Third-party litigation funding has jumped into the mainstream of financial investments with the first admission to AIM of a specialist litigation fund.
Juridica Investments, founded by two US lawyers, will invest in claims of more than $2m (£1.01m), mainly focusing on US-based litigation and international arbitrations.
Norton Rose dispute resolution partner Sam Eastwood said: "The launch serves as further reinforcement that the litigation market's going to be going through quite a change - and not just in the UK." Juridica has an investment management arm that will locate and vet cases that could be funded. It will
also use around half of its £78.4m IPO proceeds to make loans to firms where direct investment is not permitted or wanted by plaintiffs. One such firm is Washington DC-based Fields & Scrantom, owned by Juridica's founders Richard Fields and Timothy Scrantom. The biggest single investment or loan it will make will be $10m (£5.06m), unless its board gives special approval. Although initial cases will be US, the company hopes to invest in cases in other jurisdictions.
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