ILS ProVision
ProVision by ILS provides a centralized platform for private investment funds and law firms to manage side letters, most-favored-nation (MFN) processes, and investor comment workstreams. The platform automates the structuring, redlining, and comparison of investor provisions, enabling teams to compile virtual Master Side Letters and run MFN elections end-to-end. It is trusted by leading fund formation practices at firms like Goodwin and Proskauer Rose.
- Artificial Intelligence
- Financial Technology
- Legal Technology
- Software Only
Funding
Founders
Product
Problem
Private investment funds and their legal counsel manage complex, high-volume side letter obligations, MFN processes, and investor comment cycles using manual, error-prone workflows. These processes are fragmented across documents and systems, creating inconsistency, compliance risk, and significant administrative burden for legal and fund operations teams.
Solution
ProVision by ILS provides a single, structured platform for managing all legal obligations and investor relationships across a fund's lifecycle. The platform automates the extraction and structuring of provisions from side letters and master documents, enabling teams to compile a virtual Master Side Letter. It standardizes and redlines provisions across investors to identify differences, and it runs the MFN process end-to-end with built-in anonymization, election form generation, and response management. This creates a single source of truth for investor terms, reducing manual review and ensuring consistency across complex fund structures.
Target Audience
Primary users are legal, compliance, and fund formation teams at private investment funds and the world's largest law firms, including practices at Goodwin, Proskauer Rose, and Ropes & Gray.
Features
- Automated extraction and structuring of side letter provisions, investor information, and exhibits into a clean, consistent format
- Provision redlining and comparison across investors to identify differences and merge similar language at scale
- End-to-end MFN workflow management with built-in anonymization, investor-specific election form generation, and response tracking
- Searchable repository across funds for investor provisions, grouped by related clauses
- Structured, auditable workflows for Comment Memos and ongoing investor obligations
- Platform supports global fundraising coverage across US, UK, EU, Middle East, and APAC