News and analysis dedicated to the commercial litigation funding sector including regulatory issues, case developments, funding activities, and more.

Deminor, a leading global litigation funder, is pleased to announce the successful completion of a EUR 100 million funding round. The proceeds will be used to support the continued expansion of Deminor’s litigation portfolio across its three core regions: Continental Europe, the UK and Asia.

Next to this major funding milestone, Deminor has also achieved the “Certified B Corporation™” status, becoming the first litigation funder outside the US to do so. This certification highlights the company’s commitment to high standards of social and environmental performance, transparency, and accountability.

1. Over the past few years, Deminor has significantly diversified its portfolio in terms of both claim types and geographic reach. Originally focused on securities actions for investors in Continental Europe, Deminor now finances a broad range of claims, including competition and antitrust cases, collective consumer actions and commercial litigation/arbitration throughout its three core regions: Continental Europe, the UK and Asia.

The firm currently funds 47 active cases and has funded a total of 85 cases across 23 jurisdictions. Notably, 78.8% of all concluded cases have resulted in positive outcomes for clients—reflecting Deminor’s disciplined case selection and prudent risk management approach.

Deminor also leverages a proprietary digital platform to deliver technology-driven solutions for managing mass claims in areas such as securities, antitrust, and consumer law.

2. The latest investment round of EUR 100 million, comprising equity, senior and junior debt, and asset-backed financing, includes participation from a diverse group of investors. These include Contingency Capital LLC (New York), which provided a EUR 72 million (USD 80 million) secured credit facility to the company, alongside finance&invest.brussels SA (backed by the Brussels regional government and local financial institutions), Stalusa (a Belgian family office), and Saffelberg Investments (a Belgian private equity firm). Existing shareholders, including Deminor’s management team, also participated in the round.

Despite challenging market conditions and regulatory uncertainty in 2023 and 2024, the legal finance sector remains resilient and is expected to record strong growth in 2025 and beyond. Key drivers include growing market awareness, restricted corporate credit access, and a rising number of collective actions by both businesses and consumers.

3. As the first litigation funder outside the USA to achieve B Corp certification, Deminor reaffirms its mission as a value-driven organization. High ethical standards have always guided its investment strategy, and the firm is proud to support claimants who might otherwise lack access to justice. Deminor believes this approach promotes a more balanced legal landscape and contributes to a fairer economy and society.

About Deminor: 

Founded in 1990, Deminor is a Band 1 Chambers & Partners international litigation funder with offices in Brussels, London, Hamburg, New York, Hong Kong, Madrid, Milan, Stockholm and Luxembourg. Deminor’s name, derived from the French ‘défense des minoritaires’, reflects its origins in providing services to minority shareholders. Deminor is still very much defined by the pursuit of good causes and its determination to restore justice for clients. 

Combining skill sets from 19 different nationalities and 22 languages, Deminor has actively supported cases in 23 different jurisdictions, including the Americas, the Middle East and offshore centres such as the Cayman Islands and Bermuda. 

In addition to funding one-to-one commercial claims, Deminor originates, syndicates and funds group actions. In 2018, Deminor was instrumental in securing the two largest securities settlements in Europe (EUR 1.4 bn in the Steinhoff case and EUR 1.3 bn in Fortis/Ageas).

Today, Legora announces an $80 million funding round led by ICONIQ and General Catalyst, with continued support from existing investors Redpoint Ventures, Benchmark, and Y Combinator. This latest round is a strong endorsement of Legora’s product quality, velocity and the remarkable traction it has achieved globally—underscored by its rapid progression from inception to Series B in under two years.

The deal comes as adoption of legal AI surges across the world. Legora is at the forefront of this shift – with lawyers across 250 firms and legal teams in 20 markets globally making daily use of its platform to review and research with precision, draft smarter, and collaborate seamlessly.

Legora operates out of New York, London, and Stockholm, with 100 employees drawn from some of the world’s leading global law firms and tech companies.

