October 24, 2020
Business News

Venture Capital and Private Equity Legal Leaders Pressured to Cut Costs Due to Deal Volume Dips and Rise of Procurement, Says Apperio Study

LONDON–()–Venture Capital (VC) and Private Equity (PE) firms may differ in many ways, but they share a similar predicament – increased pressure to cut legal costs as business revenue from M&A and fundraising declines, according to a new Apperio study entitled “Private Equity and Venture Capital: Two Industries United by Lackluster Legal Spend Management.” This PE/VC study found that VC firms in the U.S. and UK are likely to be under even more perceived pressure to cut costs, and both PE and VC firms are concerned about lack of billing accuracy, timeliness and predictability from their law firms.

Apperio’s PE/VC Study showed that in 2019, PE companies spent an average of $9.5 million on legal fees while…

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