Venture capital
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- Addleshaw Goddard LLP
- Arnold & Porter (UK) LLP
- CMS Cameron McKenna LLP
- Covington & Burling LLP
- Dorsey & Whitney
- Field Fisher Waterhouse LLP
- Hogan & Hartson
- Jones Day
- Kemp Little LLP
- Marriott Harrison
- Speechly Bircham LLP
- Wilmer Cutler Pickering Hale and Dorr LLP
- Winston & Strawn London
- Wragge & Co LLP
Osborne Clarke has built a ‘well-rounded and balanced’ practice representing both investors and companies, and is increasingly involved in fund formation. The eight-partner team, under the ‘technically excellent’ Greg Leyshon, spans the firm’s London, Bristol and Thames Valley offices, benefits from a presence in Silicon Valley, and advised on over £250m of transactions through 2008, including advising the shareholders of Apertio on its €150m sale to Nokia Siemens Networks.
SJ Berwin LLP’s funds potency extends into venture capital, where rivals concede it ‘has the fund formation market wrapped up’. It is also strong on the investor side in transactions, closing some 30 investments through 2008, and its range and reputation ensure it gains instructions on complex and unusual deals, for example secondary sales of entire venture capital portfolios. Perry Yam and Ylan Steiner lead the seven-partner team.
Top-notch TMT, life sciences and venture capital expertise come together at Taylor Wessing LLP to produce a top-tier practice. The firm is ‘entrenched in the Cambridge technology community’ and has excellent partners, including the ‘proactive’ David Mardle and the ‘professional, responsive and pleasant’ Simon Walker. In 2008 it advised Plastic Logic Limited on two additional funding rounds, raising US$120m.
Following Ian Ivory’s relocation to Moscow, Berwin Leighton Paisner LLP’s ‘excellent’ Geraint Lloyd is now key to the firm’s VC work in London, which includes advice to major VC and VCT providers like Close Ventures and Octopus.
Traditionally strong in company IP and technology, Bird & Bird LLP’s growing funds practice under partners Angus Miln and Simon Fielder is rated for its ‘24/7, straightforward, fast and excellent advice’. Existing clients include Index and Tate & Lyle Ventures, while new clients for 2008 included Hellman & Friedman and Khosla Ventures.
Attracting high praise from clients and peers alike, and rated for its ‘quality, pragmatism and commercial insight’, Brown Rudnick Berlack Israels LLP rises in the ranking this year. The team includes recommended partners in Roger Gregory and Scott Burns and stands out for its quality investor client base and transatlantic offering.
Praised for its ‘excellent knowledge and industry understanding’, Harbottle & Lewis LLP mainly advises growth companies and entrepreneurs in media, entertainment and technology, but in 2008 it continued to build its investor client base, adding Hemisphere Capital to existing clients Atomico and London Seed Capital.
Morrison & Foerster LLP, a major player in the VC arena globally with a strong focus on biotechnology, offers a full service from venture funding to exits. ‘Highly recommended’ partner Paul Claydon had an active 2008, closing notable deals for Plethora Solutions Holdings, Hunter-Fleming and Piramed.
Nabarro LLP advises various active investors, notably Balderton Capital and Accel. In 2008 it advised the latter on a US$16.8m investment in Playfish. Andrew Wigfall and Andrew Inkester are recommended.
Olswang is leveraging its track record in TMT to advise funds such as MVM, ISIS and Seven Spires, while at the same time diversifying into the leisure, retail and healthcare sectors. The ‘very knowledgeable, responsive and commercial’ team includes Tina Cowen and Stephen Rosen. Andrew Peddie has moved to Pitmans.
Orrick, Herrington & Sutcliffe took on much of Heller Ehrman (Europe) LLP’s ‘impressive’ London VC team in 2008. Noted primarily for investee work, although also active for funds such as Kreos Capital and Bressemer Venture Partners, Chris Grew, Struan Penwarden and Richard Eaton should benefit from the broad global VC footprint of their new firm, including a strong Silicon Valley presence.
Addleshaw Goddard LLP has a 40-lawyer private equity team handling investor-side VC work; Inflexion Private Equity, Graphite Capital, 3i, Beringea and Close Ventures are among its clients. Key figures include Mike Hinchliffe.
Arnold & Porter (UK) LLP, under Jeremy Willcocks, recently hired Paula Levitan and Carl Liederman from Manzanita Capital and Winston & Strawn London respectively. The team receives work from overseas funds, notably Perseus, but mainly advises technology and life sciences companies.
CMS Cameron McKenna LLP’s practice, under David Bresnick, acts for various funds including Lloyds TSB Development Capital, Octopus and Elderstreet Capital.
Covington & Burling LLP’s global strength in life sciences ensures a significant pipeline of VC work from the investment arms of multinationals like GlaxoSmithKline, as well as funds like Perseus Capital and Healthpoint Capital. Louise Nash is recommended.
Focusing on technology, life sciences and entrepreneurial companies, Dorsey & Whitney advises venture-backed clients in the UK and internationally. The three-partner team, under the ‘excellent’ Frances Doherty, is on the Imperial College law firm panel for emerging companies.
Field Fisher Waterhouse LLP partners Andrew Blankfield and the ‘unflappable’ Neil Foster enjoy the firm’s TMT strengths, gaining a good range of company-side VC work. 2008 highlights include advising G24 Innovations on a US$50m second round funding.
Hogan & Hartson’s international practice, under Jeffrey Hurlburt, advises major funds both in the UK and Europe (especially Scandinavia), and is strong in regulated sectors.
Jones Day’s team, under Adam Greaves, has a good balance of investor and investee clients, including Climate Change Capital, Sofinnova and I-Source Gestion, and worked on various transactions for the VC arm of Goldman Sachs in 2008.
Kemp Little LLP’s TMT client base is now accompanied by various VC funds. Notable client wins for 2008 included Amadeus Capital and Sunstone Capital. Lucy Vernall and Charles Claisse are recommended.
Marriott Harrison has a good investor client base including the likes of Matrix Private Equity and The Capital Fund. The team, under Duncan Innes, was strengthened in 2008 by the hire of David Bennett from SJ Berwin LLP and Dee Sian from Addleshaw Goddard LLP.
Andrew Clarke and Christopher Putt are key to Speechly Bircham LLP’s practice which has a good deal pipeline, offering ‘high-quality and appropriate advice’ to clients such as Close Ventures and Beringea. It benefited from the incorporation in June 2009 of Campbell Hooper’s corporate practice, including James Watts, who is recommended.
Wilmer Cutler Pickering Hale And Dorr LLP’s company-focused practice, under Joe Pillman, is strong in technology and life sciences, with recent highlights including advising BioVex Group, Inc on a US$40m Series F funding.
Under Barry Vitou, Winston & Strawn London ‘knows its tech inside out’ and targets start-up companies in the digital, new media, and emerging technology fields.
Wragge & Co LLP, a panel firm for a number of leading UK VCs - notably 3i, Abingworth, Index and Octopus - completed 27 venture transactions in 2008. Andy Stylianou heads the practice.