Oakley Capital has agreed to sell legaltech platform vLex to Clio, a global legal technology provider based in Canada, in a transaction that values the business at $1bn.

The deal marks a major exit for Oakley Capital Origin Fund, which will reinvest in the combined entity alongside vLex’s founding team.

Oakley first invested in vLex in 2022 to accelerate its international growth and AI development. Working closely with co-founders Lluís and Angel Faus, Oakley supported the strategic acquisition of Fastcase in the US, which helped double vLex’s revenues. The company further scaled its technology offering in 2024 with the launch of Vincent, an AI-powered legal workflow platform.

The transaction positions vLex among the few Spanish tech companies to achieve unicorn status. The company now serves a majority of the Am Law 100, having evolved from a legal research database into a fully-fledged software platform under Oakley’s ownership.

Clio, which provides case management, billing, payments, e-filing, and AI-driven productivity tools to more than 200,000 legal professionals across 130 countries, will integrate vLex to create a unified legaltech offering. The combined business aims to deliver a comprehensive platform for law firms, with strong cross- and up-selling potential as digital adoption accelerates across the legal services sector.

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