Press Release
Source: Fortune
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
04.23.24
Pillsbury’s Investment Funds team advised long-time client AlleyCorp, a family office-turned investment advisor, in the formation of its first venture capital fund closing, with total commitments of more than $250 million.
AlleyCorp, which was recently featured in Fortune, had originally been the family office of serial entrepreneur Kevin Ryan, who co-founded many well-known companies including MongoDB, Gilt Groupe, Business Insider, Zola and Transcend Therapeutics.
Pillsbury helped AlleyCorp transform from a family office to a third-party fund advisor to take on outside investors for the first time.
The Pillsbury deal team was led by Corporate partner and co-leader of Pillsbury’s Emerging Companies & Venture Capital practice Ron Fleming and Investment Funds partner Brent Morowitz and included senior associate Taylor O’Toole, Tax partner Josh Becker and associate Niko Orfanedes.