VC and emerging companies in NYC?

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VC and emerging companies in NYC?

Postby Anonymous User » Thu Mar 14, 2013 12:16 am

Can anyone tell me which firms are generally considered the best for VC and emerging companies in NYC? Not SV... have a fiancee, and we are tied here in NYC for a few years? It's one of my biggest interests, by far, and Im finding each resource to differ wildly.

I know Gunderson is a VC boutique. Wilson Sonsini. Cooley. Ive also heard STB? And Kirkland?

Im a 1L at CLS/NYU with about average grades but a super fancy soft that should help a lot. Im not putting all of my eggs in one practice area basket, but Im a voracious networker, and I want to start targeting some of these firms.

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eav1277
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Re: VC and emerging companies in NYC?

Postby eav1277 » Thu Mar 14, 2013 12:18 am

Voracious is a cool word :lol:

LawIdiot86
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Re: VC and emerging companies in NYC?

Postby LawIdiot86 » Thu Mar 14, 2013 12:27 am

At this point, your goal should be not screwing up second semester. Lots of firms do receptions during the spring of 1L, so go to those, but wait until finals are over to start the heavy networking. There are league tables and rankings that can help you figure out which firms you should try to network your way into before OCI, like http://www.chambersandpartners.com/USA/Editorial/71018

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Re: VC and emerging companies in NYC?

Postby Anonymous User » Thu Mar 14, 2013 12:35 am

LawIdiot86 wrote:At this point, your goal should be not screwing up second semester. Lots of firms do receptions during the spring of 1L, so go to those, but wait until finals are over to start the heavy networking. There are league tables and rankings that can help you figure out which firms you should try to network your way into before OCI, like http://www.chambersandpartners.com/USA/Editorial/71018

Agreed that my goal should not be screwing up second semester. Taking 1-2 hours a week to network, email, etc isnt going to hurt.

Also, that's a horrible approach to networking. Networking is not emailing an attorney a month before OCI and being like "hey, gimme a jerb!" It's about making meaningful connections and getting to know people. You cant do that in the few weeks leading up to OCI. Plus then it appears as if you are using them, when in fact you should be getting to know them, their practice area (whichever it may be), their firm, and law generally.

My approach has thus far yielded 30-40 emails, 5 phone calls, and 3 coffee meetings with 2 general counsels, 2 partners, and 6 associates. It works.

Not trying to be an ass. Sorry if I came off like it. Thanks for the link! :D

eav1277 wrote:Voracious is a cool word :lol:

Fuck yea.

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Re: VC and emerging companies in NYC?

Postby Anonymous User » Thu Mar 14, 2013 10:23 am

STB and Kirkland are the tops at private equity and fund formation, which relates to VC but is probably different from what Gunderson, WSGR, etc. do.

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Re: VC and emerging companies in NYC?

Postby lyra4 » Thu Mar 14, 2013 10:34 am

I am on the software development side, so bear that in mind. I would advise you to go to the NY Tech Meetup (http://www.meetup.com/ny-tech/) and socialize with folks there. It's huge; I won't say everyone in the NYC startup scene attends, but certainly everyone is aware of it and a significant portion do attend. If you went, you could probably ask folks what firms they're involved with. There is also an online board for the group you could scan through, but the in person events would probably be more useful.

Also check out the meetup's sponsors. Look at some of the spin off groups. I'm only familiar with the programming ones, but I think there are some which are more business oriented.

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Old Gregg
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Re: VC and emerging companies in NYC?

Postby Old Gregg » Fri Mar 15, 2013 10:15 pm

Anonymous User wrote:STB and Kirkland are the tops at private equity and fund formation, which relates to VC but is probably different from what Gunderson, WSGR, etc. do.


That is absolutely correct.

STB=Mega Private Equity
K&E=Mega Private Equity, Middle Market PE
WSGR=Emerging Company, but now focusing more on public company M&A and servicing the corporate needs of their mature emerging companies. Most "New York" of the SV firms.
Gunderson=Emerging company only
Fenwick=Emerging company but also takes care of them as clients as they mature. Think of them as between Gunderson and WSGR.
Cooley=Mostly represents investors (think VCs).

I'm not sure how this carries forward in NYC, but this is how the firms traditionally work.

There's almost no overlap between STB and K&E, on one hand, and Fenwick, Gunderson, Cooley, and WSGR.

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Re: VC and emerging companies in NYC?

Postby Anonymous User » Sat Mar 16, 2013 7:19 pm

Great, thanks for the info everyone! Im looking more for the gunderson, cooley, wilson, fenwick side of things.

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Re: VC and emerging companies in NYC?

Postby IFoughtTheLaw » Sat Mar 16, 2013 8:34 pm

Keep in mind that, while growing, some of these practice groups are extremely small in NY. Gunderson is actually a decent size, but even so, I believe that Gunderson, Cooley, and Wilson all usually only take 0-2 summers for this practice area in NY. I think Orrick is making a push to bring their emerging company practice to NY too.

PM for me info.

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Re: VC and emerging companies in NYC?

Postby Anonymous User » Sun Mar 17, 2013 8:42 pm

I think Lowenstein is pretty big in VC. One of the top 10 in VC deal volume, I think. Not an elite firm, but VC, yes.
Also, I took a similar "voracious" approach to networking and it paid off big time, so good for you.

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Re: VC and emerging companies in NYC?

Postby Anonymous User » Thu Mar 21, 2013 1:18 pm

OP here.

Ive been researching this A LOT recently (Im on Spring Break... show me your tits!). Ive also reached out to ~4-5 people in the last week. Two phone calls scheduled.

Am I crazy for trying to do this in NYC? All of the firms have offices in NY, but they are very heavy in CA. I have ties to the socal area, and like CA generaly, but for my first job I'd like to be in NYC. But the offices are just so small here in NYC. Are the deals also small? Obviously silicon valley takes the cake for start ups, but I have to imagine that NYC VC isnt exactly anything to sneeze at. Does NYC handle stuff for the Boston-NYC-Philly-DC area?

Anonymous User wrote:I think Lowenstein is pretty big in VC. One of the top 10 in VC deal volume, I think. Not an elite firm, but VC, yes.
Also, I took a similar "voracious" approach to networking and it paid off big time, so good for you.

Ive heard of them, actually. Thanks! I'll check it out. The thing though is that they are in New Jersey... wtf?

And I hope my networking goes a long way. My grades are mediocre and Im trying to get into a niche field, so I need all the help I can get. My super-soft should help.

Fresh Prince wrote:STB=Mega Private Equity
K&E=Mega Private Equity, Middle Market PE
WSGR=Emerging Company, but now focusing more on public company M&A and servicing the corporate needs of their mature emerging companies. Most "New York" of the SV firms.
Gunderson=Emerging company only
Fenwick=Emerging company but also takes care of them as clients as they mature. Think of them as between Gunderson and WSGR.
Cooley=Mostly represents investors (think VCs).

This is huge, thanks.

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Re: VC and emerging companies in NYC?

Postby Anonymous User » Thu Mar 21, 2013 3:02 pm

OP here:

So I actually just had a conversation with a partner in VC at one of the 4 big firms, and I asked him about NYC/SV. He said that NYC is only 30% of what SV's VC market is, but that it's really booming. He was asked to transfer from SV to NYC in order to assist with the increased volume and develop their business. He said it was a result of the economic downturn. In the "old days" the financial services were sucking the capital market dry, but that's not the case in this new economy. He said he expects NYC to catch up to SV in terms of a being an environment conducive to entrepreneurship.

Hopefully this is a good sign for those hoping to do VC, as it may mean larger SA class sizes. Fingers crossed.




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