ANDOVER, Mass., Jan. 8, 2008 (PRIME NEWSWIRE) -- The Vallex Fund (www.VallexFund.com), a wholly owned subsidiary of Vallex Investments, Inc., a private investment company, announced today its formation as a new investment fund exclusively targeting the legal services market. The fund's charter is to encourage entrepreneurship and innovation within the legal profession through early-round investments in companies targeting the legal sector.
"We believe that there is strong pent-up demand within the legal services market for more accountability, transparency, productivity, and innovative competition," commented Ronald Gruner, president of The Vallex Fund. "Our motivation, of course, is to capitalize on that demand, but to do so by helping our civil litigation system become more efficient, less expensive and more broadly available when needed."
Conceptual Basis for the Fund's Formation
The Vallex Fund will encourage entrepreneurs to consider the legal industry as a major, new opportunity. "Big Law" alone is a $100 billion industry whose clients are increasingly dissatisfied with the ever increasing costs of legal services. This is not a new trend. Over the last forty years many studies and surveys have been conducted chronicling the problems, inefficiencies and even abuses within the nation's civil law system. Yet many, both inside and outside the legal profession, believe improvements have been far too slow in coming. A new approach is needed. As experienced entrepreneurs, the Vallex Fund's management and investors believe an entrepreneurial approach can help expedite change and fresh thinking as it has so successfully done in other industries.
The conceptual basis for The Vallex Fund was developed in a white paper, A Call for Legal Entrepreneurship (http://www.VallexFund.com/download/), which documents the financial and competitive pressures many observers believe are adversely affecting the legal profession. By way of possible example of these issues the paper includes a detailed case study of a multi-million dollar federal lawsuit, a discussion of the issues surrounding self-regulation within the profession and concludes with examples of how innovative new companies may help correct many of the problems identified historically within the legal literature.
Additional Information
Vallex Investments, Inc. was founded by Ronald Gruner in late 2007. Ron has been an entrepreneur nearly his entire career. His former company, Shareholder.com, an early advocate for better shareholder communications, was acquired by The Nasdaq Stock Market in January, 2006. Additional information on The Vallex Fund can be obtained via the Internet by visiting: http://www.VallexFund.com.