Max Junestrand, CEO and founder of Legora said: “The investment is a clear validation of the value our product is delivering to lawyers around the world. While we weren’t actively seeking funding, the strength of our growth, product, and client partnerships naturally attracted this backing, and I am ecstatic to have ICONIQ and General Catalyst with us on the journey as Seth and Jeannette join our board.

“This enables us to double down on what’s always set Legora apart — deep collaboration with our clients — and to scale innovation and accelerate product development, ensuring we leverage rapidly changing technology to meet the needs of the legal profession. We’re committed to building a product that not only solves today’s challenges but continues to adapt and deliver long-term value.”

Seth Pierrepont, General Partner at ICONIQ commented: “From our first conversation with Max and Sigge, it was immediately evident to us that they are building with rare clarity and velocity, creating a platform that doesn’t just fit into legal workflows — it elevates them, and understands the nuance and pace of modern legal teams. In just two years, they’ve delivered an enterprise-grade product that’s already trusted by hundreds of law firms and in-house legal teams globally. We’re proud to partner with Legora as they scale what we believe is a category-defining platform that’s reshaping how legal work gets done.”

Jeannette zu Fürstenberg, Managing Director and Head of Europe at General Catalyst said: “Legora is driving AI transformations in a highly specialized industry. With an outstanding product, rapid adoption by top-tier firms, and a founder who combines rare product instinct with exceptional execution, as we see it, Legora is redefining how legal work gets done. We’re excited to support Max and the team as they scale this category-defining platform.”

Legora’s collaborative approach to developing and embedding its AI underpins its success to date. More than just a platform, Legora is a true partner to clients, working alongside them from the first interaction to company-wide rollout and beyond. This ensures Legora’s solution is intuitively matched to client needs, and that engagement is broad and deep from day one; with the technology embraced by junior lawyers right up to managing partners across enterprises.

By building with lawyers, not just for them, Legora has accelerated adoption and delivered immediate value. Its AI platform is making a measurable impact at top law firms and in-house teams, powering multiple work-critical use cases and helping teams get to the heart of key issues in hours rather than days — enabling improved and more confident client responses with less write-offs.

Mary O’Carroll, Goodwin’s Chief Operating Officer commented: “Legora represents exactly the kind of strategic technology investment that keeps Goodwin at the forefront of legal excellence. We’ve been very pleased with the initial results we have seen since partnering with them in March, and we look forward to continuous improvement in how our lawyers use Legora to deliver legal services and insights to clients.”

Max Junestrand added: “AI, simply put, is a historic opportunity for legal professionals to get real leverage on their expertise and know-how. We have observed tasks such as reviewing data-rooms go from weeks to hours with no loss in accuracy – making human-machine intelligence and collaboration the de facto way of working. Both law firms and legal teams are already reaping the benefits of these advancements at scale.”

About Legora

Legora is the world’s first truly collaborative AI for lawyers serving over 250 law firms and in-house legal teams across 20 countries. Co-founded by CEO Max Junestrand and CTO Sigge Labor, Legora now has offices in New York, Stockholm and London and has raised $120M in funding to date. Legora works with prestigious clients such as Cleary Gottlieb, Goodwin and Bird & Bird – helping lawyers review, draft and work more effectively with AI. Legora.com

About ICONIQ

ICONIQ is a global investment firm catalyzing opportunity through extraordinary community. Our venture and growth investment platform partners with visionaries defining the future of their industries to achieve uncommon outcomes. Drawing on the wisdom and connectivity of our extraordinary community, we support our portfolio companies’ success at every inflection point, from early traction to IPO and beyond. Our robust portfolio includes Adyen, Airbnb, Alibaba, Alteryx, Automattic, BambooHR, Braze, Chime, Collibra, Coupa, Datadog, Docusign, Gitlab, Marqeta, Miro, Procore, Red Ventures, Relativity, ServiceTitan, Snowflake, Sprinklr, Truckstop, Uber, Wolt, and Zoom, among others. For more information, please visit www.iconiqcapital.com/growth.

About General Catalyst

General Catalyst is a global investment and transformation company that partners with the world’s most ambitious entrepreneurs to drive resilience and applied AI.

