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Member Spotlight: Lumenci

Lumenci is a renowned full-service IP consulting firm dedicated to extracting maximum value from IP assets and providing technical, valuation, and strategic advice to patent owners and law firms to drive successful results.

With a global footprint spanning Austin, New York, San Francisco Bay Area, and New Delhi, India, Lumenci gathers over 100 technical and valuation/damages experts under one roof. This full-service IP consulting firm empowers companies to maximize the value of their IP assets through a blend of domain expertise and advanced automation technologies. A prolific team of Patent Monetization Strategists, Due Diligence Technologists, and Litigation Discovery Experts enables Lumenci to assist clients as a comprehensive global partner in high-stakes patent monetization and IP litigation campaigns.

Lumenci's expertise lies in understanding complex technology, analyzing patent claims and identifying underlying technological nuances. With a successful track record, Lumenci has analyzed over 60,000 patents, meticulously tested 900+ products, and investigated more than 175 litigations across ten global regions, from the US and UK to China and India. Their dedication extends to both plaintiffs and defendants, consistently securing favorable outcomes like settlements and verdicts. Lumenci's work has saved clients a staggering $3 billion in verdicts, settlements, and cost savings. The firm's team of experts possesses deep domain knowledge in various complex technology areas, including software, cloud computing, codecs, artificial intelligence, telecommunications, and hardware.

Among its technological clients, Lumenci stands out as a reliable partner looking to maximize the value of their intellectual property portfolios. The firm's commitment to delivering customized solutions, leveraging cutting-edge technology, and maintaining a deep understanding of the IP landscape has resulted in successful customer outcomes.

Company Website:  www.lumenci.com

HQ - Austin: 901 South Mopac Expressway, Building 1, Suite 300, Austin, TX 78746, USA

Member Bios

Harish Daiya is the Co-Founder and Chief Executive Officer of Lumenci. He is based out of Austin, Texas and oversees the company’s operation across all global offices. With over 15 years of industry experience in technical consulting in IP litigation and licensing, Harish has been a part of $2B+ in IP value creation. He is also a member of the Forbes Business Council, where he regularly writes Thought Leadership pieces and shares ideas on global impact. Harish has also been a serial entrepreneur and angel investor for several successful startups. As the CEO, Harish is elemental in driving Lumenci’s vision, goals, sales, and revenue. He oversees organizational growth, business strategy, people culture, client relationships, business development, strategic partnerships, and launching new businesses. Kalyan Banerjee is the Co-Founder and Chief Growth Officer of Lumenci and operates out of Lumenci’s head office in Austin, Texas. Kalyan is a thought leader to reckon with for patent, source code analysis, and blockchain issues, where he is regularly invited as a speaker in several US universities and industry panels. He is also a testifying expert in source code matters at ITC, District Courts, and Arbitration and has been a part of IP litigation and licensing outcomes amounting to $2B+. He is instrumental in shaping the fundamental mission and principles at Lumenci. As the Chief Growth Officer, he is involved in growth strategy, technical delivery and consulting, business development, key partnerships, and organizational culture. He has been a mentor to several startups and has successfully built and scaled many consulting teams.

Deepak Patnala is the Senior Vice President and Head of Corporate Practice at Lumenci, operating out of San Francisco Bay Area Office. Deepak oversees Patent Monetization and M&A practice at Lumenci and is a trusted advisor to clients, helping them navigate complex intellectual property matters. He is a world-class technical expert in IP licensing and litigation matters and an upcoming testifying expert. He has 12+ years of experience providing technical support in high-stakes IP litigation and monetization matters. He has assisted various organizations, from corporations and law firms to high-growth emerging companies, in solving issues, creating value, maximizing growth, and improving business performance for their intangible assets. He has experience working across multiple technology domains such as cloud, OTT, cryptography, enterprise software, computer security, artificial intelligence, virtual and augmented reality, internet technologies, telecom, networking, etc.

