A company created by Brent Hoberman, a leading British figure in the early dotcom boom, entered the legal services market by buying a minority stake in a self-proclaimed “disruptive” law firm. As a result of the transaction, the value of which has not been disclosed, technology specialist Chronos Law will be renamed Founders Law within the Founders Forum Group.
Chronos Law was founded in 2019 by fintech specialist and IT lawyer Tom Bohills, formerly of international law firm White & Case, to work in the fintech and regulatory sector. He particularly focuses on young and mid-sized tech companies in high growth mode. Its attorneys receive quarterly profit shares, have no billing targets, and have the complete choice of working from home or the office.
The company “will remain fully independent but with the advantage of having a strategically important new shareholder,” a statement said.
Bohills said, “Most tech companies need flexible legal services that don’t fit the traditional law firm model. I designed the firm to evolve with the ambitious start-ups we support. This new investment will allow us to recruit more people and meet the growing demand from the technology sector and its need for a new way to access legal advice.
Founders Forum, established in 2005, describes itself as “a family of companies that champion founders through education, investing and professional services.” Founders Law is his first foray into legal services.
Brent Hoberman CBE, President and Co-Founder of Founders Forum Group, said, “Tom and his team have built a unique legal practice that is 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 fit into the businesses they support, allowing founders to grow and protect their ideas.