Metropolis participant to advise three UK start-ups over six-month interval
Baker McKenzie has joined a rising quantity of Metropolis outfits to lend its legal experience to fledgling fintech firms by way of the launch of a brand new support fund worth £100,000.
The outfit mentioned the six-figure fund will present structured legal support to a few “up and coming” fintech firms over the course of a six-month interval, and is open to all fintech firms based mostly within the UK.
The transfer follows related fintech funding initiatives launched by the likes of Addleshaw Goddard, which put aside as much as £500,000 in free legal support as half of its ‘AG Elevate scheme’, and Simmons & Simmons, which supplied as much as £100,000 to assist “exciting” new companies working within the fintech area.
Elsewhere, magic circle participant Slaughter and Might supplied as much as £30,000 in free legal support to 5 start-ups as half of its ‘Fintech Fast Forward’ programme, whereas Hogan Lovells launched a free mentoring programme to support fintech entrepreneurs.
Bakers’ new fund may also embrace a structured legal plan to ascertain a roadmap and prioritise spend, a start-up pack of greatest follow legal templates and checklists, and complimentary entry to the agency’s skilled enterprise professionals.
Additional, members could have entry to the agency’s related thought management, occasions and networks in addition to discounted and various charge preparations to assist their enterprise develop past the primary months.
Commenting on the brand new fund, Mark Simpson, Baker McKenzie fintech regulatory companion, mentioned: “I get no greater pleasure than seeing our strategic legal advice really help businesses grow. We hope that this fund will help those successful applicants to flourish and avoid unexpected pitfalls.”
Profitable candidates can be chosen by a judging panel of trade consultants together with fintech leaders from Revolut, Checkout, Anthemis and Salesforce and invited to current their enterprise at a pitch occasion in July.