Linklaters launches ground-breaking automation tool for fundraising deals

Linklaters has launched MFNiQ, a ground-breaking tool that has been built by the firm’s investment funds practice, technology and innovation teams in collaboration with iManage to automate the generation of ‘most favoured nation’ side letter matrices, reducing a task that could take several days to, in essence, the push of a button.

The tool has already been used in fundraising deals in London and New York with excellent client feedback and has now been rolled out across the firm’s investment funds practice globally, including in offices in the key financial hubs of Paris, Frankfurt, Luxembourg, Hong Kong and Tokyo.

Matt Keogh, global head of the Linklaters investment funds practice, commented:

MFNiQ is market-leading and it’s been welcomed by both our clients and lawyers alike. Up until now, creating ‘most favoured nation’ composites was a very manual, labour-intensive task for our people. The automation allows for these matrices to be prepared faster and more efficiently.
It increases quality and reduces potential for human error. Rather than the mechanical process, our lawyers can instead focus on matters which require exercise of judgment and experience. It’s a real step forward in showcasing how we are innovating for our clients.

Emily Harmsworth, Counsel at Linklaters who led on the development of the tool, added:

MFNiQ enables our lawyers to instantly compare all side letter clauses being negotiated on a fundraise, which increases efficiencies within our deal teams whilst also helping to reduce unnecessary drafting variances. The dedication and time from the teams involved in this project is a real testament to our innovative mindset and I’m excited that we have something incredibly valuable to offer our clients."

Nick Thomson, General Manager, iManage AI, commented:

Helping our clients automate laborious processes that get in the way of delivering great service is what we’re all about. We’re really delighted to have supported Linklaters and their intelligent approach to building the MFNiQ solution.”

Linklaters’ clients benefit from an unparalleled overview of the global investment funds market from the global investment funds practice. In 2020, the firm represented top tier sponsors who raised more than US$62bn across private equity, real estate, infrastructure and credit strategies and acted for the world’s largest cornerstone investors who committed more than US$20bn to 148 private funds and co-investments.

Learn more about MFNiQ here.