The LegalTech Fund Closes $110 Million Second Fund to Power the Next Generation of Legal Innovation

• The second fund closes at nearly four times the size of The LegalTech Fund’s (TLTF) inaugural $28.5 million fund.

• The fund has invested in more than 80 entrepreneurs making the $1 trillion legal services industry faster, smarter, and more accessible.

• McDermott Will & Schulte doubles down as lead investor in TLTF’s second fund, joined by other industry strategics.

Ft. Lauderdale, FL, Nov. 17, 2025 — The LegalTech Fund (TLTF), the first and only fund exclusively focused on investing in legal technology companies, today announced the close of its second fund at $110 million. This represents a fourfold expansion over Fund I ($28.5 million). Leading global law firm and Anchor Partner McDermott Will & Schulte reinvests with $10 million, enabling the firm to partner with TLTF's entrepreneurs on the ideas and technologies that will define the future of legal services. Strategic partner Consilio, a global leader in legal technology solutions and enterprise legal services, also joined as a lead investor, reinforcing its commitment to legal innovation.

The close marks a rare achievement in today’s challenging venture capital environment, reflecting strong investor conviction that the legal industry is entering a sustained era of technology-driven transformation. It highlights the growing recognition of legal technology as a durable investment category and a key driver reshaping how legal services are delivered.

The $1 trillion global legal services market is being fundamentally transformed by technology, workflow automation, and regulatory change. Over the next decade, law firms and in-house legal teams will see their business models tested and redefined, creating new categories of companies and expanding access to legal support. Where only a fractional percent of consumers could once afford legal help, technology is now making services available to millions. Following waves of modernization in fintech, healthtech, and insurtech, legaltech is emerging as the next major vertical undergoing systemic change.

“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.”

Fund II attracted a diverse mix of institutional and strategic investors, with participation from partners including Consilio, Clio, Docusign, Harbor, Orrick, Thomson Reuters Ventures and several others.

“By investing in The LegalTech Fund, we're putting millions of dollars behind driving innovation across the ecosystem. Our goal is to help build a marketplace where clients have access to the greatest companies and the best technology solutions, creating an environment that accelerates innovation and delivers real choice," said Andy Macdonald, CEO of Consilio. 

TLTF’s second fund continues to invest globally in early-stage startups up to Series A, and has already backed companies redefining every corner of the legal ecosystem. Such companies include 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.

About The LegalTech Fund

Founded in 2021, The LegalTech Fund is the first venture fund solely dedicated to backing companies transforming the legal industry. TLTF invests globally in early-stage legaltech up to Series A, helping founders reimagine how legal services are practiced, accessed, and delivered. With a global network spanning law firms, corporates, and innovators—and initiatives such as the TLTF Summit and The LegalTech Lab—TLTF is shaping the next decade of legal innovation.

About McDermott Will & Schulte

Leading organizations turn to global law firm McDermott Will & Schulte for a better way to address legal challenges, connect with those at the forefront, and drive stronger outcomes. Working across more than 20 offices globally, our 1,750+ lawyers act on data-driven insights, deep relationships, and unmatched industry experience to deliver on our commitment of Always Better.

About Consilio

Consilio is the global leader in eDiscovery, document review, flexible legal talent, and legal advisory & transformation services. Through its Aurora Digital Enterprise Platform, the company empowers multinational corporations and law firms to reduce risk, improve efficiency, and drive better outcomes. Aurora integrates advanced AI — including Guided AI Review, Native AI Review, AI Investigation, and TrueLaw narrative AI — into a unified platform that provides freedom, deep project visibility, and control. Consilio operates offices, review centers, and data centers across Europe, Asia, and North America.