US firm Cooley posted an almost 6% jump in revenue for the 2024 financial year, punching back through the $2bn barrier.

Revenue clocked in at $2.1bn, a 5.8% increase on 2023 levels, with profit per equity partner rising 9.45% to just under $3.9m. Revenue per lawyer rose 4.7% to $1.6m. The firm last hit the $2bn revenue mark in 2022. Despite the uptick in 2024, further gains were offset by a decline in its London business, with revenue sliding by 8% to $94.5m, likely driven by headwinds in the UK market and the London office’s investment in lateral hires.

Claire Keast-Butler, co-partner in charge at Cooley in London since last August, said: “Towards the end of the year we expanded our emerging companies and venture capital team with the addition of three top-tier partners, and this investment in a foundational practice, paired with our commitment to further expand our platform in London, will support strong revenue growth in the coming years.

“We see a huge opportunity as the UK and Europe continue to be a hub for innovation, and cutting-edge clients need our experience to help spur their growth plans.”

Those incoming partners last year included Angus Miln, Ali Ramadan and Helen Pantelides, who joined in September from Taylor Wessing, Goodwin Proctor and White & Case respectively.

James Maton, who also became co-partner in charge in London back in August, said: “As we celebrate our 10th year in London, we are proud to have achieved our goal of becoming one of the leading law firms for disruptive high-growth private life sciences and technology companies and investors in the UK and Europe.

“Over the last decade we have doubled our lawyer headcount and continue to have ambitious growth plans as we look at the next decade and Europe’s position as a flourishing hub for innovation and technology.” 

Some of the firm’s wider highlights over the past year include advising Kpler on its $241m acquisition of Spire’s maritime business and GeBBS Healthcare Solutions on its sale to EQT Private Capital Asia. In its emerging companies and venture capital business, it advised Educapital on its $11m Series A financing of Female Invest and Cresta on its $125m Series D financing.

Its equity capital markets team also advised Septerna on its $331m IPO and Autolus Therapeutics on its strategic collaboration with BioNTec. It regularly advised deal underwriters including Goldman Sachs, JPMorgan and Morgan Stanley.

Keast-Butler was also shortlisted for ‘Woman of the Year’ at the Global Legal Post’s Women & Diversity in Law Awards.