Legal tech is booming. A new VC firm wants lawyers in on the action.
A new venture capital firm, GCVC, has been launched by over 50 general counsels to invest specifically in legal technology startups. The firm aims to bridge the gap between legal professionals and the software tools that are currently reshaping their industry.
Why it matters
It represents a shift in the legal sector where practitioners are moving from being passive software users to active investors in the tools they rely on.
Erick Rabin and Matt Holbreich. GCVC More than 50 lawyers are launching a new venture fund, GCVC, to invest in legal tech. Funding is pouring into legal, but lawyers are rarely involved in deciding which tools get funded. GCVC's investors include current and former lawyers at Salesforce, ElevenLabs, Bilt, and Rippling. A lawyer, an investor, and a founder logged onto a Zoom call. It sounds like the opening of a joke. Instead, it's part of the origin story of GCVC, a venture fund that wants lawyers to have a stake in the startups remaking their profession. The firm came out of stealth on Tuesday with more than 50 general counsels investing their own personal capital, plus Wilson Sonsini as its first law firm backer.
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