European Funding Predicted To Account for 15% Of Global Market By 2025
While the US and UK are most often in the news for their high profile litigation funding cases, the European continent is seeing an equally impressive rise in the number of funding agreements, and there is plenty of reason to expect this upward momentum to continue. New research and analysis from Deminor, the global litigation funder, suggests that in the next five years, the European market alone could see annual growth of 8.3% and account for 16% of the world’s litigation funding market by 2025. In a feature for The Global Legal Post, Erik Bomans, the CEO of Deminor, speculated that this rise would be driven by a combination of factors including economic instability, a rise in shareholders holding companies to account over ESG targets, and human rights violation claims. Going beyond the growth in funding itself, Mr Bomans argues that this increased volume in the number of cases will likely be accompanied by a more significant proportion of successful claims by litigants, as the breadth of legal advice available is widened. In addition to this booming market share, it is also expected that we may see a broadening of the number of jurisdictions in Europe that will see an increased uptake in third-party funding. Lianne Craig, the managing partner of law firm Hausfeld’s London office, highlights that the firm has seen real interest and engagement from funders towards participating in previously underserved markets such as Italy, Portugal and Spain.