UK: Dotcom pioneer buys stake in ‘tech ecosystem’ specialist firm

The UK Law Gazette reports

A business set up by Brent Hoberman, a leading UK figure in the first ‘dotcom’ boom, has entered the legal services market by buying a minority stake in a self-styled ‘disruptor’ law firm. Following the deal, the value of which was not disclosed, technology specialist Chronos Law will be renamed Founders Law as part of the Founders Forum Group.

Chronos Law was founded in 2019 by fintech specialist and IT lawyer Tom Bohills, formerly with international firm White & Case, to work in the financial and regulatory tech sector. Its particular focus is on young to medium-maturity technology companies in high-growth mode. Its lawyers receive quarterly profit shares, have no billing targets and complete choice of working from home or office.

The firm ‘will remain fully independent but with the benefit of having a strategically important new shareholder,’ a statement said.

Bohills said: ‘Most tech businesses require flexible legal services that don’t fit the traditional law firm model. I designed the firm to scale with the ambitious start-ups we support. This new investment will enable us to further recruit and satisfy the growing demand from the tech sector and its need for a new way to access legal advice.

Founders Forum, set up in 2005, describes itself as ‘a family of businesses that champion founders via education, investment and professional services’. Founders Law is its first foray into legal services.

Brent Hoberman CBE, chairman and co-founder of Founders Forum Group said: ‘Tom and his team have built a unique legal practice that’s sensitive to the needs of scaling founders. Their knowledge of the tech ecosystem combined with their agile approach to legal services make them the ideal legal partner. They truly embed themselves in the businesses they support, empowering founders to grow and protect their ideas.’