Gary A. Jungels


[email protected]

Phone: (312) 360-6834

Fax: (312) 360-6520



Gary Jungels is a Partner in the Corporate Practice Group and a member of the Emerging Industries Team.

As a transactional attorney, Gary has extensive experience in private equity and venture capital, and specifically fund formations and joint ventures. He has represented fund sponsors and management teams in structuring, negotiating and closing both general and industry-specific global and domestic funds, including buyout, mezzanine/sub-debt, venture capital and later stage private equity funds. In addition, Gary has significant experience structuring their management companies and advising private equity and venture capital professionals on their internal governance and economic arrangements.

Gary has represented small, mid-market and larger private equity funds and their sponsors, with transaction sizes ranging from several million to more than a billion dollars. In addition, he has represented secondary funds, bank-affiliated funds, SBIC-licensed funds and funds utilizing CDO/CLO structures.

Gary also advises fund and non-fund sponsors, lead investors and co-investor with respect to their fund and/or portfolio investments, including seed stage and growth stage venture financing involving equity, debt, convertible notes and SAFE instruments.

Prior to joining Freeborn, Gary was a Partner at a global law firm in Chicago.

Representative Matters

Representative Matters

  • Represented a private equity investment professional in his dealings with his prior private equity firm regarding his "carried interest" and economic arrangements.

  • Represented a founder/CEO of an online pharmacy company in his governance and economic arrangements with venture capital investors.

  • Represented a founder/CEO of a technology company in his fund-raising efforts and arrangements with venture capital investors.

  • Represented a microbrewery in its capital raise and formation, as well as operational matters.

  • Represented a Fortune 500 telecommunications company in several of its strategic fund investments, to support the development and implementation of its own technology.

  • Represented private equity and venture capital investment professionals in their admission to, and separation from, private equity and venture capital firms.

  • Represented a cannabis fund sponsor in the formation of its venture capital fund and management company, as well as its portfolio investments.

  • Represented several "fundless" venture capital firms in the formation of multiple investment vehicles to make early stage investments in technology companies.

  • Represented several angel investor groups and incubators/accelerators in their investments and their transition to "fund"-based investment strategies, ranging in size from $500,000 to over $25 million.

  • Represented a solar energy sponsor in a joint venture involving both equity and debt investments in excess of $200 million from several institutional investors.

  • Represented a venture capital fund and co-investors in a Series A investment into an early stage medical device company. 

  • Represented a venture capital firm in the formation of multiple primary and co-investment funds with approximately $1.5 billion in capital commitments to make preferred equity investments in biotechnology companies. 

  • Represented large family office as lead investor in global PE / VC funds, including relating to fund agreements, side letters, co-investments and ancillary agreements and matters.

Honors & Awards

Honors & Awards

  • Illinois Leading Lawyers - 2020 (cited in multiple years)