In 1959 Cooley Godward Kronish formed Draper, Gaither and Anderson, the first institutional venture capital limited partnership in the United States. Since then, we have participated in the organization of hundreds of venture capital and private equity partnerships. Our Venture Capital group was specifically organized to provide sophisticated counsel to venture capital and other private equity funds in connection with their fundraising, governance and investment activities. Built upon five decades of experience, our venture capital practice has the client volume, market presence, expertise and breadth of experience that make Cooley one of the foremost authorities on venture capital fund formation nationally. We serve as primary fund counsel to over 150 investment fund organizations, and in recent years have closed an average of 50 new private equity funds annually for these clients. In the past four years, the firm assisted more than 180 funds in their fund formation activities.
Due to our daily presence in the investment partnership marketplace, we are in a unique position to add value to our clients by providing them sound business advice regarding the strategically complex process of fund formation. We have daily experience with placement agents, gatekeepers, term sheets, private placement memoranda, and the nuances of the investor subscription process. Our advice incorporates an appreciation for the economic terms at work in this process.
Subsequent to the successful formation of a private equity fund, we continue to add value throughout the life of the fund as it makes its portfolio company investments. We close more than 400 private financing transactions each year. As in the fund formation area, our activity level permits us the strongest grounding in market terms and emerging trends and promotes exceptional efficiency in concluding transactions. In this setting our intimate understanding of private equity funds and their aims and limitations enables us to serve as valuable advisors to the funds, as well as to the companies seeking to obtain financing from private equity investors.
 PRACTICE GROUP MEMBERS |
At Cooley, more than 30 lawyers practice in the fund formation area and dozens more play a role in the practice group through representation of private equity funds in their investment activities. The firm possesses technical expertise and specialized personnel in all of the primary areas pivotal to venture capital and private equity fund formation, including federal and state securities laws (including the Securities Act of 1933, the Investment Company Act of 1940 and the Investment Advisers Act of 1940), state and federal income taxation, the Bank Holding Company Act, ERISA and small business investment company regulation. Comprehensive biographical information on the members of the group is available from the Firm or on our website by clicking on the Professionals tab at www.cooley.com/venturecapital.
AREAS OF PRACTICE |
Venture capital fund formation
Portfolio company venture capital financings (See
Venture Capital Financings)
Leveraged buyout fund formation
Leveraged acquisitions (See
Mergers & Acquisitions for more information)
Corporate-venture capital
Small business investment companies (SBICs)
Fund-of-funds
Offshore investment partnerships
Secondary market transfers of partnership interests
General partner counseling (including withdrawal and addition of partners)
Related practices
