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The LegalTech Fund Exceeds Goals upon Closing, Raising $28.5 Million to Invest in Promising Legal Tech Startups

·3 min read

First of Its Kind, Fund Dedicated for Legal Tech Attracts Top Investors and Posts Several Early Successes with Initial Investments

FORT LAUDERDALE, Fla., June 14, 2022--(BUSINESS WIRE)--The LegalTech Fund (TLTF), the first and only fund focused on investing in companies transforming the world of law, has closed its fund at $28.5 million, exceeding its $25 million goal. Officially closing in November 2021, TLTF attracted investment from Kapor Center Investments, innovative leading law firms such as McDermott Will & Emery (McDermott) and Orrick, and well-known technology companies such as DocuSign and Carta.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220614005286/en/

Zach Posner, General Partner and Co-Founder of The LegalTech Fund (Photo: Business Wire)

TLTF has invested in thirty companies to date, focusing on startups that enable law firms, corporate legal departments, and companies that enable the broader regulatory ecosystem. Taking an active investment approach, TLTF helps entrepreneurs reach their full potential by bolstering business development and customer connections and establishing a favorable community to support their growth. Typically, the Fund provides initial investments of up to $1 million.

Zach Posner, General Partner & Co-Founder of TLTF, remarked, "The LegalTech Fund invests in companies transforming the world of law. We are seeing the legal industry intersecting with financial, regulatory, consumer, privacy and technology, meaning that legal is a crucial pivot point for many businesses and individuals. Our early success stories have shown us that legal tech has tailwinds that accelerate even in poor economic times, and during a global pandemic. We are excited about our investors and the companies we are supporting, realizing our vision of creating a vibrant community of legal tech growth and innovation."

"We are always working to peer over the horizon for our clients—this time through a very crowded legal technology landscape," said McDermott Chairman Ira Coleman. "We want to fund the best ideas and leverage the exceptional experience of the team behind The LegalTech Fund to shape the legal technology market moving forward. Our phenomenal growth over the last few years has put us in the position to make this happen, and we are doubling down on that success as we look to the future."

"We invested in The LegalTech Fund as part of our DocuSign Ventures initiative which reinforces the company's existing strategic investments and partnership efforts across the startup ecosystem," said Eric Darwin, Head of Corporate Development at DocuSign. "DocuSign Ventures is excited to partner with the disruptors like TLTF who are propelling smarter, simpler and frankly better ways of executing and fulfilling agreements."

TLTF has prominent venture partners including Mike Suchsland (former President of Thomson Reuters Legal Business) and Bill Murphy of Cresting Wave (former CTO of Blackstone).

For more information on TLTF’s portfolio of investments, visit https://www.legaltech.com/portfolio.

About The LegalTech Fund

The LegalTech Fund (TLTF) is the first and only fund focused on investing in companies transforming the world of law to help them accelerate their success and reach their full potential. TLTF has curated a community of investors and advisors that includes top law firms, legal service providers and leading technology companies. TLTF invests in legal technology startup companies across the globe, focusing on software providers that target law firms, corporate legal departments and regulatory/compliance professionals. TLTF produces podcasts and Nate’s News, a publication curating important news in legal tech. For more information about TLTF, visit legaltech.com, email info@legaltech.com, or follow us on LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220614005286/en/

Contacts

Media Contact for The LegalTech Fund
Christy Burke, Burke & Company PR
212-620-7711
cburke@burke-company.com