Investing in Innovation: The Life Cycle of Corporate Venture Capital

Recent decades have witnessed non-financial firms’ forays into venture capital by creating Corporate Venture Capital (CVC) divisions. CVCs differ from traditional VCs that are seeking pure financial returns. Instead, CVCs are in general strategic corporate divisions for incumbent firms to respond to negative innovation shocks, and CVCs help those firms to expose themselves to new technologies in order to fix their weaknesses and regain their innovation edge. These findings have implications for understanding entrepreneurial financing and corporate innovation policies.


Luminance Raises $10M From Existing Investors

Luminance, the leading artificial intelligence platform for the legal profession, has raised $10m from existing investors Invoke Capital, Talis Capital and Slaughter and May, valuing the company at $100m. The funds will be used to support Luminance’s recent product expansion and global growth, with the company now having four offerings, five global offices and over 70 employees since launching in 2016.

Everlaw Secures $25 Million Series B Funding to Help Litigators Win

Everlaw, the cloud-based ediscovery and litigation platform, today announced a $25 million Series B funding round. New investor Menlo Ventures led the round, with continued participation from Andreessen Horowitz. This brings Everlaw’s total funding to over $34 million.

Exterro Announces Strategic Investment from Leeds Equity Partners

Exterro® Inc., the preferred provider of software specifically designed for in-house legal and IT teams at Global 2000 and AmLaw 200 organizations, today [May 23, 2018] announced a strategic investment from Leeds Equity Partners, a sector-focused private equity firm with a two-decade history of investing in the knowledge industries. The investment will enable Exterro to accelerate development of its market-leading orchestrated e-discovery solution and continue to strengthen the resources required to deliver world-class support to its customers.

Heretik Closes $2.4 Million Seed Round (Relativity Investment)

Heretik, a Chicago based software company that uses machine learning to make the contract review process smarter in Relativity, announced that it has completed its $2.4 million seed round of financing. Corazon Capital led the investment round with participation from existing investors Chicago Ventures and Relativity.

TCF Capital Funding Supports Knox Capital, Maranon Capital in Recap of HaystackID LLC

TCF Capital Funding, a division of TCF National Bank, announced that it provided $17,800,000 in secured financing to support Knox Capital Holdings and Maranon Capital in the recapitalization of HaystackID LLC. “With this, our second such transaction in the eDiscovery space, we are very pleased to have participated with a firm as well differentiated in its market as HaystackID”, said Scott Nielsen, TCF Capital Funding Vice President.

Legal Tech Fails To Sustain Deal Counts And Dollar Amounts

To rework the legal industry, which is steeped in tradition and regulation, large sums of money are likely required. In an effort to address these challenges, legal tech startups have received $1.5 billion in funding across 610 deals since 2010.

Pop-Up eDiscovery? The Pop-Up Employer in Today’s Workplace

“Computation, we think, has an opportunity to dramatically shift several costs in a way that traditional organizations haven’t realized,” Mr. Bernstein said. “It’s way easier to search for people, bargain and contract with them.”