Restructuring to Tech Trans (or other transactional groups)

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Restructuring to Tech Trans (or other transactional groups)

Postby Anonymous User » Tue Mar 20, 2018 10:57 am

I'm a 3rd year in a top restructuring group looking to make a fairly dramatic change. Prior to joining the firm, I clerked for a BK court in SDNY/D. Del. and my practice is largely litigation based. Before law school I spent nearly a decade in various technology based roles for a few F500 companies. The further I get into my career, the more I realize that I miss the tech/business space. I would really like to join a tech transactions group but I fear I have wrecked my chances by not immediately going into a transactional group. I'd be willing to give up seniority for the opportunity to move. Does anyone have any insight in how to make this change or any anecdotes about people you know that have made a similar move?

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Re: Restructuring to Tech Trans (or other transactional groups)

Postby Anonymous User » Tue Mar 20, 2018 12:28 pm

Current SDNY/DE clerk here. Do you not like bankruptcy work? I'm joining a firm next year in a major market.

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Re: Restructuring to Tech Trans (or other transactional groups)

Postby Anonymous User » Tue Mar 20, 2018 2:20 pm

know a EDNY Bankruptcy clerk who did restructuring work at major firm, then lateral internally to the group's pure finance group, which is more private equity/ investment fund/ structured products group. Inquire your firm's HR and express your heart's desire. Much easier to lateral within the firm.

s1m4

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Re: Restructuring to Tech Trans (or other transactional groups)

Postby s1m4 » Tue Mar 20, 2018 2:24 pm

Anonymous User wrote:I'm a 3rd year in a top restructuring group looking to make a fairly dramatic change. Prior to joining the firm, I clerked for a BK court in SDNY/D. Del. and my practice is largely litigation based. Before law school I spent nearly a decade in various technology based roles for a few F500 companies. The further I get into my career, the more I realize that I miss the tech/business space. I would really like to join a tech transactions group but I fear I have wrecked my chances by not immediately going into a transactional group. I'd be willing to give up seniority for the opportunity to move. Does anyone have any insight in how to make this change or any anecdotes about people you know that have made a similar move?


One way you can do it is to play your restructuring experience to get into an M&A group, then focus on Emerging Companies & VC work, and while there try to take on ancillary tech transaction assignments as they come up until you get more and more work and then formally transition into that department.

kalcifer

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Re: Restructuring to Tech Trans (or other transactional groups)

Postby kalcifer » Tue Mar 20, 2018 3:26 pm

s1m4 wrote:
Anonymous User wrote:I'm a 3rd year in a top restructuring group looking to make a fairly dramatic change. Prior to joining the firm, I clerked for a BK court in SDNY/D. Del. and my practice is largely litigation based. Before law school I spent nearly a decade in various technology based roles for a few F500 companies. The further I get into my career, the more I realize that I miss the tech/business space. I would really like to join a tech transactions group but I fear I have wrecked my chances by not immediately going into a transactional group. I'd be willing to give up seniority for the opportunity to move. Does anyone have any insight in how to make this change or any anecdotes about people you know that have made a similar move?


One way you can do it is to play your restructuring experience to get into an M&A group, then focus on Emerging Companies & VC work, and while there try to take on ancillary tech transaction assignments as they come up until you get more and more work and then formally transition into that department.


Honestly don't see how this could possibly work. Nvm the fact that M&A work is different form ECG work, no one will let you do tech trans work as a M&A person. That's just not how this works.

ruski

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Re: Restructuring to Tech Trans (or other transactional groups)

Postby ruski » Tue Mar 20, 2018 4:47 pm

make known you are willing to take a bump down in class year. I've seen more than one bankruptcy associate retool into a new practice group by taking a bump in class year around 2013/2014 when bk groups in general slowed down. so few people actually have tech trans experience I'm sure they're open to lawyers from nonconventional practice groups especially if they can get a 3rd year for the price of a 1st or 2nd year. and your background should def give you a leg up.

