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What should you expect to pay for legal fees to close a round of funding?

There are big city law firms and smaller shops, which leads to a range of closing costs. There are also different levels of complexity with a close based on each startup's history and structure. For a typical Series B round (where there is typical legacy Series A / Seed stuff to deal with) I'd like to know what is the rough range - is it (a) 30-50K, (c) 50-75K, (d) 75-100K, (e) $100-125K, or higher?

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Irwin Stein
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Irwin Stein Advisor
Very experienced (40 years) corporate,securities and real estate attorney.
The best money you will spend is to have a lawyer help you to negotiate the terms of the funding, not just close the deal. You may negotiate with a half dozen groups before you strike a deal. You should have a lawyer involved in the entire process. The cost depends on how much time is spent, where you are located and how much experience the lawyer has. I have been called in after the deal was struck many times. In almost every case the company had given up more than it should have and gotten less than they could have. There are a lot of ways to structure a financing. The people with the money usually are in the driver's seat. If you want a good deal have an experienced lawyer at your side.
Rod Abbamonte
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Rod Abbamonte Advisor
Co Founder at STARTREK / @startupHunter / @startupWay / @CoFounderFound / @GOcapital / @startupClub / @lastminute
From 3K
Isaiah D. Cooper
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Isaiah D. Cooper Entrepreneur
Principal - Cooper Law LLC, providing practical solutions for complex business transactions in New York & Connecticut.
I agree with Irwin Stein. That said the amount of legal fees may depend upon the size of the investment and how complicated the structure is to document. I believe a firm I worked for 15 years ago routinely charge between $25K and $40K for an investment transaction. However, I would be surprised if the market has not pushed that amount down, even for large firms. I can do a transaction for much less than that.
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