We support founders with a long-term view who challenge the status quo, partnering with them from seed to growth stage and beyond.

With offices in San Francisco, New York City, Boston, Berlin, Bangalore, and London, we have supported the growth of 800+ businesses, including Airbnb, Anduril, Applied Intuition, Commure, Glean, Guild, Gusto, Helsing, Hubspot, Kayak, Livongo, Mistral, Ramp, Samsara, Snap, Stripe, Sword, and Zepto.

Sauvegarder Investment Management, Inc (“SIM IP”), a Miami-based firm focused on intellectual property-based financing, investment, and monetization, today announced it has entered into a funding and strategic advisory agreement with Gene Pool Technologies.

Gene Pool Technologies (“Gene Pool”) focuses on the development, aggregation, and licensing of advanced extraction and processing technologies, with a particular emphasis on solutions applicable to the cannabis and hemp industries. Gene Pool’s intellectual property portfolio broadly covers innovations in plant extraction methods, equipment, and systems that enhance quality, safety, and efficiency for producers and manufacturers.

“We believe that Gene Pool brings a disciplined, technology-focused process to intellectual property licensing that aligns with SIM IP’s commitment to efficient and transparent value creation,” said Jennifer Burdman, Managing Director at SIM IP. “We look forward to collaborating to provide inventors with stronger protection and improved monetization opportunities, while offering industry participants with streamlined access to critical technologies through clear and equitable licensing terms.”

Erich Spangenberg, CEO of SIM IP, commented, “Gene Pool is leveraging two key services provided by SIM IP, which includes capital support through a corporate investment and unparalleled, strategic advisory expertise. Gene Pool strategically chose to leverage our capital for both litigation and the anticipated acquisition of additional intellectual property, as well as our extensive expertise in global intellectual property monetization to support execution and business strategy.”

Gene Pool partners with innovators and technology owners to ensure their innovations are protected, compensated, and accessible to operators through operator-friendly, non-exclusive licensing agreements. Gene Pool’s licensable portfolio includes  over fifty patent assets, with approximately half owned by Gene Pool and the rest being in-licensed from key market innovators.

“Gene Pool was seeking a strategic partner capable of providing capital and supporting the execution of our intellectual property monetization strategy across multiple jurisdictions, including the U.S. and Europe. We’re pleased to have identified SIM IP as a partner and to have formalized our collaboration,” said Travis Steffen, CEO of Gene Pool. “We met with numerous litigation funding firms; however, only SIM IP demonstrated strategic advisory service capabilities and meaningful experience in global enforcement strategies.”

Over the last few years, Gene Pool secured significant legal victories against companies in the cannabis and hemp industries including defending key patent claims in three inter partes review proceedings before the U.S. Patent and Trademark Office; defeating invalidity, non-infringement, and illegality challenges against these claims in U.S. District Court; and most recently obtaining summary judgment from the same court that the Defendants infringed these claims.

About SIM IP
Sauvegarder Investment Management, Inc. (“SIM IP”) is a Miami-based firm focused on intellectual property-based financing, investment and monetization opportunities. SIM IP invests across IP as an asset class and across jurisdictions, primarily focusing on the US, Europe, and Asia. Further information is available at www.simip.io. Follow us on LinkedIn, X (Twitter), and Instagram. 

About Gene Pool Technologies
At Gene Pool Technologies, we believe in industry solutions that recognize inventors, incentivize ongoing R&D, and enable operating companies with seamless access to technologies that will be critical to the long-term success of the Cannabis industry. Our team brings decades of experience across Cannabis and intellectual property and is deeply committed to the success of the industry and the innovation that will continue to drive quality, safety, and efficiency.

In this episode, Richard Culberson, the CEO of Moneypenny, discuses how technology is redefining communications and the client experience within the litigation funding and broader legal services industries.

