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Legal Tech Platform Taps VLP Partner for New Chief Legal Role

Nov. 1, 2019, 3:45 PM

Reynen Court, a legal technology platform backed by a group of 18 law firms, has hired Martin Levenglick as chief legal officer and head of corporate development.

Levenglick, a corporate partner at the VLP Law Group in New York, joins the Amsterdam-based outfit just after it launched in beta testing mode. In September, Reynen Court tapped Bridgewater Associates deputy general counsel Sylvia Khatcherian to serve on its board of directors.

Andrew Klein, a former Cravath, Swaine & Moore associate-turned-serial entrepreneur serving as founder and CEO of Reynen Court, said in a Nov. 1 statement that Levenglick’s hire will help his project work with law firms and application vendors to devise a new contracting model for the derivatives industry.

“We expect Martin will greatly accelerate our ability to take costs and time out of contracting for new legal technology,” Klein said. “And his steady and experienced hand helping to guide us in future financing activities, the pursuit of strategic alliances, and other key corporate and transactional opportunities will be enormously valuable as we continue to grow.”

Reynen Court said that Klein and Levenglick worked together more than 20 years ago when the latter was a partner at Orrick, Herrington & Sutcliffe in New York.

Levenglick served as outside finance counsel to Klein’s first technology company, Wit Capital Group Inc., an internet-based investment bank that sold a stake in itself to The Goldman Sachs Group Inc.

While a partner at VLP, Levenglick also advised Reynen Court on its Series A financing led by Clifford Chance and Latham.

“Over several decades I have watched with pride as a series of companies Andy created applied technology and innovation to take costs out of traditional business functions,” said Levenglick in a statement. “Reynen Court has the potential to play a profound role in the modernization of the legal industry. I am thrilled to become a member of what by any measure is an extraordinary team.”

Clifford Chance and Latham & Watkins are serving as co-chairs of Reynen Court, which is looking to develop an “app store” that will allow law firms and in-house legal departments to purchase software products.

Other law firms in the pilot program include Paul, Weiss, Rifkind, Wharton & Garrison, as well as Cravath, Covington & Burling, Davis Polk & Wardwell, Freshfields Bruckhaus Deringer, Linklaters, and Ropes & Gray.

Levenglick has worked at VLP since 2012 when he came aboard from Morrison Cohen, a New York-based firm he joined five years prior following the collapse of Heller Ehrman.

Levenglick spent nearly two years at the now-defunct firm, which hired him in 2005 from Orrick, where he served as co-head of that firm’s New York corporate practice. Levenglick began his legal career in 1979 at O’Sullivan Graev & Karabell, making partner in 1985. (O’Melveny & Myers absorbed O’Sullivan in 2002.)

Orrick is part of an expanding law firm consortium backing Reynen Court’s push into the legal tech space, as are Cleary Gottlieb Steen & Hamilton, Debevoise & Plimpton, Gibson, Dunn & Crutcher, Simpson Thacher & Bartlett, Skadden, Arps, Slate, Meagher & Flom, Slaughter and May, Weil, Gotshal & Manges, and White & Case, as well as Los Angeles-based alternative legal services provider Elevate.

Paul Greenwood and Kenneth Heaps, the chief information officers at Clifford Chance and Latham, respectively, are also members of Reynen Court’s board.

To contact the reporter on this story: Brian Baxter in New York at bbaxter@bloomberglaw.com

To contact the editor responsible for this story: Seth Stern at sstern@bloomberglaw.com