LegalTech fund closes $110 million as AI drives surge in legal innovation
The LegalTech Fund, a Fort Lauderdale-based venture capital firm solely dedicated to legal technology, has successfully closed its second fund at $110 million, nearly quadrupling the size of its initial $28.5 million fund. This significant milestone demonstrates growing investor confidence in the legal technology sector amid a sweeping transformation fueled by artificial intelligence.
Law firm McDermott Will & Schulte anchored the second fund with a $10 million commitment, joined by lead investor Consilio and strategic partners such as Burford Capital, Clio, DocuSign, Harbor, Orrick, and Thomson Reuters Ventures. This diverse backing underscores a shared conviction that the $1 trillion global legal services market is undergoing a sustained technology-driven evolution, reshaping how legal services are delivered.
Investments in legal technology surged to $2.4 billion through September 2025, setting a new annual record. The momentum accelerated further between mid-September and mid-October with over $1 billion in funding announcements, primarily driven by enthusiasm for AI’s ability to automate and streamline legal workflows. The LegalTech Fund’s co-founder Zach Posner highlighted that legal technology has moved beyond niche status, now central to every business transaction.
Fund II will focus on global investments in early-stage startups up to Series A, supporting ventures that modernize legal services. Notable portfolio companies include Wexler, an AI platform for complex litigation, and HelloPrenup, an online service simplifying prenuptial agreements. McDermott Will & Schulte's chairman Ira Coleman emphasized the fund's commitment to pioneering disruption in legal services rather than being disrupted.
By targeting innovation at the intersection of law and technology, The LegalTech Fund aims to aid entrepreneurs in transforming legal practice, accessibility, and efficiency. Its growing portfolio spans various facets of the legal ecosystem, from AI litigation tools and analytics platforms to recruitment and operational technologies, reflecting a dynamic and rapidly evolving market.
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