Pillsbury Adds Venture Capital Partner Eunice Choi in San Francisco, Continuing Worldwide Expansion of Investment Funds Practice

“With many of our clients facing uncertainty in the capital markets, we are seeing increasing enthusiasm for venture capital and other sources of private capital to fuel new ideas and innovations,” said Firm Chair David Dekker. “Eunice’s arrival aligns well with these developments, and her experience will be immediately beneficial to clients looking to grow and prosper in this environment.”

Choi represents sponsors across the U.S., Japan and Korea in the formation and oversight of a wide variety of private equity funds, ranging in size from multibillion dollar partnerships to very small early-stage venture capital firms, and advises a select number of institutional and corporate investors on their limited partner investments in private equity funds as well. She has extensive experience in organizing domestic and offshore fund entities for both fund establishment and the conduct of investment activities; preparing investment fund offering documents; negotiating partnership agreements and side letters with investors; structuring investment transaction vehicles; and documenting investment subscription processes. She also provides counsel to investment advisers on matters of regulatory compliance.

“Eunice has an expansive skillset that will benefit a wide array of clients active in the world of private capital—particularly those focused on VC investing,” said Semma Arzapalo, Pillsbury’s Investment Funds practice leader. “Her vast experience, diverse expertise and strong connections to the technology and venture capital sectors complement our existing funds team extremely well, and will be a tremendous boon to both the fund and portfolio company clients we represent in the space.”

Choi joins shortly after the April addition of David Holland, who joined as a partner from Kirkland & Ellis and provides early-stage VC clients with extensive fund formation and strategic investment advice. The pair join a strong and growing Investment Funds practice at Pillsbury that is currently ranked among the top-six firms globally for advising companies and investors in VC financings. Particularly noteworthy engagements handled by the firm include the formation of AlleyCorp’s first venture capital fund closing, with total commitments of more than $250 million, and the California Public Employees’ Retirement System’s (CalPERS) $1 billion commitment to elevating the next generation of emerging managers in the private market.

Choi’s arrival also continues the recent string of laterals to join Pillsbury in Northern California. In addition to Choi, other recent Northern California partner additions include intercontinental tech transactions practitioner—and 2024 Technology Lawyer of the Year—Daphne Higgs (Silicon Valley); Emerging Companies & Venture Capital lawyer Steven Green (Silicon Valley), who focuses on representing early-stage life sciences, biotechnology and digital health startups; Anne Voigts (Silicon Valley), an appellate lawyer who is also regularly engaged to handle high-stakes privacy and cybersecurity-related disputes; the data privacy and digital transformation team of Jeewon Serrato and Shruti Bhutani Arora (San Francisco); and veteran employment litigator JoAnna Brooks (San Francisco).

Upon her arrival, Choi added: “I am very impressed with Pillsbury’s collaborative culture, its world-class standing in the VC and tech ecosystems, the strength of its Asia offices, and its commitment to growth in Northern California. I look forward to working with the outstanding group of practitioners at Pillsbury who are performing at the very highest levels for cutting-edge clients in the innovation economy.”

Pillsbury’s global Investment Funds practice helps investment advisers, funds and institutional investors navigate fund creation, management, and operation. Lawyers across the firm’s U.S. and international offices counsel registered and exempt investment advisers, including private equity, venture capital, hedge fund and mutual fund managers, and benefit plan fiduciaries, in all aspects of their businesses including fund structuring and formation, managed accounts, funds-of-one advisory and sub-advisory arrangements. The firm also assists these clients with related strategic, transactional and regulatory compliance matters.