Intelligent Legal Solutions (ILS) develops software that helps investment fund lawyers automate side letter and MFN workflows, with its ProVision platform designed to bring greater structure and visibility to post-close processes.
Intelligent Legal Solutions (ILS), a global legal technology company building automation software for investment fund lawyers, has secured a seed funding round led by Chicago Ventures, bringing its total funding to more than $3 million.
Founded in 2024, ILS was established to address the largely manual nature of post-close fund workflows, an area that has historically seen limited support from modern software. While working in the investment funds teams at firms including Goodwin and Proskauer, co-founders Fergus Plant and Jack McCarthy identified this gap and, together with Stefano Benigni, developed ProVision to introduce greater structure and automation to these processes.
ProVision enables private funds teams to manage side letters, and MFN processes more efficiently by consolidating side letters into a single system of record and converting negotiated terms into structured, searchable obligations and elections. The platform also streamlines MFN workflows by generating election forms that automatically track selections.
By incorporating AI capabilities and complying with SOC 2 Type 2 and GDPR standards, ProVision is designed to reduce manual tracking across emails and spreadsheets while supporting more consistent workflows. It also provides greater visibility into side letter obligations and elections throughout a fund’s lifecycle.
Since its launch, ILS has been adopted by more than 10 of the world’s largest law firms. ProVision has processed over 5,000 side letters across more than 450 matters and supported over $150 billion in fundraises.
The new investment will support further development of the ProVision platform as the company works toward its product roadmap for 2026.