We’re thrilled to announce our investment in Noetica, a data analytics and market intelligence platform focused on corporate debt benchmarking.
The corporate debt markets are among the largest capital markets in the world, with over $50 trillion outstanding. Despite the massive size of this market, the benchmarking and negotiation process is not efficient. When a corporation issues debt, an issuance document that is hundreds of pages long is negotiated among issuers, lawyers, banks, and investment managers. Attorneys on all sides of the transaction are left spending countless billable hours finding other comparable issuance documents and manually searching for the key precedent terms of each agreement. Due to the tedious nature of this process, the potential deal is only compared against a handful of precedents, leaving many key market terms missed in the process.
Dan knows this pain quite well, after investing numerous hours and nights in fixed income markets at BlackRock prior to practicing financing law at Wachtell, Lipton, Rosen & Katz. He teamed up with Tom and Yoni to build something better, and together they founded Noetica.
Noetica uses machine learning and natural language processing technology to analyze thousands of debt terms at a time, allowing customers to quickly compare key terms and assess whether terms in their deal are on or off market. Noetica enables deal professionals to find and incorporate market terms in the best interest of their clients by scanning the largest knowledge graph of corporate debt terms in the industry. The software makes it easy to navigate to the critical terms of a debt issuance; the manual research that used to take several hours can now be done in minutes.
The LegalTech Fund is excited to be backing the Noetica team, with Dan, Tom, and Yoni combining their skill sets in legal, technology, and business development to create something truly innovative in the corporate debt space. One of our investment theses is to fund technology that unlocks and structures the data in legal agreements, which is exactly Noetica’s mission.
Please welcome Noetica to The LegalTech Fund family and let us know if we can connect you to learn more.