Bloomberg Law has recognized Lowenstein Sandler as one of its Pro Bono Innovators of 2023 for helping form the Historic Fund, a venture capital fund of funds designed to build up endowments at Historically Black Colleges and Universities, and for its work reducing extreme prison sentences for juvenile offenders.
Christina Holder, counsel for the Lowenstein Center for the Public Interest, describes how a team of Lowenstein attorneys led by Ed Zimmerman and Ekwutozia U. Nwabuzor collaborated with investors and funds to create a structure that supports HBCUs financially and deepens relationships between those managing HBCU endowments and venture capital fund managers: “The firm has active emerging company/venture capital and investment management practices, and many of our attorneys are passionate about using their skills and networks to advance racial equity. The Lowenstein team started from the premise that structural and other barriers had excluded HBCUs from participating in and benefitting from the venture capital sector, which widened the wealth gap between the endowments of PWIs (predominantly white educational institutions) and HBCUs (historically Black colleges and universities.).” She adds: “The Historic Fund has positive impacts on both systemic and individual levels. Systemically, the fund allows recipient HBCUs to move toward endowment parity with PWI counterparts. HBCUs may use endowment resources to create additional scholarships, attract top student and faculty talent, invest in facilities, and engage in groundbreaking research.” Lowenstein helped the Historic Fund raise an initial $10.2 million in committed fund interests to build HBCU endowments and is actively recruiting additional venture fund managers to participate in the initiative.
Natalie J. Kraner, senior public interest counsel, describes the firm’s contributions to the landmark decision in State v. Comer, which struck down New Jersey’s mandatory 30-year sentence for individuals convicted of homicide offenses as minors: “We determined that a ‘storytelling brief’ that shares real-life examples of the unique rehabilitative potential of young people would be helpful . . . The amici we represented all committed serious crimes when they were young and went on to serve decades in prison where they matured and had substantial institutional accomplishments. Upon release, they rejoined their families and are making meaningful contributions to society.” She continues: “Their stories of reform and redemption reflect the experiences of many young people who have made tremendous strides toward rehabilitation and deserve a second chance outside prison walls. Their voices deserved to be heard and contributed to a positive result.” Following the decision, approximately 75 individuals were immediately eligible to petition for early release. The Lowenstein team that drafted the amicus brief included Kraner and Stephanie Ashley as co-counsel with the Rutgers Criminal and Youth Justice Clinic.
About Lowenstein Sandler LLP
Lowenstein Sandler LLP is a national law firm with over 350 lawyers based in New York, New Jersey, Palo Alto, Utah, and Washington, D.C. The firm represents leaders in virtually every sector of the global economy, with particular emphasis on investment funds, life sciences, and technology. Recognized for its entrepreneurial spirit and high standard of client service, the firm is committed to the interests of its clients, colleagues, and communities.
