Private equity and venture capital: Two industries united by lacklustre legal spend management
In July 2020, Apperio research revealed the commercial realities facing private equity legal leaders for the first time.
The study, based on a survey of 100 PE senior legal stakeholders in the US and UK with an average of more than USD10 billion under management across multiple funds, exposed rocketing scrutiny on legal spend and eroding commercial trust between external legal advisors and PE firm clients.
Using this data as a baseline, Apperio has now researched and analysed the situation confronting senior legal stakeholders in venture capital firms.
This paper examines:
- The levels of overall legal spend of PE and VC firms;
- The internal and external cost pressure drivers;
- The rocketing scrutiny on legal costs in the PE and VC world.