General counsels have launched GCVC, a new venture capital fund backed by over 50 legal executives and law firm Wilson Sonsini to invest in legal technology startups.

Key Points

• GCVC was founded by Matt Holbreich and Erick Rabin to provide legal industry expertise to early-stage software companies.
• The fund is backed by general counsels from major companies including Salesforce, ElevenLabs, Whatnot, Circle, and Rippling.
• Legal tech startups attracted $2 billion in venture capital funding during the first half of 2024.
• The fund has already invested in startups such as Stilta and Sandstone, providing founders with direct feedback on product utility and market positioning.
• GCVC operates similarly to industry-specific funds like Stage 2 Capital and Cyberstarts by leveraging the professional networks of its limited partners.

Why it Matters

This fund bridges the gap between legal software developers and the corporate counsels who ultimately purchase and use these tools. By involving industry insiders in the investment process, GCVC aims to accelerate the adoption of technology that automates administrative legal tasks and improves professional efficiency.