US law firms take a punt on start-ups

Entrepreneurial law firms in the US are taking a view on start-up companies with a number of them setting up their own venture capital funds and others providing facilities at their offices for new companies.

Law firms are taking an entrepreneurial view Peshkova

US Law firms are sponsoring incubators as a number set up investment  funds and provide a wide range of assistance to new start-ups with potential. Foley & Lardner has created a nonprofit incubator called Catapult Chicago which helps start-ups get to the next stage through providing office space and access to lawyers. According to the ABA Journal, West Coast firm Wilson Sonsini Goodrich & Rosati has also made a move to woo start-ups by providing work and meeting spaces for its clients, one-on-one coaching and networking opportunities as well as setting up a small venture fund to make small investments in their clients. Meanwhile Shari Wynne of MWR Legal in Texas has put together an accelerator called Incubation Station, offering a programme with mentors which has seen 11 companies raise more the $10.5 million in funding. Source:  ABA  Journal

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