In this podcast, Richard highlights:

1. Balancing innovation with professionalism when it comes to the human connection that clients demand
2. How to implement secure digital communication tools to ensure that AI-enabled client insights maintain robust security
3. One technology that most firms still overlook but has the potential to become a major differentiator in client experience
4. Practical first steps for firms that wants to future-proof their communication strategies without overwhelming their internal teams.

Plus much more! Check out the full video below:

Theo Ai, the AI-driven prediction platform for litigation, has raised a $4.2 million seed round just six months after its $2.2 million pre-seed announcement in November. The round was co-led by returning investor NextView Ventures and new investor Collide Capital. As part of the investment, Aaron Samuels, General Partner at Collide Capital, will join Theo Ai’s board. The funds will be used to expand proprietary data pipelines, enhance legal corpus, and reinforce supervised learning with legal experts.

“The legal industry is at a turning point, and AI-powered predictions are becoming essential for managing client expectations and executive decision-making,” said Patrick Ip, Co-founder and CEO of Theo Ai. “With this investment, we will continue to develop the infrastructure that makes settlement predictions more precise and valuable for law firms and corporate legal teams.”

Theo Ai will use the new capital to accelerate product development, focusing on its AI-powered settlement prediction tools tailored for Big Law firms and General Counsels. The company is committed to building firm-specific prediction engines that leverage case history and proprietary data to provide actionable insights across a wider array of legal scenarios.

“The leadership team within Theo Ai continues to demonstrate a deep understanding of customer needs and the way advanced technology can reshape the legal field for decades to come” said Co-Founder and Partner at NextView, Rob Go. “this round came together very quickly because customers are quickly adopting what they see as a uniquely valuable solution.”

“Theo Ai is transforming the way legal teams predict and manage settlements, and we are excited to back their next phase of growth,” said Aaron Samuels. “Having crossed paths with Patrick early in our respective founder journeys, it’s incredible to now collaborate in building the future of AI-driven legal intelligence.”

The funding round also marks a significant expansion of Theo Ai’s leadership team with the appointment of Jay Mandal as Chief Product Officer. A Stanford Law Lecturer and former COO at SAP, Mandal brings deep expertise in AI, enterprise technology, and legal innovation. He previously was the head M&A attorney at Apple and founded a legal tech company acquired by Rocket Lawyer. The company also welcomed Rob Martorana as Head of Partnerships. A former attorney with over 25 years in legal sales and marketing, including 12 years in litigation finance, Rob brings deep expertise across portfolio, single-case, and corporate monetization strategies. He most recently founded REMO Litigation Finance and served as SVP at Burford Capital.

Theo Ai’s seed round saw participation from all pre-seed investors, including nvp capital, Ripple Ventures, and Beat Ventures. The round also welcomed new investors Four Acres Capital and a distinguished group of angel investors from across legal, finance, and technology:

• David Fox (Kirkland & Ellis)
• Bo Berluti (RTP Global)
• Ramesh Dhanaraj (ex-Fortress Investment Group)
• Vivek Nasta (ex-Thomson Reuters)
• Akash Garg (ex-Uber)
• Art Calcagnini (ex-UBS)

Theo Ai initially launched by helping litigation funders optimize their investment decisions – recently partnering with Mustang Litigation Funding – and has rapidly expanded into serving Big Law and in-house legal teams. The strong market demand led to an oversubscribed seed round, reinforcing confidence in Theo Ai’s technology and vision.

With this latest funding, Theo Ai is poised to drive the future of AI-powered legal decision-making, delivering cutting-edge predictive solutions for the legal industry.

To learn more and join the waitlist for Theo Ai, visit: Theo Ai

About Theo Ai

Theo Ai is the first predictive engine designed by technical and legal professionals to forecast the outcome of legal disputes. Its AI models are trained on historical case data and incorporate real-time analytics with predictive modeling to deliver accurate and actionable insights. Theo Ai is meeting the most critical need for legal professionals – offering accurate case outcome predictions, backed by data. To learn more and join the waitlist for Theo Ai, visit: https://theoai.ai/#product

The International Legal Finance Association (ILFA), the only global association of commercial legal finance companies, announced that it has added its 30th member company to the association –Certum Group. 

