Covenant and Emma Legal Partner to Transform How Venture Deals Are Done

AI-powered collaboration accelerates deal velocity without sacrificing quality.

Covenant, the first AI-native law firm focused on private markets, and Emma Legal, the AI-powered legal due diligence workspace, announced today a strategic collaboration to modernize the legal workflow across the full life cycle of venture deals, from term sheet to negotiations and from diligence to funding, making transactions faster, more accurate, and more cost-effective.

Both start-ups and venture capital firms want early-stage deals to move fast, but the legal work often cannot keep up the pace. For many of these venture deals, document review and due diligence feel like a bottleneck: time-consuming, unpredictable, and expensive. Venture deals often don’t have the time, nor bandwidth to spend weeks in review and drafting as is the case for multi-billion-dollar transactions. On the flip side, VC firms do want legal assurance before signing a deal.

Covenant and Emma Legal recognized that legal workflows can be drastically shortened without sacrificing quality through an AI-first approach. Through their collaboration, they are making the process efficient and predictable, providing investors with fast, actionable insights into potential legal risks across every stage of a deal.

Covenant pioneered with an AI-powered investment review tool that streamlines document review and negotiation. Extending that approach, the firm now leverages Emma Legal to tackle a very time-consuming aspect of venture transactions being legal due diligence. Thanks to direct integrations with multiple leading data room providers, Emma Legal directly accesses the venture deal’s data source. From there it structures and classifies transaction documents, highlight risks, suggests mitigating actions and drafts an initial LDD report. The platform allows Covenant attorneys to review and assess legal risk more efficiently.

Rick van Esch, CEO, Emma Legal: “Covenant’s value proposition is one I deeply care about. For both the start-up founder and the investor nothing is more frustrating than having a handshake on a deal and a signature date that keeps dragging due to legal work.”

Jen Berrent, CEO, Covenant: “There is a misperception that high velocity in a venture deal can only happen at the expense of accuracy and completeness of the legal analysis. Having a well-engineered process for a specific use case like we co-developed at Covenant with Emma Legal allows for speed without losing any quality.

About Covenant
Covenant is the first and only AI law firm for private markets. Our mission is to integrate legal expertise and advanced AI so that clients can get deals done and get answers fast. With Covenant, investors dramatically reduce fees, increase transaction velocity, and unlock data insights across the investment lifecycle. Headquartered in NewYork, Covenant is led by Jen Berrent (former COO and CLO of WeWork) and Richard Perris (former General Counsel of CVC). The company is backed by Flybridge Capital Partners and serves many of the world's leading institutional investors. Visit www.Covenant.co for more information. 

About EmmaLegal
Emma Legal exists to solve one of the most persistent challenges in M&A: the tension between speed, accuracy, and depth in legal due diligence. We eliminate that trade-off with an AI-powered workspace purpose-built for legal due diligence, transforming complex data rooms into clear, structured, and reliable insight. Legal deal teams instantly see what’s reviewed, what’s missing, and where risk concentrates, cutting manual review time by more than 50% and freeing lawyers to focus on what matters most: sharper analysis, stronger negotiation positions, and better deal outcomes. Backed by 6 Degrees Capital and Entourage Capital, Emma empowers legal M&A professionals to negotiate better deals, faster and fully informed.