Vamsi Krishna is Senior Vice President & Head of Litigation Practice at Lumenci and operates out of Lumenci's head office in Austin, Texas. He oversees Lumenci's IP Litigation practice and is responsible for customer relationship management, account growth, and elite delivery in high-stakes patent monetization and litigation matters. He has 12+ years of experience in IP consulting, technical discovery, and leading technology consulting teams in major patent litigations in the US. He is a world-class technical expert in IP litigation matters and an upcoming testifying expert in Telecom, Networking, Hardware, and Software. He has extensive source code review and expert report drafting experience in major litigations. He is proficient in navigation, mapping, mobile, user interfaces, streaming, security, DRM, databases, and other technologies. Vamsi has also provided a declaration in the EDTX patent litigation matter.

Areas of Focus:  Monetizing IP assets

Over the years, Lumenci has showcased its proficiency and added value in crafting multiyear, multi-geography, and high-opportunity patent monetization campaigns through adept capabilities in technology analysis, valuation, and business strategy domains for its clients.

Lumenci is proud to have a multi-faceted team skilled in diverse areas such as - reverse engineering, product testing, and EoU creation. Lumenci empowers clients to navigate the complex patent landscape confidently, prioritizing empowerment over mere numbers.

Lumenci tailors monetization strategies for inventors and companies with portfolios of any size, from solo innovators with five patents to industry giants with 30k+ Patents. Their expertise has driven impactful results of multi-million-dollar licensing deals for their clients. Whether through licensing, sale, or litigation, Lumenci illuminates the path to maximizing patent value for each client. The team utilizes proven techniques to uncover high-value patents, build comprehensive evidence for campaigns, and provide strategic insights. With a track record of 20,000+ patents mined, 25,000+ EoUs created, and $3 billion+ in client outcomes, Lumenci delivers tangible results.

Underlining Lumenci's impact and value, one of the leaders of a software technology patent portfolio holding firm mentioned - "I recently had the pleasure of working with Lumenci, and their technical patent support was outstanding. We are monetizing a networking-based patent portfolio, and Lumenci's expertise and guidance were crucial to our success. They helped us to identify the most promising infringement reads, provided valuable insight into the patent landscape, and were always available to answer our questions and offer advice."

End to End Support for IP Litigation

Lumenci stands out as an end-to-end partner for patent litigators, offering a potent blend of expertise and strategic support throughout the litigation. Lumenci's dedicated team of specialists delves deep into the technical complexities, particularly excelling in the high-stakes arena of code review matters, covering a spectrum from UI code to hardware code. Lumenci's expertise in different aspects of litigation-related activities enables legal teams with strategic insights and technical acumen critical for navigating the dynamic realm of IP litigation.

The company's proficiency extends to product testing, reverse engineering (in domains such as semiconductors), and meticulous research in creating high-quality Evidence of Use (EoUs) that maximize patent value. Lumenci assists in the pre-filing stage by valuing patent assets, conducting venue analysis, and offering a turnkey solution to satisfy Rule 11 requirements, and also works towards providing technical support to damages valuation such as testing, non-in figment alternatives, apportionment, etc. Lumenci is a strong technology partner during the discovery process, handling end-to-end source code discovery, product testing, and updating contentions with the most recent technical evidence. But the journey doesn't end there. Lumenci provides real-time technical assistance during Markman hearings, depositions, and trials to maximize your chances of securing favorable judgments.

As a testimony to Lumenci's high-quality support in IP litigation, one of the counsel members of a US law firm mentioned - "We recently wrapped up the deposition, and I am thrilled with the valuable testimony we from your team. As we gear up for numerous depositions over the next three weeks, I am eager to designate you as our preferred drafter for several of similar requests. Kudos to the Lumenci team for a job well done!"

Connect with Litigation Funders

Lumenci transcends litigation support, offering additional avenues for maximizing the value of patents. The company's patent purchase network connects patent stakeholders with potential buyers, pools, and licensees, opening up alternative monetization pathways. For those seeking financial leverage, Lumenci's financing solutions tap into their established network of financing entities, crafting innovative strategies to unlock the full potential of the patent portfolio.

