Lisa Holter Ankel


With 25 years of experience as a business and transaction lawyer, Lisa serves as outside general counsel to a diverse base of private companies and as lead deal counsel on M&A and other financing transactions.

She partners with business owners, management, investors and corporate boards on start-up and organizational matters, M&A transactions, raising money, shareholder agreements, buy-outs and a variety of joint venture and other commercial transactions. As a deal lawyer, Lisa brings a solutions-oriented approach to help her clients manage all aspects of an acquisition, sale or investment in the most efficient manner possible. Lisa has experience closing transactions in a wide array of industries including business services, transportation, industrial manufacturing, and health care.

Lisa also advises on formation of private-equity, venture, hedge, real estate and opportunity zone funds, as well as compliance with exemptions under the Investment Adviser, Investment Company and Commodities Exchange Acts. She advises investment advisers, fund managers, and institutional and high net worth investors on investment funds and secondary sales of alternative investments.

Lisa has a strong business background and acts as general counsel to her clients, advising them on a wide rages of issues that arise in their day-to-day operations.

Prior to practicing law, her professional background was in corporate finance, where she worked in the financial planning and cash management areas of Fortune 500 companies. Lisa frequently advises women-owned businesses on the certification process, and previously served on the certification committee for the Minnesota's Women's Business Development Center.


  • William Mitchell College of Law, J.D. summa cum laude
  • University of Minnesota, M.B.A. Finance
  • Georgetown University, B.S. Foreign Service, cum laude


  • Represented a Midwest PE fund in the acquisition and sale of an industrial manufacturing company with a $300 million enterprise value
  • Represented a Twin Cities Based Private Equity sponsor in the sale of a medical-grade plastics manufacturing business, which transaction marked more than a dozen transactions closed by Lisa in the plastics industry
  • Represented management in the sale of a Midwest restaurant equipment supplier to a private equity fund
  • Multi-step sale of minority interest, followed by sale of controlling interest, in private company to a financial investor
  • Lead counsel on private equity fund’s leveraged acquisition and roll-up of 3 manufacturing companies with senior secured and subordinated credit facilities
  • Formation of hedge fund investing in crypto currencies
  • Representation of institutional investors as LPs of private equity and hedge funds and alternative investment vehicles
  • Formation and organization of private equity, hedge and real funds, including GPs and Managers
  • Multi-state private offering of common stock for early-stage medical device company


  • Panelist, “M&A Exit Strategies,” Club Entrepreneur, March 2018
  • Speaker, Club E and Upsize Magazine, "Family Business Guide", May 2017
  • Speaker, “Physician Employment Agreements,” University of Minnesota Family Practice Residency Leadership & Finance Series, April 2017
  • Speaker, “Best Practices for Start Ups: Using Basic Legal Documents,” Fredrikson & Byron Start Up and Rapid Growth Enterprise (SURGE) Series, July 2016
  • Speaker, “Securities Essentials for Business Lawyers,” Minnesota CLE Center, December 2015
  • Speaker, “Show Me the Money,” Fredrikson & Byron Start Up and Rapid Growth Enterprise (SURGE) Series, October 2015
  • Moderator, “Financing Your Business,” Fredrikson & Byron’s Women’s Business Matters Series, April 2014
  • Moderator, “Negotiating for Your Business,” Fredrikson & Byron Women’s Business Matters Series, March 2014
  • “Changes to Minnesota Investment Adviser Regulation for Investment Advisers and Private Fund Managers,” FredALERT: Investment Management, October 2013
  • Speaker, “Women in Leadership,” Women’s Law Student Association of St. Thomas School of Law, April 2013


  • Association for Corporate Growth Program Committee, 2013-2017
  • Minneapolis Veterans Affairs Legal Clinic volunteer, 2016-present
  • Minnesota Women Lawyers, Advisory Board, 2014-present; Nominating Committee, 2018
  • MSBA Business Law Section 302A Committee
  • MSBA Business Law Section Partnership/LLC Committee
  • MSBA former Legislative Coordinator, Business Law Section
  • Girls in Action, Co-Chairman, Board of Directors, 2012-2014
  • Prevent Child Abuse Minnesota, Board of Directors, 1996-1997
  • Women’s Business Development Center, Minnesota Advocacy Award, 2012
  • Women’s Business Development Center, Advisory Committee, 2006-2018

Outside of work, Lisa indulges her creative and adventurous side with gardening, sewing Halloween costumes and skydiving.  

You can reach Lisa at 612-584-3401

Areas of Practice

Business Law

901 Marquette Ave S.
Suite 1675
Minneapolis, MN 55302

Call Us:

(612) 584-3400