Lowenstein Sandler has gained a seasoned capital markets lawyer amid a boom for emerging companies in the technology sector.
Selim Day, who previously practiced law at Wilson Sonsini Goodrich & Rosati, is now a partner in Lowenstein’s technology division in New York. Day advises companies, private equity funds, growth funds, and banks in equity capital markets deals and M&A. Day is admitted to the New York and California bars and comes to Lowenstein with a broad roster of venture capital-backed tech startup clients.
“In the last five years, the tech market has changed both nationally and locally here in New York. It takes much less money now for an entrepreneur to start a company. Instead of ten years ago and beyond, when you needed $3 to $5 million, a company can start with half a million today,” Day told IFLR1000.
Day went on to reflect on the lure of certain cities for entrepreneurs in an ever-evolving tech space.
“Entrepreneurs can be anywhere as long they’ve got their laptop. Entrepreneurs today want to work in places where they want to live,” Day stated. “What you’re seeing is Silicon Valley entrepreneurs moving to San Francisco, and new entrepreneurs moving to New York. And so I think that’s a trend – the urbanization of tech. I think a lot of young people want to be in New York since it is such a focal point for tech growth. Media tech, real estate tech, financial tech, it’s all code based. You’re not building chips, you’re writing code, creating a code-based product.”
Before he joined Wilson Sonsini, Day was a member of the corporate team at Weil Gotshal & Manges, where one his new colleagues at Lowenstein, M&A practice head Marita Makinen, also used to practice law.