The LegalTech Fund quadruples in size with $110M Fund II, led by McDermott Will & Schulte and Consilio, to back startups redefining the legal industry.
The LegalTech Fund (TLTF), the world’s first and only venture fund exclusively dedicated to legal technology, has closed its second fund at USD $110 million, a fourfold increase over its $28.5 million debut fund.
The new fund is anchored by McDermott Will & Schulte, which reinvested $10 million, and Consilio, a global leader in legal technology and enterprise services, joining as a lead investor. Both firms will collaborate closely with TLTF’s portfolio companies to accelerate innovation across the legal ecosystem.
The close represents a major milestone in today’s challenging venture capital environment, underscoring investor conviction that legaltech is entering a sustained era of transformation. The global legal services market, worth $1 trillion, is being reshaped by AI, workflow automation, and regulatory change, mirroring earlier waves of disruption in fintech and healthtech.
“Legal technology is no longer niche; it’s central to how every business transaction happens,” said Zach Posner, Co-Founder and Managing Partner of TLTF. “Our strategic partners’ investments put them in a strong position to lead the industry’s transformation and create more value for their clients.”
McDermott Will & Schulte’s continued participation signals the firm’s ongoing commitment to shaping—not reacting to—the industry’s technological shift.
“The world of law is at an inflection point that will transform our industry,” said Ira Coleman, Chairman of McDermott Will & Schulte. “Our partnership with The LegalTech Fund gives us access to the latest innovations shaping the future of law and helps us deliver maximum impact for our clients globally.”
Fund II attracted a diverse mix of institutional and strategic investors, including Clio, DocuSign, Harbor, Orrick, Thomson Reuters Ventures, and others.
“By investing in The LegalTech Fund, we’re putting millions behind driving innovation across the ecosystem,” said Andy Macdonald, CEO of Consilio. “Our goal is to build a marketplace where clients have access to the best companies and technology solutions, accelerating innovation and delivering real choice.”
TLTF’s second fund will continue to back early-stage startups up to Series A globally. Its portfolio already includes companies such as Wexler (AI for complex litigation), Entegrata (AI and analytics for legal teams), Flo Recruit (modernizing legal hiring), and HelloPrenup (affordable legal planning). Other investments like BlackCloak, SimpleClosure, and Intelligent Legal Solutions are redefining security, automation, and scalability in both the business and practice of law.
With Fund II, The LegalTech Fund solidifies its position as the central catalyst for legal innovation—fueling the next generation of startups transforming how legal services are delivered worldwide.