US legal firm Foley & Lardner said its Foley Ventures Fund II, a corporate venturing fund for investing in or with Foley clients, has raised $2.6m from its partners.
Combined with the firm’s initial venture capital fund, Foley Ventures Fund I, the firm’s partners have raised a total of $6.6m and invested in 32 clients.
The development of the Foley Ventures funds is a result of the firm’s venture capital and private equity work with funds and emerging growth companies. The firm’s partners recognised that clients need more than legal insights to succeed and funded Foley Ventures Funds I and II to invest in – or alongside – them.
Gabor Garai, chair of Foley’s private equity and venture capital practice in Boston, said: “Establishing Foley’s active venture capital funds has proved to be very important in supporting our clients in their pursuit of capital to grow their businesses or to…
