Personal injury claims lawyer Plexus Law is in talks to sell a significant stake to private equity.
The law firm has been talking to several firms, including Duke Street, the Sunday Times reported.
Plexus is hoping to take advantage of the Tesco Law, new legislation which allows firms to bring in outside investment for the first time.
A deal would make Plexus the first British law firm to be backed by non-qualified members of the legal profession.
Tim Oliver, senior partner at Plexus Law, said: "We are investigating [taking] private equity investment to see if that would help our business."
The Legal Services Act was due to be fully implemented in October, but has been delayed until the end of the year.
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