How V&E Helped a Nonprofit's Tech Dream Become a Reality
When an enterprising nonprofit group prepared to enter uncharted waters, it turned to V&E.
Thread is a Baltimore-based organization dedicated to forging connections between students and community-based volunteers. The group’s leaders decided they wanted to scale their work, so Sarah Hemminger, Thread’s founder, first reached out to Baltimore-based entrepreneur Vince Talbert for help. But Talbert’s suggestion surprised her: He floated the idea that Thread invest in a startup that would develop an app to be used by Thread as well as other nonprofit groups.
“All of a sudden, I found myself in this position of negotiating a deal around the formation of a for-profit company,” Hemminger said.
Fortunately, Hemminger didn’t have to negotiate alone: Thread became a pro bono client of V&E’s. The Vinson & Elkins team helped guide Hemminger and her team every step of the way.
“There was a huge learning curve involved for our team,” Hemminger said, “and the V&E team was so patient and kind and generous in walking us through that.”
This information is provided by Vinson & Elkins LLP for educational and informational purposes only and is not intended, nor should it be construed, as legal advice.