Cooley Attorneys Setting Up Venture Fund

Silicon Valley law firm Cooley LLP made some big waves in July with an expansion into "Silicon Beach" and a new office in Santa Monica. Today, a report says that a number of the firm's attorneys have created a new startup investment fund, to specifically invest in interesting startups, to allow the firm's attorneys to invest in companies. It's not uncommon for law firms serving the startup community to hold investments in companies, and those law firms occasionally take equity in exchange for discounted or waived fees in startups they serve. It's unclear how and if the new venture fund will invest in any of the firm's new Silicon Beach clients.