Clifford Chance

Clifford Chance first law firm to join R3’s Venture Development Program

Leading international law firm Clifford Chance has joined enterprise software firm R3’s Venture Development program, an accelerator program for early-stage start-ups building on its platforms. The firm joins the program as the first start-up advisor from the legal industry, committing to mentor R3’s portfolio of early-stage companies building on its trust technology.

R3’s Venture Development program has produced many successful, production-ready start-ups building on Corda, or “CorDapps.” The program works to ensure start-ups building on R3 trust technology are best situated for success. R3 leverages its global network of 200+ start-up mentors, VCs, and service providers to add value to its start-up community.

In 2018, Clifford Chance joined R3's Legal Center of Excellence to gain insight into the development, application and uses of blockchain technology in the financial services industry and other areas of commerce, and has advised financial technology firm HQLAx on the first live securities lending transaction settled using R3’s Corda blockchain platform. The firm also advised HQLAx this year on its EUR14.4 million Series B funding from BNY Mellon, Goldman Sachs, BNP Paribas Securities Services, Citigroup and existing shareholder Deutsche Börse Group.

Global Co-Head of Clifford Chance's Tech Group Paul Landless said: “To be supporting ambitious start-ups with R3 at the forefront of industry is incredibly exciting. This is a privilege for our global Tech Group and we can't wait to see the impact of helping to grow these novel businesses via the Venture Development program.”

David Vatchev, Head of Global Venture Development at R3, commented: “R3 is thrilled to welcome Clifford Chance’s Tech Group to the Venture Development ecosystem. This collaboration with a global powerhouse law firm will add a whole new avenue of programming for our start-ups to leverage as they continue building.”