The LegalTech Fund has closed a $110 million second fund, nearly quadrupling the size of its inaugural $28.5 million vehicle and marking one of the most significant dedicated raises in the legal technology sector. The announcement comes as the legal market experiences a profound shift toward technology-driven service delivery, expanded access, and new business models.
McDermott Will & Schulte returned as lead investor and anchor partner, committing $10 million to the new fund to strengthen collaboration with entrepreneurs building next-generation legal technologies. Consilio, a global provider of legal technology and enterprise legal services, also joined as a lead investor, signaling continued institutional confidence in legaltech as a maturing and durable venture category.
The close represents a significant achievement in a challenging venture environment and reflects growing investor conviction that legaltech is entering a decade of accelerated transformation. The global legal market, estimated at $1 trillion, is rapidly evolving as artificial intelligence, workflow automation, and regulatory change reshape how services are delivered. The modernization waves in fintech, healthtech, and insurtech are now being mirrored in legal services, expanding access for millions who previously could not afford affordable support.
Fund II drew participation from a broad mix of institutional and strategic backers, including Consilio, Burford Capital, Clio, Docusign, Harbor, Orrick, Thomson Reuters Ventures, and others. With a global mandate, the fund continues to invest in early-stage companies through Series A and has already backed ventures in litigation technology, hiring modernization, AI analytics, consumer legal planning, and security automation. TLTF’s portfolio includes companies such as Wexler, Entegrata, Flo Recruit, HelloPrenup, BlackCloak, SimpleClosure, and Intelligent Legal Solutions.
Founded in 2021 as the first venture fund exclusively focused on legaltech, TLTF now supports more than 80 entrepreneurs building technologies that aim to make the legal system faster, smarter, and more accessible. Through its founder programs, industry partnerships, and global network spanning law firms and corporates, the firm positions itself as a central driver in shaping the next era of legal innovation.
KEY QUOTES:
“We launched TLTF to help entrepreneurs transforming the world of law realize their vision, and we are doing just that. 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.”
Zach Posner, Co-Founder and Managing Partner, The LegalTech Fund
“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. 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.”
Ira Coleman, Chairman, McDermott Will & Schulte
“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.”
Andy Macdonald, CEO, Consilio
