Nextlaw Labs – the innovative legal tech venture development platform launched by global law firm Dentons – has signed a partnership with the early-stage startup fund Seedcamp. The aim is to co-sponsor a global call for the most promising legal tech startups (early stage). Selected startups will receive training, mentorship and investment from both Nextlaw Labs and Seedcamp. Representatives ofSeedcamp estimate that by 2017 the legal sector will generate $815Bn globally.
Nextlaw Labs is a global collaborative innovation platform focused on developing, deploying and investing in new technologies and processes to transform the practice of law around the world. Dentons is the lead supporter and investor in Nextlaw Labs, serving as the global testing ground for new products, services and other ideas to be vetted, piloted and scaled.
Seedcamp, the leading pre-seed and seed stage investor based in London, has built an impressive track record since its launch in 2007. The team has invested in more than 210 companies across multiple sectors from around the world, including startups such as Transferwise, Property Partner, legal tech company, Apperio (previously alongside Nextlaw Labs) the most powerful technology platform enabling value-based legal service delivery, and Juro, an AI assistant that helps businesses create, sign and manage contracts in a matter of seconds. To date its portfolio has raised more than $380 million in further funding and 14 companies have been acquired by companies, including AirBnB, BBVA and GoPro.
Following an application period where startups must apply, selected finalists will benefit from Seedcamp’s life-long platform of learning and support, which will be enhanced with mentorship from lawyers of the world’s largest law firm, Dentons. The chosen companies will gain in-house training and expert guidance on how to build their business, develop their brand and raise capital. The offer comprises a co-investment from Seedcamp and Nextlaw Labs of €100,000 (total) in exchange for 9% equity. Startups can apply until July 17th 2016 and more information is available here.
“This is an amazing opportunity to expand our initiative to identify and connect with the hottest legal tech companies of the future at a very early stage with Europe’s leading early-stage fund,” said Dan Jansen, CEO of Nextlaw Labs. “We see this as a natural partnership, leveraging the strengths and assets of both Nextlaw Labs and Seedcamp to support the next generation of talented legal tech startups.”
Reshma Sohoni, Founding Partner of Seedcamp, added, “The legal market is primed for fresh, forward-thinking startups to come in and shake up tradition. Using technology we can save law firms, companies and consumers precious time and money, in a market that is a high-cost item for all parties. At Seedcamp we work with the very best Founders to scale businesses that can have a significant impact on the status quo. We’re thrilled to be partnering with Nextlaw Labs to deliver this offer, and continue to expand our investment portfolio to include the rapidly growing world of legal tech.”
