Bloomberg Law
Sept. 30, 2020, 10:55 AM UTC

Snowflake’s IPO Was a Startup Stock Success For One Big Law Firm

Brian Baxter
Brian Baxter
Reporter

Snowflake Inc. raised $3.4 billion in a record-setting initial public offering that sent its stock price soaring and provided blockbuster returns for investors, including the outside lawyers advising the company.

Cooley, a Palo Alto, Calif.-based firm with more than $1.3 billion in gross revenue, represented the cloud data company on its stock market debut earlier this month. Current and former Cooley lawyers also have a roughly $150 million piece of Snowflake through GC&H Investments LLC, an affiliated investment fund that snagged a lucrative stake in the technology unicorn.

That puts the Cooley lawyers’ venture fund alongside larger Snowflake backers ...

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