Press — The Barrister Group
Summary
Barristers chambers secures private equity investment from LDCTechnology and flexibility an advantage for the "21st century Bar"The Barrister Group (TBG) has secured private equity backing from LDC in what is believed to be the first such investment in the Bar of England & Wales.The eight-figure minority investment in TBG, which is the umbrella group for well-known legal brands, including Clerksroom Chambers and Clerksroom Direct (direct access), will see LDC support the groups growth in the legal sector as it looks to attract more barristers and instructions with its tech-enabled alternative chambers model.Supported by advanced technology in its innovative, proprietary Chambers365 management software, TBG gives barristers choice over their working patterns and operates on a remote basis without the need for a physical chambers, offering more flexibility and a high-quality service at an efficient cost to practitioners.Welcoming the investment, Stephen Ward, co-founder of TBG, said: "Since we began back in 2001 as Clerksroom weve wanted to make a difference to the way the Bar operates. This investment and LDCs value-add support will enable us to expand and develop as a business and a set, giving greater access to the profession for those less inclined towards the older chambers model. It will be used to support and advance the practices of existing members, to develop and grow specialist practice groups, to increase opportunities for those practising or seeking to practise at the Bar, to encourage and make it easier for members of the public to use a barrister, and to further develop the underlying legal technologies to support these objectives.Stephen Ward added: The immediate future for TBG is bright with barristers of all levels of experience increasingly preferring the newer, more efficient model that TBG has come to represent, while at the same time solicitors are becoming familiar with the benefits offered by TBG to them and their clients.From a direct access point of view, most people and businesses are simply not yet aware that they can access legal services directly from expert barristers. The Barrister Group will look to change that perception.Oliver Schofield, Investment Director at LDC, added: The team at TBG is bringing disruptive tech-enabled solutions to the legal market in a move that offers greater flexibility and alternative ways of working for the Bar, whilst importantly improving access to justice for the public. TBG has the potential to revolutionise the future of the Bar by offering a real alternative to the traditional chambers model and were excited to support the team as they continue to pursue their growth plans.