The program, dubbed ‘AG Elevate’, will be formally launched on 17 November. It is estimated that around 16 fintech ventures will be selected for the program’s first intake, with each company offered a package of free legal advice from Addleshaw Goddard’s top fintech lawyers as well as broad-based mentoring support from across the Addleshaw Goddard team and access to networking events for a period of 12 months. The program will be split into two different streams – one for earlier-stage startups which have secured no more than £1m in funding, and another for more advanced ventures with more than £1m already locked in.
More than free advice
Addleshaw Goddard head of fintech Fiona Ghosh hopes that the firm’s emphasis on mentoring will help set its fintech support program apart from others launched at rival firms: ‘We don’t want to just jump on the FinTech bandwagon and entice firms with a bit of free legal advice. We want to be at the heart of helping firms we work with to be a success,’ she said. ‘FinTechs often come to market quickly and need nimble advisers that they can work collaboratively with, who are responsive, as well as people they can talk to, who can offer guidance and support, rather than just providers of hard-edged legal advice.’ Simmons & Simmons announced the launch of its own fintech support fund in May this year, with Slaughter and May unveiling its own offering for fintech startups just last week.
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