Startup/VC work in NYC Forum

[Anonymous User]

I am deciding between schools (B v. P) and I am mostly interested in transactional work in an emerging companies practice group. I know that SV is where most of this work is at, but I don't have ties to CA and if I go to school on the east coast I don't know how well I can get back there. What are the startup/vc groups like in NYC? Who are the biggest players in this area in the NYC market?

[Anonymous User]

Verging on non-existent. Not profitable enough to make work in NYC. There's a bit more of it in Boston, if you prefer to be on the east coast.

[Lawyerrr]

Cooley is pretty big for start-ups.

[Anonymous User]

We were told by someone at one of the big VC funds that the only realistic spot outside of SF/SV is Boston.

[trebekismyhero]

Go to Berkeley and work in SV if you want to do Startup/VC work. As the above poster said, Boston has decent work. As does Seattle and Austin, but idk if those startups actually go with firms in those cities or work more with the SV firms that do it all the time.

[jbagelboy]

if this is what you want to practice, I think Berkeley is the clear winner

[Anonymous User]

Also, query why you're interested in this practice - its generally viewed as one of the less pleasant transactional practices. Lots of low margin, commoditized, change-the-names-on-the-form kind of work. And its relatively easy to lateral in as a midlevel to SV firms, especially from top NY transactional firms that can give you a more well-rounded transactional experience.

[lawschool90]

Also, query why you're interested in this practice - its generally viewed as one of the less pleasant transactional practices. Lots of low margin, commoditized, change-the-names-on-the-form kind of work. And its relatively easy to lateral in as a midlevel to SV firms, especially from top NY transactional firms that can give you a more well-rounded transactional experience.

Anon--would you mind elaborating a little on why it's viewed as one of the less pleasant practices? Is it simply because a lot of the work is mindless/commoditized, or are there also hours/lifestyle or boom and bust components to it that make it unpleasant? Thanks

[Anonymous User]

boom bust (SV firms got killed in 2001 and their associates got killed, in the sense of fired), unsophisticated clients that cant afford to pay for good work and don't know the difference anyways, all the papers are the same and its very form-driven, most of your successful clients graduate up to real law firms once they hit it big. SV firms take laterals in volume from the big wall street firms, which IMO reflects that they're perfectly happy to use their juniors as grunts and then piggyback off of NY training.

[Anonymous User]

To echo the above anon, I took a VC class in law school and really liked it. During my SA, I went to talk to an associate that did some VC work and had just transferred from a SV firm. He said that it was the worst work in corporate and it was the main reason he left the old firm. That clients wait until the last minute to respond to you and expect you to always be responsive and that it was one of the reasons he left. He said he wanted to do general PE work and it is a lot better and more sustainable.

[Anonymous User]

I'm an associate at a satellite office of Wilson/Fenwick/Cooley/Gunderson and disagree with a lot of what is being said here. I don't think it's undesirable at all and have never really heard that sentiment. A lot of the ppl who work at my firm could easily have gone to wall street firms (myself included) but chose to work in this industry b/c they like it.

I don't think there as anything form-driven about our work. In fact, public company work is generally way more form driven. I do mainly venture capital and M&A deals, and almost every document is heavily negotiated.

Anyways, just my $.02

[lawschool90]

I'm an associate at a satellite office of Wilson/Fenwick/Cooley/Gunderson and disagree with a lot of what is being said here. I don't think it's undesirable at all and have never really heard that sentiment. A lot of the ppl who work at my firm could easily have gone to wall street firms (myself included) but chose to work in this industry b/c they like it.

I don't think there as anything form-driven about our work. In fact, public company work is generally way more form driven. I do mainly venture capital and M&A deals, and almost every document is heavily negotiated.

Anyways, just my $.02

Interesting, thanks very much for this. If I may ask, what are your hours/schedule like?

[Anonymous User]

I work about 55 hours a week. Sometimes 50 or maybe a little less but not hardly ever higher than 60.

[UpandDown97]

I work about 55 hours a week. Sometimes 50 or maybe a little less but not hardly ever higher than 60.

This sounds like a great gig then.

[desola]

my experience seems to indicate that exit options are also far more interesting/arguably superior than just being a general corporate associate at a big firm. now obviously being the latter at a super elite firm is different, but compared to anything outside of the V5 down, i'd rather have the exit options of a Wilson/Cooley/Gunderson/Fenwick for sure.

addressing the question of this kind of work in NYC, it seems like it exists but its harder to figure out what firms have the biggest chunks of the work. i'd say gunderson rules this area in NYC, and I know that WSGR has very little presence. (obviously fenwick isn't even there). Cooley is somewhat in the middle. add to that lowenstein and orrick and i think thats the scene.

[Anonymous User]

Anon above who works in satellite office of Wislon/Fenwick/Cooley/Gunderson

I agree of the above poster's assessment of the NYC market. Gunderson rules it. I've done deals with Lowenstein NY and also Goodwin NY. Goodwin represents some PE firms that are in the business of buying up tech companies (how I dealt w/ them), but I'm not sure if they are company side on anything.

Good luck...if you have any specific questions I can PM you if you post your username

[Anonymous User]

Anon above who works in satellite office of Wislon/Fenwick/Cooley/Gunderson

I agree of the above poster's assessment of the NYC market. Gunderson rules it. I've done deals with Lowenstein NY and also Goodwin NY. Goodwin represents some PE firms that are in the business of buying up tech companies (how I dealt w/ them), but I'm not sure if they are company side on anything.

Good luck...if you have any specific questions I can PM you if you post your username

[Anonymous User]

Anon because this question might out me at my LS. Are there any firms that really do startup/VC work in DC? Is that even a thing? What's quality of work like (obviously not going to be same level as in SV)>

[Nat Sherman]

I don't know how WilmerHale hasn't been mentioned for NYC VC yet. Granted they're more focused on energy tech and life sciences, but it terms of volume, WilmerHale does the most.

[lawschool90]

Anon because this question might out me at my LS. Are there any firms that really do startup/VC work in DC? Is that even a thing? What's quality of work like (obviously not going to be same level as in SV)>

Bump. Would be interested to know as well.

[WhiskeynCoke]

Anon above who works in satellite office of Wislon/Fenwick/Cooley/Gunderson

I agree of the above poster's assessment of the NYC market. Gunderson rules it. I've done deals with Lowenstein NY and also Goodwin NY. Goodwin represents some PE firms that are in the business of buying up tech companies (how I dealt w/ them), but I'm not sure if they are company side on anything.

Good luck...if you have any specific questions I can PM you if you post your username

I know Goodwin does lots of company side work in CA & Boston - wouldn't be surprised if they also do so in NY.

[note7wins]

Anon above who works in satellite office of Wislon/Fenwick/Cooley/Gunderson

I agree of the above poster's assessment of the NYC market. Gunderson rules it. I've done deals with Lowenstein NY and also Goodwin NY. Goodwin represents some PE firms that are in the business of buying up tech companies (how I dealt w/ them), but I'm not sure if they are company side on anything.

Good luck...if you have any specific questions I can PM you if you post your username

Just came across this thread and would love to hear more about your practice as I'm considering to lateral. Could you PM me?

[Anonymous User]

Doesn't foley do this work on the east coast as well?