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MoFo Advises Stability AI on $76 Million Series B Funding Round

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Morrison Foerster advised Stability AI, the leader in purpose-built AI products for professional creatives across music, gaming,...

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Morrison Foerster advised Stability AI, the leader in purpose-built AI products for professional creatives across music, gaming, and entertainment, on its $76 million Series B financing.  The round featured a new group of investors across entertainment and technology, including interactive entertainment innovator Electronic Arts, global leaders in music entertainment Sony Music Group, Universal Music Group and Warner Music Group, and investment firms AMD Ventures and Pacific Alliance Ventures. The MoFo team advising Stability AI was led by emerging companies + venture capital partners Murray Indick and Brad Kondracki and associates Kimberly Valladares and Maithu Koppolu.Read the <a href="https://stability.ai/news-updates/stability-ai-latest-funding-backed-by-entertainment-industry-biggest-names" target="_blank">Stability AI press release</a>.

MoFo Advises Stability AI on $76 Million Series B Funding Round

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Murray Indick is a corporate partner in the Emerging Companies + Venture Capital Group.Murray represents fast-growing innovative businesses, catering to a diverse range of clients that span from visionary entrepreneurs to well‑established companies in later stages of development. With almost forty years of experience in corporate law, investment funds, and related fields, Murray has garnered extensive expertise through private practice as well as his roles as partner and general counsel to Blum Capital Partners (1997 – 2004) and partner and general counsel to Prides Capital Partners (2004 – 2010). Throughout his tenure with these firms, which collectively raised and deployed approximately $6 billion, Murray successfully made strategic investments across the globe.In recognition of his exceptional client service, Murray was honored as one of only twelve attorneys from the Bay Area named to BTI Consulting Group’s prestigious list of “Client Service All-Stars” in 2015. Notably, he has also been consistently recognized by Chambers USA and Legal 500 as a leading national lawyer in the field of Startups and Emerging Companies. Legal 500 US has also acknowledged Murray’s exceptional capabilities in M&A/Corporate work since 2017.Murray’s transactional experience encompasses a broad spectrum of corporate matters, including venture financings, acquisitions, mergers, fund formation, PIPE investments, corporate restructurings, corporate governance, and compliance programs. His clients, regardless of their size, rely on his ability to provide practical, innovative, and insightful advice to navigate legal challenges and pivotal transactions successfully.A substantial portion of Murray’s practice is dedicated to the formation of investment funds, with a particular focus on venture capital funds. He consistently provides transactional and advisory services to these funds, often serving as their trusted outside general counsel.Murray routinely collaborates closely with senior management teams and board of directors of various businesses. He brings valuable expertise to the table, having previously served on corporate boards of esteemed public companies. He also actively contributes his insights as a board member to start-up companies and private businesses, leveraging his extensive experience in this capacity.In 2014, Murray took on the role of outside counsel for the Los Angeles Clippers, supporting the team during the transitional period after the NBA suspended their owner, Donald Sterling. His expertise played a crucial role in facilitating the smooth transition to new ownership. Murray attained his Juris Doctor (J.D.) degree with honors, magna cum laude, in 1984 from Georgetown University Law Center and his undergraduate degree in 1981 from the University of Pennsylvania, where he studied history and English and graduated magna cum laude. Following law school, Murray clerked for Judge Walter E. Black, Jr., in the U.S. District Court in Baltimore, Maryland.

Murray Indick

Partner

Brad Kondracki is a partner in MoFo’s Emerging Companies & Venture Capital (ECVC) group. He represents high-growth technology companies through the full lifecycle, from incorporation through exit, as well as the venture capital firms and institutional investors that fund them.Brad has represented hundreds of startups and private companies raising venture capital financings at all stages, including seed through late-stage preferred stock financings. He also advises clients on convertible note and SAFE offerings, as well as venture debt transactions. He regularly advises founders and management teams on entity formation and structuring, corporate governance, strategic issues,  investor and acquirer negotiations, secondary transactions and tender offers, and day-to-day operational legal matters. Brad frequently serves as outside general counsel to private companies. He also counsels venture capital funds, corporate venture arms, and other institutional investors on investment activities and portfolio company matters.Brad represents venture-backed companies on strategic transactions, including mergers and acquisitions, asset purchases, spin-offs, joint ventures, and strategic partnerships. He guides clients through complex exit transactions, helping them maximize value while navigating legal and commercial risks. Brad provides practical, business-oriented counsel shaped by his experience in the venture ecosystem. He understands the evolving needs of high-growth companies and the market dynamics that drive transactions in the technology industry.

Bradley Kondracki

Kimberly is a corporate associate in Morrison Foerster’s San Francisco office.Kimberly holds a J.D. from University of California Berkeley, School of Law, where she held leadership positions for the Berkeley Business Law Journal, Berkeley Law’s Startup Law Initiative, Death Penalty Clinic, La Alianza Law Student Association, and Pilipinx American Law Society. Kimberly has a longstanding commitment to pro bono work and Diversity, Equity, and Inclusion.Prior to joining the firm, Kimberly was a Keith Wetmore 1L Diversity Fellow and completed a secondment at a leading technology company. Prior to law school, Kimberly was an SEO Law Fellow in the San Francisco office.Kimberly received her B.A. summa cum laude from the University of California, Riverside.

Kimberly Valladares

Associate

Maithu Koppolu is an associate in Morrison Foerster’s San Francisco office and a member of the firm’s Transactions Group.Maithu focuses her practice on general transactions.She earned her J.D. from the University of California, Berkeley, School of Law, an M.F.A. in writing from Columbia University, and dual B.A.s, magna cum laude, in creative writing and public relations & advertising from Chapman University.

Maithu Koppolu

Emerging Companies + Venture Capital