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Re: Restructuring to Tech Trans (or other transactional groups)

Postby s1m4 » Tue Mar 20, 2018 9:55 pm

kalcifer wrote:
s1m4 wrote:
Anonymous User wrote:I'm a 3rd year in a top restructuring group looking to make a fairly dramatic change. Prior to joining the firm, I clerked for a BK court in SDNY/D. Del. and my practice is largely litigation based. Before law school I spent nearly a decade in various technology based roles for a few F500 companies. The further I get into my career, the more I realize that I miss the tech/business space. I would really like to join a tech transactions group but I fear I have wrecked my chances by not immediately going into a transactional group. I'd be willing to give up seniority for the opportunity to move. Does anyone have any insight in how to make this change or any anecdotes about people you know that have made a similar move?


One way you can do it is to play your restructuring experience to get into an M&A group, then focus on Emerging Companies & VC work, and while there try to take on ancillary tech transaction assignments as they come up until you get more and more work and then formally transition into that department.


Honestly don't see how this could possibly work. Nvm the fact that M&A work is different form ECG work, no one will let you do tech trans work as a M&A person. That's just not how this works.


Thats not true - look at Associates @ Cooley, Stradling, WSGR etc.

kalcifer

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Re: Restructuring to Tech Trans (or other transactional groups)

Postby kalcifer » Tue Mar 20, 2018 10:42 pm

s1m4 wrote:
kalcifer wrote:
s1m4 wrote:
Anonymous User wrote:I'm a 3rd year in a top restructuring group looking to make a fairly dramatic change. Prior to joining the firm, I clerked for a BK court in SDNY/D. Del. and my practice is largely litigation based. Before law school I spent nearly a decade in various technology based roles for a few F500 companies. The further I get into my career, the more I realize that I miss the tech/business space. I would really like to join a tech transactions group but I fear I have wrecked my chances by not immediately going into a transactional group. I'd be willing to give up seniority for the opportunity to move. Does anyone have any insight in how to make this change or any anecdotes about people you know that have made a similar move?


One way you can do it is to play your restructuring experience to get into an M&A group, then focus on Emerging Companies & VC work, and while there try to take on ancillary tech transaction assignments as they come up until you get more and more work and then formally transition into that department.


Honestly don't see how this could possibly work. Nvm the fact that M&A work is different form ECG work, no one will let you do tech trans work as a M&A person. That's just not how this works.


Thats not true - look at Associates @ Cooley, Stradling, WSGR etc.


I am VERY familiar with them (in SV anyway)

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Re: Restructuring to Tech Trans (or other transactional groups)

Postby Anonymous User » Wed Mar 21, 2018 12:34 am

Separate anon, and agreed, hard/impossible to do tech trans work while an m&a or emerging company associate. Number of reasons for that which I won’t get into.

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Re: Restructuring to Tech Trans (or other transactional groups)

Postby Anonymous User » Wed Mar 21, 2018 3:09 pm

I am currently looking at a partner of a large firm that does M&A/VC and tech trans - I don't want to provide a link to bio, but just curious - how do you get there? Is it a matter of switching practice groups and getting experience and then just taking on more clients in various practice groups as you become older?

kalcifer

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Re: Restructuring to Tech Trans (or other transactional groups)

Postby kalcifer » Wed Mar 21, 2018 5:34 pm

Anonymous User wrote:I am currently looking at a partner of a large firm that does M&A/VC and tech trans - I don't want to provide a link to bio, but just curious - how do you get there? Is it a matter of switching practice groups and getting experience and then just taking on more clients in various practice groups as you become older?


It's difficult/impossible to do all 3 well. The bio might say all 3 but s/he probably does 1 of the 3 almost exclusively. This is assuming the firm is reputable.

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Re: Restructuring to Tech Trans (or other transactional groups)

Postby Anonymous User » Wed Mar 21, 2018 6:31 pm

Look at the WSGR website, and look at the partners that do Technology Transactions, and you will see many/most of them also list working on M&A/VC Deals.