Through a cooperative exchange, Lumenci offers valuable advice on opportunities around seeking trusted funders while taking a proactive stance in pinpointing avenues for value generation. Lumenci's consultative methodology extends beyond traditional client-firm interactions, nurturing a flexible and responsive association that adjusts to the ever-evolving demands of its clients within the dynamic domains of patent law and intellectual property.

Commercial Deals

Deminor Funds French Class Action Representing 6,200 Investors

In the world of litigation funding for class actions, the American, Australian, and British jurisdictions tend to dominate the headlines. However, as many industry analysts have predicted, the potential for growth in European actions remains high, as reflected by Deminor’s announcement that it is funding a large investor-led class action in France. A post from Deminor reveals that the litigation funder is financially backing a French class action being brought on behalf of over 6,200 investors, who allegedly suffered financial losses from investments in funds managed by H2O AM. The asset management company was fined €75 million by French regulators in January 2023, over charges that H20 AM had breached rules regarding illiquid investments. The class action is seeking €717 million of damages to compensate the investors. The Collectif Porteurs H2O, which represents the investors in the class action, filed its claim before the Paris Commercial Court in December 2023. At the time of the filing, the group’s chairman, Gérard Maurin stated: “We would like to take this opportunity to thank the team at Deminor for their incredible support in processing the claimants’ files and funding the legal initiatives undertaken by the association on behalf of its members.” Deminor provided a joint statement from Edouard Fremault, head of investment recovery, and Olivia de Patoul, General Counsel France:  “We look forward to further helping the thousands of people who have suffered substantial losses on their H2O investments. We would like to extend our thanks to the entire team who have worked on the case at Deminor and to the tireless efforts of the association Collectif Porteurs H2O and its counsel Dominique Stucki as they seek to bring justice for the 6,200 plus claimants they are acting on behalf of.”  Deminor’s announcement also noted that the class action is still open for H20 AM investors who have not yet joined the claim, and encouraged any potential class members to register on the association’s website.
Commercial Fundraising

Parabellum Capital Closes $754 Million Litigation Fund

As the litigation finance market continues to become more competitive, funders who consistently raise capital at a large scale are solidifying their position atop the industry. New York-based Parabellum Capital has made a definitive statement about the firm’s strength, with the close of its largest litigation fund yet.  Reporting from Bloomberg Law covers the news that Parabellum Capital has closed on a $754 million litigation finance fund, with at least two-thirds of that capital reportedly already committed to 50 investments.  Speaking with Bloomberg Law, Parabellum’s CEO and co-founder, Howard Shams said that litigation finance “is moving out of infancy and moving into a state of maturity,” and explained that serious investors “can recognize this as a way to make money over and over again with excellent results.” Commenting on the strength of Parabellum’s position in the market, Rebecca Berrebi, litigation finance broker and consultant, stated that “the proof of their success is in their ability to fund-raise large amounts.”  This impressive fundraise is one of the largest ever reported in the litigation finance market, and marks the third such fund that Parabellum has closed, following its first two litigation funds that closed for $166 million $465 million, respectively. According to Bloomberg Law’s reporting, Parabellum’s first fund financed 55 investments, with the firm later selling about half of the original investments in a secondary market deal. The value of that transaction reportedly reached nine figures, with Shams stating that “nobody’s done a secondary trade of that size.”
Announcements Commercial Fundraising

Burford Capital Announces Pricing and Upsizing of Private Offering of Senior Notes

