New business to be called MDR Taylor Vinters and will offer legal and consultancy services to innovators and entrepreneurs.
Mishcon de Reya and Taylor Vinters - a leading legal and consultancy business in the innovation economy - have today announced that they will be creating MDR Taylor Vinters, a new business that will offer legal and consultancy services to innovators and entrepreneurs and the organisations and ecosystem that support them. MDR Taylor Vinters will be led by the Taylor Vinters Management Team.
In its 10 year vision, Mishcon de Reya outlined its ambition to become technologically transformed as well as to be a disruptive innovator in legal and consultancy services. Over the past 5 years it has launched MDR Lab and invested in a number of legaltech start ups, created the M:Tech programme for early-stage tech companies, launched the Innovation department, launched legal technology consultancy MDRxTech and invested heavily in a data science capability that is being applied throughout the business especially in dispute resolution, client management and pricing. Taylor Vinters operates in the key UK innovation hubs of Oxford, Cambridge and London and represents both national and international clients. The business has been on a fast growth trajectory: in the past 3 years its revenue has grown by over 40%. In 2020 it completed more than 160 venture funding rounds and supported around 25% of seed stage equity funding in the UK. The core of the business is driven by a client base of venture backed and established corporates representing the breadth of the innovation economy from Oxbridge spin outs to global tech companies.
The strategic combination delivers on both firms' strategies to support the innovation economy and accelerate their growing share of the innovation, technology and life-sciences legal and consultancy services market in the UK and in key international innovation hubs globally. The long term vision of the Mishcon de Reya and Taylor Vinters teams is to establish the MDR Innovation Hub which will bring together MDR Taylor Vinters, MDR Lab, MDRxTech and utilise the data science expertise Mishcon has built into a centre of excellence for the innovation economy. The MDR Innovation Hub will be led by a combined Taylor Vinters and Mishcon management team.
Kevin Gold, Executive Chairperson of Mishcon de Reya said: "This strategic combination is the culmination of years of thinking about how best to develop our business in the innovation space. In our many conversations with Taylor Vinters this year, particularly with the management team led by Ed Turner and Matt Meyer and with its Partners, it was obvious that we share the same values as well as strategic business vision. They are focused, purpose driven and have been very successful in growing their business and brand in the innovation space."
Jeremy Hertzog, Chair of the Innovation Department at Mishcon de Reya added: "I am excited about what the future holds for us as we develop MDR Taylor Vinters and the Innovation Hub together and build a best in class Innovation offering across the Mishcon de Reya Group. This is a transformational moment for both firms."
Matt Meyer, CEO of Taylor Vinters commented: "We have been on a fast growth trajectory and are ambitious for what our business can achieve. It was clear from the first conversation with Mishcon de Reya that together we could create a platform to accelerate our shared strategy for the innovation economy and fulfil our ambitions."
Ed Turner, Managing Partner of Taylor Vinters added: "Their values are closely aligned with ours, they understand the needs of our clients and our business and the strength of our brand – as we do theirs. Combining our businesses enables us to accelerate our strategy and help more innovators and entrepreneurs shape a better world. It means we are able to invest and develop our core capabilities, retain and attract talent and innovate in our service delivery for clients."
Note: Mishcon de Reya LLP and Taylor Vinters LLP have entered into a combination agreement. While the two firms will continue as separate entities their intention, subject to obtaining the relevant permissions, is ultimately to operate within the same group structure.