Elitsa Dimitrova

Elitsa provides strategic counsel on transactions, combining practical insight with a focus on achieving client objectives.  Clients appreciate her ability to take ownership of a transaction and move it forward.  A business‑minded deal lawyer, she serves as the point person on complex deals, driving strategy, coordinating stakeholders, and keeping transactions focused on execution and results—an approach clients consistently value.  Her work spans diverse industries, with a focus on delivering practical clarity and aligning legal strategies with clients’ business objectives.

Elitsa serves domestic and international private companies, private equity funds, family offices, and shareholders by guiding complex mergers and acquisitions, private placements and venture capital transactions.  She also consults clients on general corporate governance and equity compensation matters.  As part of SGR’s M&A Team for First-Time Sellers®, Elitsa has taken many founders and family-owned businesses across the finish line of a business sale.  Previously, she led the Emerging Industries Team, reflecting her expertise in emerging technologies and innovative business sectors. Before joining Smith, Gambrell & Russell, Elitsa was a corporate associate at a boutique firm at the University of Illinois Research Park, where she concentrated on emerging technologies.

Elitsa also enjoys contributing to the Greater Chicago area community by providing pro-bono legal advice.  In her quiet time, she appreciates spending time with her family, traveling, books and nature.

Elitsa's Practice

Representative Matters

M&A and Private Equity

• Represented an Italian public company in its acquisition of a Chicago-based software business delivering customer engagement solutions and customization.
• Represented a leading Chicagoland transportation broker in its sale to a private equity buyer.
• Represented a family-owned Chicago area warehousing, distribution, and transportation solutions provider in the food, beverage, and consumer packaged goods industry in its sale to a strategic buyer listed on NYSE.
• Represented a family-owned manufacturer of food ingredients in its sale to a specialty chemical company with a food and beverage division that is listed on NASDAQ.
• Represented an AI decision-making software provider in its sale to a global private equity buyer.
• Represented an innovative transportation services software service provider with offices in Eastern Europe in its sale to a leading national digital freight broker.
• Represented an innovative energy generation company in its asset sale to a strategic buyer in exchange for cash and ownership in the purchasing entity.

Venture Capital

• Represented the lead investor in a $40,000,000 Series D Financing of a cell therapy company focused on scientific discovery and the development of breakthrough treatments for neurological disorders.
• Represented the lead investor in a $60,000,000 Series B Financing of a leader in translating RNA-modifying protein (RMP) biology into promising new therapies for cancer treatment.
• Represented an innovative agricultural software company in Series Seed, Series A and Series B equity sales and related securities filings, including with respect to international investors.
• Represented an alternative investment venture capital fund in numerous equity and debt private placement transactions.
• Represented a venture fund as the lead investor in its Series A Preferred $12,000,000 purchase, including two rounds of convertible notes.
• Represented a communications software company in a $10,000,000 Series B Preferred equity sale.

Fund Formation

• Assisted in the representation of a venture capital sponsor to form multiple primary venture capital funds with approximately $180,000,000 in capital commitments intended for preferred equity investments in technology companies.
• Assisted in the representation of a “fundless” venture capital sponsor in the formation of multiple investment vehicles investing in technology startups.
• Assisted in the representation and formation of an alternative investment venture capital fund and its management company.