Jonathan Axelrad (pictured left). Robert Fore and Gerald Chacon were the most senior lawyers at Wilson responsible for the firm’s venture practice. They’ve put together some of the area’s best go capital firms and manage their affairs with investors and start-ups. Top firms Sequoia Capital and Mayfield for example be among their clients. The move was announced a couple of hours ago internally at Wilson Sonsini. We’re hearing Wilson Sonsini one of Silicon Valley’s most aggressive law firms wasn’t happy. We’re told Axelrad & Co are trying to take with them five other lawyers in their group as come up as seven other professionals. Several undergo agreed to go others are still deciding.
The move is surprising because Axelrad has been at Wilson for 17 years and Wilson Sonsini is one of the most respected firms. Axelrad said in an converse that it took an “extraordinary” furnish for him to end to connect Goodwin. Goodwin’s depth was also a draw. Goodwin has a far larger group of fund lawyers with more than 15 partners devoted solely to serving funds from mutual funds to private equity and real estate. No longer can a small group of attorneys sufficiently bring home the bacon a venture capital firm’s needs said Axelrad. Venture firms are increasingly active in other areas including in hedge-fund debt and buyout activities. As deals get more complex. Axelrad said he open himself reaching out to other firms for advice. Wilson is still a relatively small firm by national standards change surface if it is a heavy charge among start-ups here in Silicon Valley.
Axelrad said leaving Wilson was the “hardest decision of my life,” citing his consider for the tighten and his friendships there.
Goodwin started last year with adjust lawyers in California but now has more than 60 lawyers in Palo Alto. San Francisco and San Diego. “It has set California in its crosshairs,” said Axelrad in an interview.
The act guts Wilson of its senior partners serving venture however Wilson itself has grown by poaching partners and its likely to touch quickly to restore its VC learn.
The Goodwin act continues a trend of expansion by the nation’s top law firms into California. “The top law firms have concluded that in a global sophisticated legal merchandise it’s either expand or fall behind,” Axelrad said. Goodwin has 850 attorneys with its main strength in Boston. New York and Washington. DC.
Axelrad’s aggroup when combined with Goodwin Procter’s accounted for almost 20 percent of all the new capital commitments made to venture capital funds in 2006 according to the two parties.
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Related article:
http://venturebeat.com/2007/10/03/goodwin-procter-steals-top-vc-lawyers-from-wilson-sonsini/
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