Oakley Capital agrees sale of legaltech platform vLex to Clio
Oakley Capital, a leading pan-European private equity firm, announces that its Oakley Capital Origin Fund has agreed the sale of legaltech platform vLex to Clio, a Canadian legal software company based in British Columbia, Canada. The transaction values vLex at $1 billion, making the global legal intelligence platform one of the few technology startups to achieve unicorn status in Spain.
As part of the transaction, the seller, Origin, will partially reinvest in the combined company resulting from the integration together with the founders of vLex, in order to benefit from the expected future growth in this new phase.
vLex track record and Oakley Capital’s support
Oakley invested in vLex in September 2022 in order to support the development of its artificial intelligence capabilities and accelerate the internationalisation of the business. Oakley supported Lluís and Angel Faus, the founders of vLex, in their expansion into the US through the strategic acquisition of Fastcase, a purchase that helped double the business. In 2024, vLex launched Vincent, the company’s AI-powered legal process tool. The vLex business has since transformed from a database in the legal world to a powerful platform of work tools, backed by an unrivalled private database. Today, vLex serves more than half of the firms in the AmLaw 100, the ranking of the largest law firms in the US.
Clio’s Profile and Strength
Clio is the market leader in legal technology for law firms of all sizes around the world. The company benefits from the digitisation of day-to-day processes in law firms, such as client onboarding, timekeeping, billing and document management. Trusted by more than 200,000 legal professionals in over 130 countries, Clio is redefining the way law firms operate and deliver client-centric services in a digital-first era.The combination of the two companies will leverage Clio and vLex’s strengths in the industry and practice of law to offer an integrated platform for legal clients, with significant cross-selling opportunities.
Peter Dubens, Managing Partner and co-founder of Oakley Capital, said: ‘Oakley specialises in working with great entrepreneurs, and Lluis and Angel have proven themselves to be great entrepreneurs. They spotted an opportunity to develop an artificial intelligence platform for lawyers and launched their product to the global market. We are proud of the role Oakley has played in positioning vLex as a strategic business for the legal industry. We now look forward to the next stage of vLex’s growth in partnership with Clio’.
Lluís Faus, CEO and co-founder of vLex, commented: ‘In just three years, vLex has transformed from a European legal software company to a global innovator that is helping to shape the future of law. From establishing a significant presence in the US market, to completing a transformative acquisition and launching a revolutionary AI tool, we are grateful for the support Oakley has given us every step of the way. We look forward to joining forces with Jack and his team to build the next benchmark in AI-powered legaltech.’
Jack Newton, CEO and founder of Clio, said: ‘This acquisition marks a turning point in legal technology. The transformative combination of legal research, law firm management and cutting-edge artificial intelligence results in a game-changing platform that unifies the business and practice of law. Together, Clio and vLex are redefining the way the law is practiced and the future of the profession.’
Oakley Capital was advised by JP Morgan, A&O Shearman, EY and Alvarez & Marsal.
