Linklaters partners with SoftBank

Linklaters partners with SoftBank

Diversity-led accelerator programme to be the key focus

UK's Magic Circle firm Linklaters has become a strategic partner on SoftBank's Vision Fund Emerge 2021 programme. It intends to promote diversity in technology by supporting under-represented startup founders.

The Japanese conglomerate's Vision Fund is the world's largest technology investor, with over $100 billion of capital, and investments ranging from early-stage startups to established giants like Uber and ByteDance.

The Emerge programme began in Europe this year following its launch in the US last summer. It offers founders capital, tools and a network to help them scale their business. Nine European start-ups have been selected for this year, each with at least one founder identifying as a non-white, a female, an LGBTQ+, and a disabled/or a refugee.

The unit's founders will take part in an eight-week programme with mentoring and training from European venture capitals, including SoftBank Investment Advisers (SBIA), Speedinvest, Breega, Cherry Ventures, Firstminute Capital and Kindred. The topics would include hiring, culture and engaging with investors.

Founders will also receive access to SBIA and partner funds' operating professionals and will network with other entrepreneurs from across SoftBank's ecosystem of more than 300 technology-led companies.

The start-ups will receive technical advice and insight from Linklaters, which will work with the founders to provide a framework to address legal and commercial issues relevant to their business in the early stage of development. This will enable them to tap into the Linklaters' experience and access its resources.

Among those heading Linklaters' role in the programme are Alexandra Beidas, partner and global head of employment and incentives, and corporate partners Stuart Bedford and Lisa Chang.

Beidas commented: "We are excited to be taking tangible action to create a more equitable ecosystem for the wealth of the under-represented talent and ensuring that marginalized entrepreneurs get access to the tools and required backing. We look forward to working with such an impressive cohort of founders with the potential to be major disruptors in established markets and supporting them in their journey."

The group is made up of start-ups in industries ranging from med-tech and financial services to life insurance. It includes a business attempting to build open finance rails for Africa's digital economy.

The programme will culminate with an event in December when companies will pitch to a group of European investors to secure further funding in addition to the capital raised through Emerge.

In May, Linklaters announced that it had elected the global head of its corporate practice, Aedamar Comiskey, as the firm's first female senior partner in its almost 200-years history.

Comiskey's appointment followed a run of women being named to top leadership positions in prominent firms in the US and the UK.