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O’Melveny’s Xuan Zhang Quoted in Asian Venture Capital Journal on JOBS ActNovember 07, 2013 O’Melveny & Myers counsel Xuan Zhang was quoted in an Asian Venture Capital Journal article, titled “Public Access.” The November 5, 2013, piece discusses the US Jumpstart Our Business Startups (JOBS) Act, which has removed restrictions on general solicitation in the US, potentially allowing private equity firms to “tap accredited investors that previously fell beneath their radar.” Managers have been reluctant to capitalize on the opportunity however, the report explains. “It doesn’t really impact our clients in terms of offerings in the US because they can still use the traditional private offering exemption,” Zhang said in the article. “For Asian fund managers that only plan on doing limited marketing in the US, general solicitation doesn’t make sense.”
Zhang is a member of O’Melveny’s Investment Funds Practice and resides in the Firm’s Beijing office.