The private markets, inclusive of venture capital and private equity, represent $15.5 trillion in total assets undermanagement, according to PitchBook’s 2024 Annual Global Private Market Fundraising Report. All to say, by capital, the private markets control a vast swath of the US economy. They also have the potential to be a significant source of revenue for law firms.
How law firms can leverage PitchBook to find new clients faster
In the private markets, fast-growing companies that aren’t publicly traded give investors equity in their companies in exchange for the funding and mentorship they need to grow. These investors include VC firms, which invest in startups, and PE firms, which invest in more established companies.
These private companies regularly undergo mergers, make acquisitions, and navigate other complex organizational challenges—all events that necessitate legal counsel. With a detailed understanding of these private market activities, law firms can unlock a powerful, efficient way to discover new opportunities and win new clients.
With PitchBook’s private market data, law professionals can easily identify fast-growing companies and most-active investors. Then, with the information they need to reach out, they can connect with prospects, creating relationships that may open doors for future work. For example, it may benefit law firms to connect with VC and PE investors, so that when they’ve got portfolio companies in need of legal counsel, you’re top of mind.
But there’s even more on the table than that.
How leading law firms leverage PitchBook
In addition to finding new clients faster, law firms can use the PitchBook Platform to:
Provide even better counsel
Legal pros might offer their clients even better counsel—counsel that’s informed by the most comprehensive source for global capital market data. With best-in-class workflow tools, PitchBook empowers legal teams to conduct deep research and analyses of any industry and/or geography.
Track their competitors
Legal teams can leverage PitchBook to hone their business strategies. Digging into the data, they can extract insights from transactions that other firms are advising on, as well as the clients they’re representing. Law professionals can easily keep tabs on their peers, and dive into their histories to get a better feel for their strategies—and how to set their firm apart from the pack.
"We use PitchBook in one way or the other for many secondary transactions we look at. It is an important tool that supports us in our own underwriting of secondary deals."—Harris Isenberg, Competitive Intelligence Manager, Stoel Rives |
Enhance their existing network(s)
The PitchBook Platform provides legal pros with access to more than 4.3 million professionals—people working at leading accounting firms, lenders, and other service providers. Building relationships proactively with people who work in the private markets is an efficient way to find out about upcoming deals before the competition.
Reach out at just the right time
With detailed information on what companies are receive funding, legal teams can assess when those organizations are growing, have capital on hand to spend, and may need legal services on their road to expansion. Law firms can also use PitchBook to follow mergers, acquisitions, and infusions of debt to anticipate when companies are likely to undergo big changes.
Enform their strategies
Using the platform, legal teams can identify new industries, territories, and accounts to pursue based on where VC and PE firms are investing. Following VC and PE firms to see when they’re fundraising, investing, and exiting is key to knowing when they might need advisors to help facilitate these transactions.
To learn more about how PitchBook can help law firms win what’s next, explore how you can reach new clients and expand your practice with the platform. Download our PitchBook for Law Firms e-book to see which US-based law firms are already using PitchBook, learn more about our research process, and get more details on the robustness of our offerings.