Burford Capital Limited ("Burford" or "Burford Capital"), the leading global finance and asset management firm focused on law, today announces the pricing of its private offering of $275.0 million aggregate principal amount of additional 9.250% senior notes due 2031 (the "Additional Notes") by its indirect, wholly owned subsidiary, Burford Capital Global Finance LLC (the "Issuer"), which represents an increase from the previously announced offering size. The Additional Notes will be guaranteed on a senior unsecured basis by Burford Capital as well as Burford Capital Finance LLC and Burford Capital PLC, both indirect, wholly owned subsidiaries of Burford Capital (such guarantees, together with the Additional Notes, the "Securities"). There is $400.0 million aggregate principal amount of the Issuer's 9.250% senior notes due 2031 (the "Initial Notes") outstanding as of the date hereof. The Additional Notes will initially be offered to investors at an offering price equal to 103.625% of the principal amount thereof, plus accrued interest from January 1, 2024, representing a yield to worst of 8.251%. The offering is expected to close on January 30, 2024. If issued, the Additional Notes will be issued as "Additional Notes" under the indenture pursuant to which the Issuer previously issued the Initial Notes, will have identical terms to the Initial Notes (other than with respect to the date of issuance, the issue price and the first interest payment date) and will be treated as a single class for all purposes under such indenture. Burford Capital intends to use the net proceeds from the offering of the Securities for general corporate purposes. The Securities have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act"), or the laws of any other jurisdiction and may not be offered or sold within the United States or to, or for the account or benefit of, US persons absent registration or an applicable exemption from registration under the Securities Act or any applicable state securities laws. The Securities will be offered only to persons reasonably believed to be "Qualified Institutional Buyers" within the meaning of Rule 144A under the Securities Act or non-US persons outside the United States pursuant to Regulation S under the Securities Act, in each case, who are "Qualified Purchasers" as defined in Section (2)(a)(51)(A) under the US Investment Company Act of 1940, as amended.
The LFJ Podcast

Episode 82: Stephen Kyriacou, Jr.

Hosted By Stephen Kyriacou, Jr. |
Our guest today is Stephen Kyriacou Jr., Managing Director and Senior Lawyer at Aon, in the Litigation Risk and Special Opportunities Groups. We spoke with Stephen about the range of products Aon offers, trends in the litigation insurance space, the challenges he faces as a legal insurance broker, and how he sees legal insurance and litigation funding evolving over the coming years. [podcast_episode episode="12450" content="title,player,details"]
Commercial Deals

Exton Advisors Announce Inaugural Singapore Litigation Funding Conference

In a post on LinkedIn, Exton Advisors announced the launch of its inaugural Singapore Litigation Funding Conference, set to take place on 7 March 2024. The litigation funding advisory company is working with David Grief, CEO of David Grief International Consultancy (DGIC), to deliver its first event covering the ‘increasingly thriving market’ for litigation finance in Singapore. Whilst the full event agenda has not yet been revealed, Exton Advisors confirmed the following speakers who will be taking part in the conference:
  • Calvin Liang, Advocate, Duxton Hill Chambers
  • Teck Wee Tiong, Partner and Joint Head of the Sustainability & Responsible Business Practice, WongPartnership LLP
  • Carolina Carlstedt, Investment Manager, Litigation Capital Management
  • Jasmine Chin-Sabado, Ministry of Law – Singapore
  • Hasan Tahsin Azizagaoglu, Associate, Bench Walk Advisors
  • Anthony Ellwood-Russell, Investment Manager, Omni Bridgeway
  • Timothy Cooke, Partner, Reed Smith LLP
  • Daryl Chew, Office Managing Partner, Three Crowns LLP
Commercial People Moves

Maurice Thompson Returns to HFW to Lead Global Litigation Funding Team

An announcement from HFW reveals that the law firm is expanding its operations in Australia with the appointment of Maurice Thompson as a partner in its Melbourne office, where he will lead the firm’s litigation funding practice. Thompson, who has joined the firm along with three of his colleagues from Clyde & Co., is a household name with 30 years of experience in complex disputes across Australia and the Middle East.  HFW’s announcement emphasised Thompson as ‘having the leading litigation funding practice in Australia’, with the firm keen to make use of his expertise in class actions and funded disputes in the region. Commenting on his move to HFW, Thompson stated: “I also look forward to leading HFW's global litigation funding team and assisting the firm and its clients in taking advantage of opportunities arising with developments in the litigation/disputes funding market internationally. The firm has an ambition to become a market leader in litigation/disputes funding and the opportunity to contribute to this initiative was a major attraction for me." HFW Australia’s managing partner, Gavin Vallely described Thompson as “an expert practitioner in the offshore energy, aviation, insurance, litigation funding and, more recently, autonomous ships and aircraft sectors.” Vallely further highlighted Thompson’s “vast experience managing large scale multijurisdictional arbitrations and litigation,” and explained that this latest appointment was a key part of HFW’s growth strategy in Australia. 
Announcements Commercial People Moves

