Posted Jun 01, 2011 11:41 pm CDT
Foley & Lardner has reportedly turned to attorneys at the law firm to invest in a new venture capital fund intended to demonstrate to clients that it will go the extra mile to help them pursue business opportunities.
Although two Boston partners are overseeing Foley Ventures, the fund will look to venture capitalists for guidance about where to invest, according to the Am Law Daily.
The firm won’t be making its own decisions about where to put the fund’s money “because we lawyers don’t think we’re any good at that,” one of the two Boston partners, Gabor Garai, explained to the National Law Journal. “We rely on the expertise of professional venture capitalists to make the investment decisions, and then we piggyback on them.”
In a press release today, the 1,000-attorney Milwaukee-based law firm provides additional details about the project.
Orlando Business Journal: “Foley & Lardner launches $4M VC fund”
Tampa Tribune: “Foley & Lardner law firm launches capital fund”