The LegalTech Fund (TLTF) today (17 November) officially announced the close of its second fund at $110m, with Am Law top 50 law firm McDermott Will & Schulte and eDiscovery vendor Consilio joining as lead investors. This fund is four times the size of the first and we know that McDermott invested $10m, enabling the firm to partner with TLTF on ideas for investment. Fund II attracted a diverse mix of institutional and strategic investors, with participation from partners including Burford Capital, Clio, Docusign, Harbor, Orrick, Thomson Reuters Ventures and several others.
“We launched TLTF to help entrepreneurs transforming the world of law realize their vision, and we are doing just that,” said Zach Posner, co-founder and managing partner of The LegalTech Fund. “Legal technology is no longer niche; it is starting to be understood that it sits at the center of every business transaction. Our strategic partners’ investments put them in a strong and unique position to lead the industry’s transformation and ultimately create more value for their clients.”
“The world of law is at an inflection point that will transform our industry. We’re committed to driving that disruption, not being disrupted by it,” said Ira Coleman, chairman of McDermott Will & Schulte. “Our continued partnership with The LegalTech Fund gives us access to the latest innovations shaping the future of law and enables us to deliver maximum impact for our clients globally.”
TLTF’s second fund continues to invest globally in early-stage startups up to Series A, and has already backed companies including Wexler, which provides the AI platform for complex litigation; Entegrata, which helps legal teams utilize AI and analytics; Flo Recruit, which modernizes legal hiring; and HelloPrenup, which expands access to affordable legal planning. Other companies such as BlackCloak, SimpleClosure and Intelligent Legal Solutions are reshaping the delivery, security and scalability of both the business and practice of law through automation and AI.
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