As sponsors of this year’s JUVE Award in Banking and Finance Law, our Frankfurt-based consultant Nicolai von Steinaecker had the opportunity to speak with Dr. Simon Schachinger, founding partner of Orbit, a young law firm recently nominated for the award. Their discussion touched on the nomination specifically and the legal market more broadly.
Nicolai von Steinaecker (NvS): Dr. Schachinger, once again, our warmest congratulations on the nomination. As a relatively young firm in the market, this must be an especially rewarding acknowledgment of your work?
Simon Schachinger (SiS): Absolutely, it makes us very proud and affirms that we are on the right path with our firm.
NvS: Can you tell us a bit about those early days, a little over three years ago, when you and your four co-founders (Dr. Christian Hillebrand, Dr. Joachim Mogck, Dr. Philip Mostertz, and Philipp Neidel) decided to go independent?
SiS: We received excellent training with our previous employer, which provided a solid foundation for our professional growth. However, over time, we felt an entrepreneurial urge to create something of our own. The idea of founding a completely new firm seemed like the natural next step. We carefully planned this move to ensure a seamless transition. Our approach is to offer fund advice at an even more specialized level. Within our niche, this additional specialization is incredibly valuable – for both team collaboration and precise, efficient client service. Orbit is the first German boutique law firm exclusively focused on fund advisory, meaning we advise fund managers and initiators of private equity and venture capital funds on one side and institutional, public, and private investors in alternative assets on the other. Our success so far has proven that this approach was the right one.
NvS: Interesting! So, is it similar to employment or antitrust law, where you either represent the management side or the investor side exclusively?
SiS: Generally, that’s an accurate way to describe it. We divide our practice between General Partners (GPs) and Limited Partners (LPs) and further specialize within these segments. Team members are dedicated to these two primary focuses. However, GP-focused colleagues, including myself, also advise investors on investment decisions. And to be honest, we benefit from understanding both sides’ perspectives. This approach ultimately leads to more comprehensive and balanced advice.
NvS: How did you come up with the name "Orbit"?
SiS: From the beginning, our goal was to find a name that would unify the entire team. It was also important to us that the name itself conveyed our client-centered focus. "Orbit" perfectly reflects this idea – the client is the center around which all our advisory work revolves. This name represents not only our approach but also provides a shared identity that the entire team embraces, and which is future-oriented. We’ve also conveyed this vision on our website to establish a fresh, innovative brand.
NvS: That aligns with our impression during our preparation for this discussion. We noticed on your website that Orbit offers two additional tools, the “Fund Scoring Tool” and the “Investor Onboarding Tool” – could you briefly explain these?
SiS: Certainly! As an innovative firm, we’re always asking how we can leverage legal tech to create added value for our clients. Our approach is not to introduce tech solutions for their own sake, but to address real challenges faced by our clients. Both the “Fund Scoring Tool” and the “Investor Onboarding Tool” were developed with this in mind, aiming to simplify time-consuming processes and boost efficiency, enabling us to support clients even better. The Investor Onboarding Tool, targeted at fund managers (GPs), streamlines and digitizes formerly lengthy subscription processes, allowing Orbit to fully manage investor onboarding. The Fund Scoring Tool, designed for fund investors (LPs), provides a standardized, visual assessment of the legal due diligence on target funds. This helps clients make risk-based investment decisions and gain insights on data-driven benchmarks for legal due diligence that are relevant from both risk and economic perspectives.
NvS: With so much innovation, you’re clearly setting the stage for growth. How do you plan to approach this – organically or with lateral hires?
SiS: Our focus is definitely on organic growth. Our priority is to build the firm for the long term, bringing in our younger colleagues as the next generation of partners. It takes years to acquire the necessary expertise in our highly specialized field. Plus, our niche market is very small, and we need excellent people on the opposite side to keep things interesting!
NvS: Currently, your partnership could be seen as a “boys' club.” How do you approach diversity and inclusion?
SiS: Diversity and inclusion are extremely important to us. However, it’s worth acknowledging that the PE/VC industry is still seen as male-dominated, and changing this structure takes time. This is evident in our applicant pool. Still, we consciously aim for diverse recruitment, rely on recommendations, and actively use trainee programs to build a diverse team. Rather than rigid quotas, we prioritize individual qualifications, personality, and a strong team dynamic. Enjoyment in work remains important despite the challenges, which also influenced our choice of location and design of our Berlin office: we work “in the thick of it,” with many clients nearby, and everyone enjoys coming into the office, creating a positive, collegial atmosphere.
NvS: So, does that mean you’re not considering opening another office in Germany?
SiS: Currently, we’re not planning any additional offices in Germany. Many of our clients, especially in VC, are based in Berlin. Additionally, our industry is well-connected, everyone knows and respects each other, allowing much of our daily work to be managed virtually or digitally without complications. Therefore, we don’t see an immediate need for additional local offices.
NvS: One last question: what are your personal passions outside of legal advisory and marketing? What drives you?
SiS: Music is a real passion for me, I have a few guitars in my home office, and whenever I need a creative break, I’ll play a bit. It helps clear my mind and brings fresh energy for work.
NvS: In that case, maybe you’ll take to the stage at the celebration on the 24th of October, the band might be open to a guest performance! We look forward to meeting in person and thank you for this engaging conversation!