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David M. Lay

919 East Main Street
Twenty-Fourth Floor
Richmond, Virginia 23219
Phone:  804.343.4174
Fax:  804.783.7674


Mr. Lay focuses his practice on the representation of companies and individuals in a broad range of matters, with an emphasis on angel and venture capital financings, debt financings (including revolving, term, and asset-based facilities), mergers and acquisitions, secured transactions, and general corporate and securities matters. He has significant experience in the formation, organization, and on-going representation of emerging growth and technology companies, including information technology, internet, and high-tech research, development, and manufacturing companies. He also has advised several early stage BioPharma companies in connection with angel and venture capital transactions, M&A transactions, and contract review and drafting.

Legal Experience

  • LeClairRyan, Richmond, Virginia, 2000 - present 
  • Hunton & Williams, Richmond, Virginia, 1997 - 2000 
  • Law Clerk, The Honorable Ross W. Krumm, United States Bankruptcy Court, Western District of Virginia, 1996 - 1997

Memberships and Affiliations

  • Business Law Section of the Richmond Bar Association: Chairperson, 2010; Secretary, 2009; Executive Committee, 2007-2011; Organizing Committee, 2007
  • Virginia Bar Association, Committee on Virginia Third Party Legal Opinions Report
  • Virginia Bar Association, Banking and Uniform Commercial Code Committee, 2004


  • Listed among The Best Lawyers in America® for Corporate Law, 2013–2019
  • Recognized as a Virginia Super Lawyer in Securities & Corporate Finance, 2010–2017 and Mergers & Acquisitions, 2018 
  • Rising Star, Virginia Super Lawyers, Securities & Corporate Finance, 2007–2009
  • Virginia Business "Legal Elite," Business Law, 2009 & 2014-2016

Related Industries


  • J.D., cum laude, Washington & Lee University School of Law, 1996
  • B.S., Commerce (Finance Concentration), University of Virginia McIntire School of Commerce, 1993

Bar Admissions

  • Virginia