’s Executive Compensation practice. Josh advises clients on all matters involving the compensation of senior executives, including employment, change in control, equity compensation, and severance arrangements.He counsels public and private companies on executive compensation issues in a range of corporate transactions, restructurings, and financings. He has experience designing, drafting, and negotiating employment agreements and administering equity incentive plans and awards. He also works regularly with public companies on compensation-related disclosures and corporate governance matters, including Securities Exchange Act of 1934 reports. Josh earned his J.D. from Columbia Law School where he was a senior articles editor of the Columbia Business Law Review.<h4>Representative Matters</h4><ul><li>Snow Software, a technology intelligence platform, on its acquisition by Flexera Software, a data-oriented SaaS solution company.</li><li>U.S. Silica Holdings, a global industrial minerals and logistics leader, in its $1.85 billion sale to entities affiliated with Apollo Global Management.</li><li>Rivian Automotive in the formation of an equally controlled and owned joint venture with Volkswagen Group to create next generation software-defined vehicle (SDV) platforms to be used in both companies’ future electric vehicles.</li><li>Palladium Equity Partners, in the $695 million sale of its majority interest in Trachte, a leading provider of highly engineered protection and control buildings with mission critical applications, to nVent Electric plc, a leading global provider of electrical connection and protection solutions.</li><li>The rock band KISS and its co-founders Gene Simmons and Paul Stanley in the sale of substantially all rights related to KISS to Pophouse Entertainment.</li><li>McGrath RentCorp, leading provider of temporary and permanent space solutions, in its $3.8 billion acquisition by WillScot Mobile Mini Holdings Corp., a leader in innovative temporary space solutions.</li><li>Astellas Pharma in its acquisition of Propella Therapeutics, a biopharmaceutical company that combines medicinal chemistry with lymphatic targeting to create new oncology drugs.</li><li>SoftBank in connection with its $375 million acquisition of Berkshire Grey, a robotic automation company that went public via a SPAC merger in 2021.</li></ul><ul><li>Grant Thornton, one of America’s largest audit, tax, and advisory firms, in the sale of its Public Sector Advisory practice to Guidehouse, a portfolio company of Veritas Capital and leading global provider of consulting services to the public sector and commercial markets.</li><li>MTY Food Group, a leading franchisor in the North American restaurant industry, in its $200 million acquisition of BBQ Holdings, a franchisor and operator of fast casual dining.</li><li>Odevo AB, a Swedish company and a portfolio company of private equity client Fidelio Capital, in connection with its acquisition of KW Property Management & Consulting, LLC, a Florida-based company that provides property management services to homeowner associations, condominium boards, cooperative boards and townhome communities. </li><li>Tinicum and its portfolio company TSL Engineered Products in the sale of Advantek, a leading provider of highly engineered carrier tape and associated protective packaging products, to Cornell Capital.</li></ul>

Joshua Lerner

Co-Chair of Executive Compensation Practice

Private Funds