Brilliant Law gains City investment for growth

YORKSHIRE-BASED Brilliant Law, the UK’s first regulated law firm to be founded by non-lawyers, has completed a significant fundraising to help it grow.

A number of private equity funds and high net worth individuals participated in the funding round, which was led by Elcot Capital Management. The amount raised, which has not been disclosed, will be used to drive forward Leeds-based Brilliant Law’s business as it looks to broaden its client offering and expand its customer base.

The firm has also appointed experienced city operator and former head of investment banking at Numis Securities, Jag Mundi, as a non-executive director. Mr Mundi, who was also a significant investor in the fundraising, was a corporate lawyer at City law firm Gouldens (now Jones Day) from 1988 to 1993 before entering the world of investment banking with Guinness Mahon and Co.

After five years with Investec where he was co-head of corporate finance, Jag joined Numis Securities.

Matthew Briggs, chief executive of Brilliant Law, said: “We have completed a significant fundraising and are adding like-minded and supportive investors to the company’s register. This extra funding will allow Brilliant Law to strengthen and broaden the company’s service offering and expand Brilliant Law’s customer base.

“The recent changes in regulation have allowed a new type of law firm to emerge. Our model takes advantage of the latest web-based technology to deliver a more efficient and cost-effective alternative to traditional law firms, while maintaining the same high standards of service. Our approach puts our clients’ needs at the centre of everything we do and will see smaller businesses able to afford quality and tailored legal services at lower costs than they have experienced previously.”

Mike Vogel, chairman and CEO of Elcot Capital Management, said: “I believe the company’s ability to offer high-quality legal services through a groundbreaking platform will enable it to take market share and tap into an otherwise under-serviced customer base.

“Brilliant Law’s ambitious and experienced management team, coupled with its innovative approach, gives us full confidence that the company is going to expand rapidly.”

Matthew Briggs said, “I am delighted to be welcoming Jag, who will further enhance our board’s skill-set. It reflects well on our progress that we are already able to attract individuals of Jag’s calibre.”

Brilliant Law, which launched in January, has the support of chairman Jeremy Fenn, who sold Sports Internet Group to BSkyB for £300m in 2001.