The LegalTech Fund (TLTF), which focuses on investing in companies ‘transforming the world of law’, has closed its fund at $28.5m, exceeding its $25m goal. TLTF attracted investment from Kapor Center Investments, as well as law firms such as McDermott Will & Emery (McDermott) and Orrick, and technology companies such as DocuSign and Carta.
TLTF, which has invested in thirty companies to date, helps entrepreneurs reach their full potential by bolstering business development and customer connections and establishing a community to support their growth. Typically, the Fund provides initial investments of up to $1 million. Recipients to date include Josef, Lawmatics and Nexl.
Zach Posner, general partner & co-founder of TLTF, said: “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.”
Other investors include 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.