The LegalTech Fund, a Fort Lauderdale -based venture capital firm, closed its new fund focused on investing in companies transforming the world of law.
The $28.5 million fund received investment from Kapor Center Investments, innovative law firms such as McDermott Will & Emery and Orrick, and technology companies such as DocuSign and Carta.
The fund, led by Zach Posner, General Partner and Co-Founder, invests in legal technology startup companies across the globe, focusing on software providers that target law firms, corporate legal departments and regulatory/compliance professionals.
The firm has invested in 30 startups to date, including Miami-based Pigeon Loans. Typically, the fund provides initial investments of up to $1 million. It leverages a community of investors and advisors who includes top law firms, legal service providers and leading technology companies, the firm said.
“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,” said Posner, who has been an investor, board member or executive for more than a dozen startups and tech companies, including Entic.
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