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Re: Restructuring to Tech Trans (or other transactional groups)

Postby Anonymous User » Thu Mar 22, 2018 1:02 am

I am separate anon above. Will actually try to answer OP question. OP, by tech trans did you mean any emerging company m&a practice involving tech companies, or do you specifically mean the subgroup that is focused more on licensing/privacy/technology IP deal issues? If you meant the latter, think about going for certifications in that subject field, e.g. IAPP certs on privacy. Will cost you a grand or so (plus study time) to put that on your resume, not a sure thing by any means to get you that position, but likely to help you stand out and show interest.

oblig.lawl.ref

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Re: Restructuring to Tech Trans (or other transactional groups)

Postby oblig.lawl.ref » Thu Mar 22, 2018 1:41 am

Anonymous User wrote:Look at the WSGR website, and look at the partners that do Technology Transactions, and you will see many/most of them also list working on M&A/VC Deals.


Dude, they did that in deal support. They did not negotiate the transaction agreements. They marked up reps, provided high level advice on IP issues and staffed associates to due diligence. Tech trans at WSGR/Cooley/Fenwick DO NOT also do M&A/VC work for the most part. There are a few partners that try to dabble and hold themselves out as able to do M&A/VC/gen corp but without going into too much detail, I do not think they should be.

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Re: Restructuring to Tech Trans (or other transactional groups)

Postby Anonymous User » Thu Mar 22, 2018 1:56 am

oblig.lawl.ref wrote:
Anonymous User wrote:Look at the WSGR website, and look at the partners that do Technology Transactions, and you will see many/most of them also list working on M&A/VC Deals.


Dude, they did that in deal support. They did not negotiate the transaction agreements. They marked up reps, provided high level advice on IP issues and staffed associates to due diligence. Tech trans at WSGR/Cooley/Fenwick DO NOT also do M&A/VC work for the most part. There are a few partners that try to dabble and hold themselves out as able to do M&A/VC/gen corp but without going into too much detail, I do not think they should be.


I'm a corp associate at a native bay area firm (WCFG), and this is completely correct. Guys, you need to stop looking at websites and ignoring what people who are actually working here are saying. tech trans is generally its own specialty group at a lot of these firms. You're not going to see a lot of people who do TTG + EC/VC/M&A etc. That's unfortunately not how it works, though tbh I don't know why. Seems like it can be integrated.

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Re: Restructuring to Tech Trans (or other transactional groups)

Postby Anonymous User » Thu Mar 22, 2018 9:13 pm

Anonymous User wrote:
oblig.lawl.ref wrote:
Anonymous User wrote:Look at the WSGR website, and look at the partners that do Technology Transactions, and you will see many/most of them also list working on M&A/VC Deals.


Dude, they did that in deal support. They did not negotiate the transaction agreements. They marked up reps, provided high level advice on IP issues and staffed associates to due diligence. Tech trans at WSGR/Cooley/Fenwick DO NOT also do M&A/VC work for the most part. There are a few partners that try to dabble and hold themselves out as able to do M&A/VC/gen corp but without going into too much detail, I do not think they should be.


I'm a corp associate at a native bay area firm (WCFG), and this is completely correct. Guys, you need to stop looking at websites and ignoring what people who are actually working here are saying. tech trans is generally its own specialty group at a lot of these firms. You're not going to see a lot of people who do TTG + EC/VC/M&A etc. That's unfortunately not how it works, though tbh I don't know why. Seems like it can be integrated.


Agreed (Bay Area tech trans associate). Firm profiles are also often extremely broad and aren't clear about what the person actually does on a day-to-day basis. I see profiles saying partners/associates saying they do M&A/restructuring/blah blah when it's actually like mostly just VC work (or vice versa).

ghostoftraynor

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Re: Restructuring to Tech Trans (or other transactional groups)

Postby ghostoftraynor » Thu Mar 22, 2018 11:30 pm

Partner bios are a huge troll. If someone is listed as tech trans and M&A, 99% of the time that means they do tech trans for M&A deals.



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