Corporate
Dec. 12, 2023
Cole-Frieman partner introduces new type of benefit fund
A benefit fund takes advantage of a 2019 law enacted in Delaware that allows for a statutory public benefit limited partnership. This venture capital model combines the flexibility of the Delaware limited partnership with the rigidity of a benefit corporation.
"Part of what led us to create this structure was to try to help impact investing continue to get momentum," said Frank J. Martin. Photo: Jana Asenbrennerova / for the Daily Journal
Before practicing private equity and venture capital law, Cole-Frieman & Mallon LLP partner and general counsel Frank J. Martin was a legal aid attorney and a hedge fund president, where he developed a passion for leveraging investment management to advance social causes.
Compared to traditional investing, impact investing gives funds and resources to companies and organizations working toward environmental, economic, and other societal...