Latham & Watkins and Harvey team up on AI tool for fund formation

What the collaboration covers

According to the announcement, the partnership brings together lawyers from Latham's Investment Funds Practice and Harvey's product and engineering teams to advance the technology supporting the fund documentation process. The work is focused on building AI capabilities across key aspects of fund formation, including LPAs, side letters, subscription documents and comment memos.

The companies say that building Latham's fund formation experience, market knowledge and practitioner perspective directly into development is meant to streamline processes. The stated aim is to give lawyers more opportunities to focus on the strategic, business-critical issues that matter most to clients and their investors.

What the companies say

Matthew Chase, Global Chair of Latham's Investment Funds Practice, described the nature of the work: "Fund formation requires lawyers to navigate an enormous amount of detail while staying focused on the commercial priorities of sponsors and investors." He said the firm wants to combine Harvey's engineering expertise with the breadth of practitioner perspective across Latham's global platform.

Winston Weinberg, CEO and Co-Founder at Harvey, said: "The best legal technology is built with a deep understanding of how sophisticated lawyers work and what they need." According to Weinberg, Latham gives Harvey's teams direct insight into the needs of lawyers handling some of the most complex fund formation matters.

Amber Banks, an M&A and Private Equity Partner and member of Latham's AI Strategy Committee, said the firm sees opportunities to apply AI in targeted ways that complement lawyers' experience and judgment. Rene Mendoza, Latham's Chief Information Officer, said the firm is pleased to continue collaborating with Harvey. He said the work equips internal teams with AI tools while introducing AI solutions into the firm's practice.

Latham's Investment Funds Practice

The announcement describes the practice as one that advises leading private capital sponsors on the formation and structuring of private investment vehicles across asset classes and strategies. According to Latham, the team brings market insight, regulatory sophistication and creativity to help sponsors and investors navigate complex fund, regulatory and transactional issues throughout the fund lifecycle.

What it means

The announcement does not give a launch date, pricing or performance figures for the planned solution, and it does not say how or when it will be rolled out. What it does show is a law firm and an AI vendor choosing to build a tool around one specific practice area, using practitioners in the design process. For fund clients, the companies point to technology-driven workstreams in fund documentation, with lawyers aiming to spend more time on strategic issues.