SPONSORSHIP SPOTLIGHT
Thompson Hine Serves as Presenting Sponsor of Ohio VC Fest
Thompson Hine is proud to serve as a presenting sponsor of Ohio VC Fest, taking place September 29–30 at the Huntington Convention Center in downtown Cleveland. Now in its fourth year under the theme "Connecting Vision to Venture," the event brings together founders, investors and corporate leaders from across Ohio and beyond for two days of programming, pitches and one-on-one venture meetings. Several members of our team will be on hand throughout the event, so be sure to stop by our exhibit table to say hello and chat with the team. Our continued involvement reflects Thompson Hine's ongoing commitment to supporting entrepreneurs and investors across the region's growing innovation ecosystem. For more on the event and full speaker lineup, visit OhioVCFest.com.
Sean Ganley, Lindsay Karas Stencel and Jonathon Vinocur Recognized in Best Lawyers in America® 2027
Congratulations to the 161 Thompson Hine lawyers recognized in the 2027 edition of The Best Lawyers in America®, including Sean Ganley (Cleveland), Lindsay Karas Stencel (Columbus) and Jonathon Vinocur (Cleveland). Lawyers are selected based on votes received in a survey of their peers within their specific practice areas. Congratulations to New Ventures attorneys Sean, Lindsay and Jonathon on this well-deserved recognition!
Jake Denham and Daniel Criswell Named to Best Lawyers: Ones to Watch 2027
Thompson Hine is pleased to announce that 41 of its lawyers are recognized in the 2027 edition of Best Lawyers: Ones to Watch® in America, including Jake Denham (Cincinnati) and Daniel Criswell (Cleveland). The recognition uses the same Purely Peer Review® methodology as traditional Best Lawyers honors, recognizing lawyers in private practice for 5 to 10 years for their professional excellence, based on peer survey votes within their specific practice areas. Congratulations to New Ventures attorneys Jake and Daniel on this well-deserved recognition!
THOMPSON HINE’S ECOSYSTEM PRESENCE
Thompson Hine Presents at Show-Me Founders Series in Missouri
Lindsay Karas Stencel recently traveled to Missouri for two founder-focused talks as part of Show-Me Founders, a new statewide series from the Show-Me Network, delivered by Codefi to help Missouri entrepreneurs become investment-ready for the Missouri Technology Corporation's IDEA Fund. She covered entity formation, SAFEs and convertible notes, helping founders avoid common early-stage pitfalls. She also presented her "Tackling Term Sheets" talk, digging into key term sheet provisions, how founders can protect their company's vision, and misunderstandings that often trip up first-time fundraisers. The series is part of a broader effort — a year-long lineup of no-cost workshops and webinars timed around MTC's quarterly IDEA Fund application deadlines. It reflects Thompson Hine's continued support of founders navigating their capital raises.
Scaling Smart: Legal Strategies for Growth-Stage Startups
Thompson Hine and the Georgia Cleantech Innovation Hub hosted a focused conversation on Thursday, September 24, covering three pivotal growth-stage milestones: raising later-stage capital, structuring strategic partnerships, and negotiating go-to-market contracts. The discussion explored advanced financings and evolving investor terms, how founders could build strategic partnerships without ceding too much control, and the key contract terms companies need to negotiate with customers, channel partners and vendors as they scale. Attendees preparing for a Series A or B raise, exploring a strategic partnership, or building out their commercial contract portfolio walked away with practical, real-world guidance from attorneys who work with growth-stage companies every day.
THOMPSON HINE’S UPCOMING EVENTS
Raising Capital with Confidence: A Founder's Guide to Term Sheets
Thompson Hine is partnering with WEI Atlanta to present a complimentary seminar for founders navigating their next capital raise. Join us Tuesday, October 13 (2:30–4:30 p.m. ET) for a focused session designed to demystify term sheets and help founders evaluate deal terms, spot common pitfalls, and negotiate with greater confidence. Attendees will learn the key components of a term sheet — including valuation, liquidation preferences, board seats and vesting — along with terms that often catch first-time founders off guard, how to prioritize negotiation points, and practical tips for evaluating an offer beyond the headline valuation. RSVP by October 7 to secure your spot.
9th Annual State of Venture in Ohio® — Tiger Talk
Join us Friday, October 16th (11:30 AM–1:30 PM) at Innovate New Albany for the 9th Annual State of Venture in Ohio® Tiger Talk. This year's session covers which funds are investing in Ohio, how the state stacks up regionally and nationally, key ecosystem updates, and an honest ranking of Ohio's VC landscape — plus plenty of Q&A. Great for founders raising capital, investors scouting deals or co-investors, and anyone curious about Ohio's innovation scene. Last year's talk was standing room only, so register early and arrive with time to network. Additional event information can be found here.
MARKET INSIGHTS
Carta's State of Pre-Seed: Q2 2026
Carta's latest data shows continued concentration in the pre-seed market: U.S. startups raised $3.19 billion across more than 11,500 pre-seed instruments in Q2 2026 — a dollar figure similar to last year's Q2 ($3.22 billion), but spread across notably fewer deals (down from roughly 14,825 instruments).
Three key findings stood out:
- Average deal size hit a record high. As more capital flows into fewer companies, the average pre-seed SAFE/note size climbed to $276,000 in Q2 — a 27% increase year-over-year and the highest mark in over four years.
- AI's share of pre-seed dollars held steady, but may be plateauing. AI startups captured 49% of all pre-seed dollars in H1 2026, essentially matching 2025's full-year figure of 50%. While AI's share of the market has grown significantly since 2021, the past six months didn't show further acceleration.
- Texas edged out New York for the #2 spot. Texas-based startups took in 9% of U.S. pre-seed investment in Q2, trailing only California. New York fell to third among states, while at the metro level, Austin ranked third behind the Bay Area and New York City.
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 Plus™ tool. To learn more about our tailored, value-enhancing solutions, please visit our site.