Sidley Austin is bringing on Cooley partner Shane Goudey in Palo Alto, California as the firm builds offerings tied to emerging companies.
Goudey will lead Sidley’s new venture capital fund formation practice as a partner. He has represented sponsor organizations in the formation of over 1,000 funds, according to the firm.
“When the opportunity to partner up with Shane and build around him, really, as the centerpiece of this practice presented itself, we knew this was the right move and we were all in to try to make sure that it would happen,” said Martin Wellington, managing partner of the Palo Alto office and a member of Sidley’s executive committee.
Sidley has been expanding its emerging company, venture capital offerings even though the most recent two-year period has seen a decade low activity in the space amid high interest rates. The firm has positioned itself for a return of activity in coming months.
“As I look at the faces across the table from me in these most recent days, people are really excited about what the next six months and 12 months entail, and so the level and pace of activity is now starting to increase,” Goudey said.
Goudey specializes in the formation and operation of investment funds, including venture capital, private equity, fund-of-funds, secondary market and debt. He represented venture capital funds Inspired Capital, Innovation Endeavors and The House Fund on capital commitments and fund raises.
“My goal at Sidley, very simply put, is building a world class destination VC fund practice that supports the widest variety of funds and fund managers across the globe,” Goudey said. “It is critically important for the success of this practice that we are representing all spectrums of the venture capital ecosystem.”
Wellington said the firm is going to look to build in the funds space in Palo Alto. “As much success as we’ve already had, we see ourselves as early innings,” he said.