David M. Lay
Partner, Attorney at Williams Mullen
About
David M. Lay represents companies and individuals in venture capital financings at Williams Mullen in Richmond. He also handles seed and angel financings, mergers and acquisitions, and corporate and securities matters. He forms emerging growth and technology companies and continues as their counsel. Clients include information technology, SaaS, and biosciences companies. He also represents transportation, B2B, and B2C companies. He advises companies in high-tech research, development, and manufacturing. He earned his J.D., cum laude, from Washington and Lee University School of Law in 1996. He earned a B.S. from the University of Virginia in 1993. Best Lawyers® named him Richmond "Lawyer of the Year" for Venture Capital Law in 2026. He served on the VBA committee that drafted the Virginia Report on Third Party Legal Opinions in Business Transactions.
Who is a good fit for David M. Lay
- Emerging growth companies raising seed or angel capital.
- Companies working through a merger, an acquisition, or a securities matter.
- Transportation companies arranging a venture capital financing.
Education and admissions
- Education
- Washington and Lee University School of Law, J.D., 1996
- University of Virginia, B.S., 1993
- Bar admissions
- Virginia
Recognition
- Best Lawyers® - Richmond "Lawyer of the Year" for Venture Capital Law (2026) Leveraged Buyouts and Private Equity Law (2027)
Specialties
Representative matters
As described on the firm’s website.
- Representation of a growth equity firm in numerous investment rounds totaling more than $25,000,000.
- Representation of a consumer engagement services provider in the healthcare space in several financing rounds totaling over $10,000,000.
- Representation of a large indoor growing facility in a $10,800,000 preferred stock round. ($10,800,000)
Deal profile
- Typical deal size
- Any deal size
- Remote work
- In-person / regional