Hedge funds and institutional investors are financing the latest wave of IP lawsuits.
This deal was dreamed up by Robert Kramer, who founded Altitude in 2005, raising $250 million from hedge funds and others to invest in intellectual property. So far Kramer has put $100 million to work in nine investments. He's got plenty of company in this new game. Coller Capital, a London private equity firm with a $2.6 billion fund, quietly formed Coller IP Capital with an eye toward investing $200 million a year. Rembrandt IP Management, a Bala Cynwyd, Pa. firm, has raised $150 million, and Northwater Capital, a $9 billion Toronto manager of funds of hedge funds, put together NW Patent Funding last year. Both exist solely to exploit patent lawsuits in the U.S.
Sounds a lot like patent trolling...
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