"You might know me as Mishcon..."
"...but my new friends call me MDR."
Mishcon de Reya will "combine" with Taylor Vinters to create MDR Taylor Vinters.
It is not a full merger as such, as Mishcon and Taylor Vinters will operate independently. A Mishcon spokesman confirmed to RollOnFriday: "While the two firms will continue as separate entities their intention, subject to obtaining the relevant permissions, is ultimately to operate within the same group structure. MDR Taylor Vinters will be separate to Mishcon de Reya LLP."
The news follows the firm's recent announcement to float on the London stock exchange.
The Mishcon group has set up various entities in recent years, with branded names that sound like they're based in a Shoreditch office with a fusball table, including MDRxTech which provides legal technology consultancy, and MDR LAB which invests in legaltech start-ups.
Mishcon de Reya (or "MDR" when its shooting the breeze in a beanie hat) said that the combination with Taylor Vinters was in line with "both firms’ strategies to support the innovation economy." The firm also highlighted Taylor Vinters' experience in start-ups, completing "more than 160 venture funding rounds and supporting around 25% of seed stage equity funding in the UK."
“This strategic combination is the culmination of years of thinking about how best to develop our business in the innovation space," said Kevin Gold, Chair of Mishcon. "In our many conversations with Taylor Vinters this year...it was obvious that we share the same values as well as strategic business vision. They are focussed, purpose driven and have been very successful in growing their business and brand in the innovation space.”
“Their values are closely aligned with ours, they understand the needs of our clients and our business and the strength of our brand – as we do theirs," said Ed Turner, Managing Partner of Taylor Vinters. "Combining our businesses enables us to accelerate our strategy and help more innovators and entrepreneurs shape a better world.“
Mischon also recently announced that it is partnering with Harbour, a litigation funder, to create MDR Solutions I. The venture will run separately to the firm, and invest in prospective cases for Mishcon's clients. The firm has taken on some big litigation cases in recent years, including acting for Gina Miller on her successful challenge to the government's attempt to trigger Brexit without parliamentary approval. A case which keeps giving (for news stories at least).
"For some time, we have been assessing the litigation funding market and exploring potential opportunities," said Gold. "Creating a strategic partnership with Harbour enables us to deliver on our objectives with one of the most respected litigation funders in the world. We hope that MDR Solutions I is the first of a series of similar ventures in the future."