IVO Capital Partners becomes the 8th member of the European Litigation Funders Association (ELFA)

The European Litigation Funders Association (ELFA) is pleased to announce that IVO Capital Partners, an independent French investment manager with nearly 10 years of active presence in the litigation funding industry, has joined ELFA. Paul de Servigny, manager of litigation finance strategy at IVO Capital Partners stated: “Active since 2014 we have witnessed firsthand the strong development of the litigation finance industry in Europe for claimants and lawyers seeking funding as well as for investors seeking different strategies and return profiles compared to typical illiquid offerings. Joining ELFA and being able to work with our fellow funders is the logical step as the market grows and further institutionalizes itself. We are very excited in actively participating to help guide and advise the various national and European institutions and governmental bodies who have shown, for good reason, more and more interest in litigation finance.” Charles Demoulin, Deminor’s Chief Investment Officer and ELFA Director, commented: “We are delighted to have IVO Capital Partners joini ELFA. Based in France, their team has extensive experience and expertise in litigation funding specifically bringing on board a French perspective. With IVO Capital Partners, we further increase the number of European jurisdictions being represented in the association. While litigation funding is a global phenomenon, the ability to acknowledge, understand and address the regional and local specificities from a legal and cultural perspective specifically in the EU remains a priority for ELFA and its members. We look forward to involving IVO Capital Partners in all our activities. We trust their contribution to ELFA’s mission, together with those of all existing and future members, will be highly valuable for the litigation funding industry and the legal community as a whole.” About The European Litigation Funders Association: ELFA was founded by three leading litigation funders with a European footprint, Deminor, Nivalion AG, and Omni Bridgeway Limited. ELFA was established to serve as the European voice of the commercial litigation funding industry. With the objective of representing the industry’s interests before governmental bodies, international organizations and professional associations, ELFA also aims to act as a clearinghouse and reference for relevant information, research and data regarding the uses and applications of commercial legal finance within the European continent. About IVO Capital Partners: Founded in 2012, IVO Capital Partners is an independent French management company specialized in various forms of corporate debt. They invest in listed and unlisted credit with a predilection for special situations offering yield premiums on international markets, particularly emerging markets and litigation finance. The company manages €1.3 billion in assets and employs around 30 people at its Paris offices.
Commercial Regulatory Issues

UK Justice Secretary says Government Will Reverse ‘Damaging Effects of PACCAR’

The biggest story from the UK litigation finance industry in 2023 was undoubtedly the Supreme Court’s ruling in PACCAR, raising the greatest challenge to the viability of the UK funding market in recent times. However, it appears that UK funders are now receiving support from the government, bolstered by awareness around the role of litigation funding in providing access to justice for the sub-postmasters in the British Post Office scandal.   In an article from the Financial Times, the UK justice secretary, Alex Chalk KC stated that the government “will be reversing the damaging effects of PACCAR at the first legislative opportunity.” This latest statement firmly establishes the government’s position with regard to the Supreme Court’s ruling, building upon its efforts to reduce the impact on UK litigation funding through the amendment to the Digital Markets, Competition and Consumers Bill (DMCC). The catalyst behind this definitive proclamation from the government appears to be the renewed public attention on the British Post Office scandal, in which litigation funding played a key role in allowing the former sub-postmasters to bring their claims against the Post Office. Alan Bates, from the Justice for Sub-postmasters Alliance, had once again highlighted the crucial support that third-party funding had played in his group’s fight for justice, describing it as an “essential financing tool.” Whilst the justice secretary’s proclamation will be well-received by UK litigation funders, it is not yet clear what concrete steps the government will be taking beyond the existing DMCC amendment. Gary Barnett, executive director of the International Legal Finance Association (ILFA), emphasized that the type of funding that supported the sup-postmasters “is now under threat,” and called for the government to move quickly to provide a legislative fix.