Certum Group specializes in comprehensive alternative litigation strategies, such as litigation buyout insurance, judgment preservation insurance, litigation funding, class action settlement insurance, adverse judgment insurance, and claim monetization. The Texas-based Certum Group team includes litigation and insurance professionals along with risk mitigation specialists. 

“We are delighted to join ILFA and help it engage with policymakers interested in litigation finance,” said William Marra, a Director at Certum Group who leads the company’s litigation finance efforts. “Funding helps people and companies with strong legal claims get better access to the courts. We are excited to work with IFLA and ensure policymakers continue to encourage rather than restrict companies’ access to commercial legal finance.” 

“We’re delighted that Certum is joining ILFA’s growing membership”, said Rupert Cunningham, ILFA’s Global Director of Growth and Membership Engagement. “Certum already provides a lot of thought leadership on litigation funding and other matters, and they will make a great addition to ILFA’s work to support the sector in the US and globally.” 

About the International Legal Finance Association   

The International Legal Finance Association (ILFA) represents the global commercial legal finance community, and its mission is to engage, educate and influence legislative, regulatory and judicial landscapes as the voice of the commercial legal finance industry. It is the only global association of commercial legal finance companies and is an independent, non-profit trade association promoting the highest standards of operation and service for the commercial legal finance sector. ILFA has local chapter representation around the world. 

For more information, visit www.ilfa.com and find us on LinkedIn and X @ILFA_Official.

The following was contributed by Richard Culberson, the CEO North America of Moneypenny, the world’s customer conversation experts, specializing in call answering and live chat solutions.

Teams have the power to deliver sharper results, better service, and greater resilience. But how can we turn collaboration into a powerhouse — and keep it going?

As someone who leads a fast-paced customer conversations business, I know firsthand how critical strong teamwork is to delivering excellence, building trust, and staying competitive. While I don’t lead a law firm, I work closely with legal professionals across North America every day — and I’ve seen that the principles behind high-performing teams apply just as much in the legal sector as they do in tech.

At Moneypenny, we support thousands of law firms by providing virtual receptionists, client communication tools, and 24/7 support — so we understand the pressures legal teams face: high stakes, fast turnarounds, and a growing expectation for more responsive, more efficient service.

So, here’s the big question: how do you transform teamwork from something that gets things done to something that drives sustained excellence? 

Defining a Powerhouse Legal Team

We’ve all heard the phrase, “teamwork makes the dream work.” But in reality, that only holds true when the team is built and supported in the right way.  What really makes the difference is a powerhouse team – one that doesn’t just meet expectations but shapes them.

A legal team, like any tech or ops team is made up of specialists – attorneys, paralegals, and support staff. It’s a collaborative unit aligned toward shared client outcomes — whether that’s winning a case, closing a deal, or shaping legal strategy. A powerhouse legal team, however, takes this a step further. It consistently delivers excellence, anticipates client needs, and influences firm-wide success.

This could be the litigation team that wins precedent-setting cases. The M&A group that closes complex deals under pressure. Or the in-house counsel team that protects and propels business strategy. Whatever the mission, a powerhouse team lead sthrough several key building blocks, and in my experience, they’re universal to all industries.

The Seven Pillars of a Powerhouse Team (Legal or Otherwise)

So, how do you build that level of excellence? It starts with people — the right people. In legal services, your people are your greatest asset. But it’s not just about legal acumen. They must align with your firm’s culture, values, and long-term vision.

Then, you build on these seven pillars:

1. Strong Legal Leadership

Every successful team needs a leader who can inspire and set a strategic course. Whether it’s a senior partner, practice head, or general counsel, their job is to elevate the team’s performance, foster a culture of accountability, and ensure alignment with both client goals and firm direction. Great leaders don’t micromanage — they empower.

2. Shared Goals and Legal Vision

Powerhouse teams are unified by clear, shared goals. Everyone knows what success looks like and what’s expected of them — whether that’s billable hours, client feedback, or innovation in legal service delivery. When the entire team rallies around a common vision, alignment and momentum follow.

