Private Markets

Pros and Cons of the Delaware Flip

By Wilson Sonsini

US venture capitalists historically insisted that they would only invest in an early-stage UK or other non-US company if the company “flipped” its corporate structure and installed a US (typically Delaware) holding company above the startup’s existing top company. For a variety of reasons this historical view is changing. Many US investors – particularly at Series B and beyond – increasingly are open to the idea of investing in UK (and often Irish) holding companies without the “Delaware flip.”

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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