Milbank LLP advised LEA Venturepartner GmbH & Co. geschlossene Investmentkommanditgesellschaft ("LEA") in connection with the business combination of Aleph Alpha GmbH ("Aleph Alpha”) and Cohere Inc. (“Cohere”). The combined business will operate as Cohere, with dual headquarters in Toronto and Berlin.
The combination brings together two leading providers of enterprise AI to address growing demand for secure, compliant and sovereign AI deployments. Aleph Alpha has established a strong track record in supporting enterprises and public sector organizations with trusted AI solutions. Cohere complements these capabilities with its enterprise-focused AI platform and Command family of models, enabling organizations to deploy advanced AI within their own infrastructure while maintaining control over their data.
As an entrepreneurial equity partner, LEA supports founders and management teams in various development phases in their growth and the achievement of a leading market position. LEA has managed investments in numerous technology companies since 2002.
Financial terms were not disclosed. Completion remains subject to regulatory approvals.
The Milbank team that advised LEA on the corporate aspects of the transaction was led by partner Michael Bernhardt (Corporate/M&A, Frankfurt) and included associates Steffen Post and Maximilian Huber (both Corporate/M&A, Frankfurt).
