Entrepreneur First backs Ginie AI to turn term sheets into contracts.
Millions of businesses depend on contracts to make deals, but generating contracts remains slow and error-prone. At EF, we are excited about Ginie AI’s application of machine learning to this vital business function. Rafie, Nitish and Madeleine are a great team that marry Machine Learning with the financial and corporate law expertise to make this happen.
About Ginie AI
For any deal, signing the term sheet is an exciting moment. But after sending it to lawyers, it can take weeks to come back, plus a bill of thousands of pounds.
Ginie AI enable law firms to quickly convert term sheets into contracts. A first draft of a 100 page M&A contract would have taken days - it now takes seconds. To make this possible, the team use a new type of generative adversarial nets developed from their prior research. In addition, they have developed a patent-pending method to access highly confidential data for the first time.
Six world-leading law firms have agreed to share data, and three of these have progressed to trials. As their AI learns from the actions of lawyers, Ginie AI can create an unrivalled, “legal brain” that enables anyone to draft their own contracts.
About Entrepreneur First
Entrepreneur First runs full-time programmes that fund the most talented scientists, engineers, developers and industry experts to find a co-founder, then helps those teams grow their businesses and raise funding. We’ve built >100 companies worth >$1B so far.
We currently run programmes in London, Singapore, Berlin and Hong Kong.
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