New Ventures Spotlight: Daniel Filstrup
Daniel serves as counsel in the firm’s Corporate Transactions & Securities group and is an integral member of our Investment Management practice, where he partners with fund sponsors to navigate the complex legal and regulatory landscape of the investment ecosystem. Drawing on deep experience with private and registered fund sponsors, registered investment advisers, registered investment companies, business development companies and other alternative asset managers, Daniel guides clients from startup through the entire asset management lifecycle. His work includes entity formation, capital structuring, SEC registration and examination, and succession planning, while helping ensure his clients’ seamless compliance with the Investment Advisers Act of 1940, the Investment Company Act of 1940 and Regulation D of the Securities Act of 1933.
His practice spans the full spectrum of investment strategies, including those most relevant to the startup ecosystem – public and private equity, venture capital, private credit, infrastructure and mezzanine finance – along with cutting-edge work in digital assets, blockchain, AI and other emerging technologies. Founders turn to Daniel for pragmatic guidance on integrating artificial intelligence solutions within private and registered funds strategies, responding to SEC examinations, designing robust compliance programs for both registered and exempt reporting advisers, and tackling the regulatory nuances of asset-manager acquisitions and adviser-led secondary transactions.
Whether guiding a first-time fund manager through its first fundraise, counseling experienced managers adopting novel technologies and strategies, or advising investors in private fund investments, Daniel combines market-savvy insight with a practical, business-first approach that helps innovative businesses move quickly while staying squarely within today’s evolving regulatory guardrails.
Congratulations to Thompson Hine Best Lawyers in America 2026 Honorees
Sean Ganley – Corporate Governance Law; Mergers and Acquisitions Law
Lindsay Karas Stencel – Business Organizations (including LLCs and Partnerships); Corporate Law
Jonathon H. Vinocur – Venture Capital Law
Partnership with Access Georgia Foundation - Mock Rounds & Investor Showcase
Earlier this month, Lindsay Karas Stencel had the opportunity to present to founders and mentors at Access Georgia Foundation’s Mock Rounds in Atlanta. The discussion focused on key considerations for early-stage companies, including the importance of engaging expert startup counsel early to avoid costly missteps, establishing the right corporate structure when preparing for funding, knowing when to leverage AI in legal agreements versus when to seek professional guidance, and defining a “walk away number” while understanding how funding rounds can affect long-term goals. Access Georgia remains an outstanding resource for founders in the ATL startup ecosystem, providing one-on-one mentorship from seasoned industry leaders, expert-led workshops, and strategic connections and pitching opportunities. We are grateful to Access Georgia for the opportunity to contribute and look forward to supporting the next generation of Atlanta entrepreneurs. We were also excited to sponsor the Access Georgia Foundation’s Investor Showcase, representing the finals of the ACCESS 2025 program.
Cincinnati Startup Ecosystem Networking Event
The Thompson Hine New Ventures team is thrilled to partner with Book+Street for a networking happy hour in Cincinnati on October 2. This casual networking event will bring together startups, founders, and innovators from across the region for an evening of conversation and connection. Book+Street is a Midwest-based management consulting firm specializing in providing comprehensive financial and administrative services for private, venture-backed, and pre-IPO companies. This will be a great opportunity to connect with fellow entrepreneurs, share ideas, and strengthen ties within Cincinnati’s growing startup scene—while learning more about the expertise and support Book+Street brings to the table. It’s the perfect occasion to raise a glass, spark collaboration, and gain helpful insights into your startup’s financial and administrative strategy.
Celebrating a Decade of Impact: Endeavor Detroit's 10-Year Anniversary
We are proud to sponsor Endeavor’s 10-Year Anniversary Celebration on September 17, hosted in partnership with Crain’s Detroit during Detroit Homecoming Week. This milestone event will gather founders, funders, and ecosystem builders to reflect on a decade of impact and share bold visions for the future of entrepreneurship in Michigan and beyond. The day will feature dynamic keynotes and panels with leading voices from Detroit’s innovation economy—including pioneers in health tech, consumer brands, and generative AI—followed by a rooftop networking reception and an exclusive welcome dinner for Endeavor’s National Selection Panel guests. We’re honored to support Endeavor’s mission to scale high-impact entrepreneurs and drive inclusive economic growth throughout the region.
Industry Insights: Startup Valuations - Location Matters
When it comes to fundraising, life isn’t always fair—and neither are startup valuations. Companies outside Silicon Valley often raise at lower valuations, but that’s not necessarily a bad thing. In fact, today’s sky-high valuations in San Francisco could set many companies up for future down rounds. There’s no true “national market” for startups. VC activity is often shaped by geography, meaning founders are subject to local fundraising conditions. Our latest analysis of Seed, Series A, and Series B valuations for software startups highlights the regional differences:
- West: $70M median post-money valuation; $13.1M median cash raised
- Northeast: $62.3M valuation; $12M raised
- South: $50M valuation; $8.4M raised
- Midwest: $52.3M valuation; $9.3M raised
What’s driving the gap? Two factors stand out:
- AI frenzy. Competition for AI-native companies is centered in Silicon Valley.
- Shifting appetite. Investor enthusiasm for traditional software is cooling while demand for “in-vogue” AI businesses grows.
QuickLaunch: Experienced Guidance for Startups and Investors
Our QuickLaunch program is tailored to entrepreneurs, startups and investors, providing guidance on growth and funding cycles and offering cost-effective counsel on day-to-day legal matters from formation to funding to exits. Our seasoned team helps navigate the confusing waters of growth, funding, expansion and those tricky legal issues that can arise, often at fixed or budgeted pricing by using our firmwide proprietary SmartPaTH™ tool. To learn more about our tailored, value-enhancing solutions, please visit our site.