Venture Capital & Growth Equity

Cravath represented the underwriters in connection with the $212.8 million initial public offering of class A common stock of BitGo Holdings, Inc. (“BitGo”), a leading infrastructure provider of digital asset solutions for businesses, offering solutions including custody, wallets, staking, trading, settlement and digital asset management. The shares were listed on the New York Stock Exchange. The transaction closed on January 23, 2026.

Cravath represented funds managed by affiliates of Brevan Howard in connection with an investment in Ripple Labs, Inc., consisting of a private placement of Class A Common Stock, as part of Ripple’s $500 million strategic investment at a $40 billion valuation, led by funds managed by affiliates of Fortress Investment Group, affiliates of Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard and Marshall Wace. The transaction closed on November 4, 2025.

Cravath represented Alliance Laundry Holdings Inc. in connection with its $950.29 million initial public offering of common stock. Alliance Laundry Holdings, an affiliate of BDT & MSD Partners, LLC, is the world’s largest designer and manufacturer of commercial laundry systems, serving a diverse range of global markets. The transaction closed on October 10, 2025.

Cravath represented Circle Internet Financial, LLC on SEC regulatory matters concerning the non‑applicability of securities laws to payment stablecoins, concurrent with Circle Internet Group Inc.’s initial public offering.

Cravath represented the underwriters in connection with the $683.6 million registered underwritten offering of Class A common stock of Galaxy Digital Inc., a global leader in digital assets and artificial intelligence infrastructure, delivering enduring solutions that accelerate the future digital economy. This was Galaxy Digital Inc.’s first underwritten public offering of its Class A common stock as a listed company on the Nasdaq Global Select Market. The transaction closed on June 3, 2025.

On March 4, 2026, Bloomberg featured Cravath partner Faiza J. Saeed as a top dealmaker of 2025, with her advice on M&A deals totaling roughly $90 billion over that period making her their single highest ranked woman lawyer. The article highlighted her representation of the Paramount Special Committee in Paramount’s $28 billion merger with Skydance, of Wiz in its $32 billion acquisition by Google, of Disney in its successful proxy fight against Trian, and in 2026, of Paramount in its $110 billion acquisition of Warner Bros. Discovery.

On March 4, 2026, Cravath published the latest edition of its Artificial Intelligence Developments Newsletter, which includes a high‑level review of activity across technical, regulatory, legal, and market areas of AI over the last month.  

From February 26-27, Cravath partners John W. White, D. Scott Bennett and Justin C. Clarke participated in the Florida Bar’s 42nd Annual Federal Securities Institute and M&A Conference in Tampa, Florida. John moderated a panel entitled “Evolving Accounting and Auditing Focal Points in 2026,” which discussed best practices for interacting with the SEC staff, what lies ahead at the SEC, what’s new from FASB and the PCAOB’s new priorities and leadership. Scott moderated a panel entitled “Recent Developments in Digital Assets and Tokenization,” which explored the impact of tokenization, ETFs and digital asset treasury companies, new crypto legislation and what lies ahead. Justin moderated a panel entitled “Private Securities Litigation – 2025 Developments and Trends,” which analyzed trends in securities class action filings, case law updates and new and developing issues.

On February 13, 2026, Cravath published the latest edition of its Venture Capital & Growth Equity Insights newsletter, which provides insight into global venture capital and related activity during 2025 and an outlook for the coming year. Key takeaways from this edition include:

On February 12, 2026, Cravath partners D. Scott Bennett, Elad Roisman, Nicholas A. Dorsey and Sasha Rosenthal‑Larrea were profiled in Lawdragon’s “Lawyer Limelight” series in connection with the Firm’s work for “companies at the forefront of innovation in digital assets, AI, fintech, biotech, media and emerging technologies.”