Two new enterprises are attracting attention in legal technology and investing circles this week, aiming to pour hundreds of millions of dollars into legal tech and compliance businesses. The ventures are being spearheaded by well-known figures with backgrounds in Big Law, litigation funding, legal tech or finance.
The first, a newly-formed special purpose acquisition company (SPAC), is being launched by former Kirkland & Ellis chairman Jeffrey Hammes and Adam Gerchen, chief executive officer of plaintiffs’ firm Keller Lenkner. They are raising $200 million for a blank check company that will target companies in the governance, risk and compliance and legal technology and software (GRCL) sectors, according to a U.S. Securities and Exchange Commission filing from last week.
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