Web3 Fundraising & Venture Deals

Fenwick provides comprehensive legal counsel for Web3 startups and crypto companies at every stage of capital formation, from first funding round through IPO and beyond. With a track record of representing companies that have gone on to become some of the world's most valuable technology enterprises, Fenwick brings pattern recognition from thousands of venture deals and unparalleled expertise in both traditional venture financing and token-based capital raising structures.

Token-Based Financing Structures

Fenwick advises on innovative token-based financing structures tailored to the unique needs of Web3 projects, including token generation events (TGEs), security token offerings, and hybrid structures that blend traditional venture equity with token exposure. The firm drafts and negotiates SAFT (Simple Agreement for Future Tokens) agreements, token warrant agreements, SAFE notes with token side letters, token purchase agreements, and complex hybrid equity-token financing structures that balance investor protection with project flexibility.

Traditional Venture Financing

The firm provides comprehensive venture financing services including term sheet negotiation, preferred stock financings, convertible instruments (SAFEs and convertible notes), investor rights agreements, protective provisions, liquidation preferences, anti-dilution protection, board composition, voting rights arrangements, and exit strategies. Fenwick represents both companies and investors in venture transactions, providing balanced perspective on deal terms and market standards informed by thousands of transactions across the technology ecosystem.

IPO & Capital Markets Advisory

Fenwick leads the market in taking technology and crypto companies public, advising on more than 40% of the highest value technology IPOs in 2025. Notable recent crypto and Web3 transactions include BitGo's $212M IPO, CoreWeave's $1.5B IPO (the second-largest tech IPO since 2022), and Wealthfront's $484M IPO. The firm provides end-to-end capital markets services including IPO readiness assessments, SEC registration statements and prospectuses, underwriting agreements, securities law compliance, stock exchange listing requirements, equity compensation plan design for public companies, digital asset treasury model structuring for public companies, and follow-on offerings.

Web3-Specific Expertise

The firm has particular expertise navigating the complex disclosure requirements for digital asset businesses going public, structuring compliant token offerings that satisfy securities regulations, advising on governance token issuance and distribution, and counseling on the intersection of traditional venture capital and token-based financing. Fenwick's fundraising practice is deeply integrated with its blockchain regulatory expertise, enabling seamless counsel for crypto-native startups navigating both capital raising and evolving regulatory frameworks.

Why Choose Fenwick

Fenwick's fundraising practice combines decades of Silicon Valley venture financing experience with cutting-edge expertise in token economics and crypto regulatory compliance. The firm's integrated approach draws on deep technical knowledge (over 80 technical degrees among attorneys), first-hand tech industry experience, and active involvement in shaping Web3 legal frameworks through membership in the Global Legal Blockchain Consortium.