3. Diverse and Complementary Legal Expertise

No team succeeds when everyone brings the same strengths. The best-performing teams I’ve built include a mix of strategists, problem-solvers, doers and deep thinkers. The same principle applies in legal settings. Legal excellence requires more than technical brilliance in one area. It demands a combination of skills across disciplines. A litigation team thrives when trial lawyers, legal researchers, and case managers work seamlessly. In a corporate team, dealmakers, compliance professionals, and contract experts must collaborate. And just as important as functional skills is diversity of thought — bringing varied perspectives to legal problems leads to smarter, more creative outcomes.

4. Open and Effective Communication

In our world, communication is everything but that is true in all busines. Whether it’s delegating work, discussing a case strategy, or updating clients, effective communication prevents errors, builds trust, and enhances efficiency. I’ve found that when communication flows freely everything else works better. Egos stay in check, ideas get better and results speak for themselves.

5. Trust and Collaboration

A true team operates with mutual trust. Everyone understands their role, respects others’ and works to a shared goal. When legal professionals trust one another’s judgment, competence, and intentions, the team thrives. This trust allows lawyers to focus on their areas of expertise while relying on others to do the same. Collaboration becomes second nature, not forced. Roles are respected, workloads are balanced, and credit is shared. That kind of trust turns a good team into a powerhouse.

6. Adaptability and Resilience

Across the business landscape, we’re in a time when things change fast and the legal world is no different — new legislation, client demands, economic pressures. A powerhouse team responds with agility. They learn quickly, adjust strategies, and support each other during challenging cases or high-pressure deadlines. They don’t just survive stress — they strengthen through it.

7. Continuous Learning and Improvement

The best teams never stay still. Whether it’s staying ahead of regulatory changes, mastering new tech tools, or refining client service skills, powerhouse teams prioritize development. Mentoring, ongoing training, and regular performance feedback cultivate teams that evolve — not stagnate.

A commitment to continuous improvement sends a clear message: you believe in your team, and you’re investing in their growth. That, in turn, builds loyalty, engagement, and retention.

Final Thoughts

Whether you’re building a tech team, a client success function, or a legal department, the fundamentals of a high-performing team remain the same. Great teams don’t just happen. They’re built with intent — with the right people, supported by the right culture, and driven by the right leadership.

When you get this right, the payoff is exponential. From more efficient operations to higher client satisfaction and better outcomes — powerhouse teamwork becomes a competitive advantage.

In any sector — and certainly in law — that’s a result worth striving for.

Angeion Group, a leading provider of legal notice and settlement administration services, today announced the addition of three independent members to its Board of Directors. This milestone underscores Angeion’s strategic growth trajectory and commitment to strong governance, innovation, and operational excellence. 

The newly appointed board members are three highly accomplished executives whose leadership has shaped the modern legal and professional services industries: 

• Rich Antoneck, Chief Executive Officer of Veritext Legal Solutions, leads the largest deposition and alternative dispute resolution firm in North America. Antoneck brings more than 20 years of private equity-backed executive leadership, including prior roles as CFO of Accuity Solutions and SourceMedia. 
• David Perla, Vice Chair of Burford Capital, is a recognized innovator in legal services. Formerly President of Bloomberg Law and co-founder of Pangea3 (acquired by Thomson Reuters), Perla oversees policy, marketing, and industry engagement at Burford. 
• Lou Andreozzi, former Chairman of Bloomberg Law and CEO of LexisNexis North American Legal Markets, is a legal tech pioneer. He has driven growth and product innovation at Martindale-Hubbell and continues to serve as a trusted advisor and board member across private equity and legal-tech ventures. 

“This board brings together an exceptional combination of legal acumen, business strategy, and operational expertise,” said Lee Minkoff, Managing Director at Renovus Capital Partners, the private equity sponsor of Angeion Group. “Angeion is operating at the forefront of legal administration, and this step reinforces our confidence in the company’s leadership, vision, and continued trajectory of operational excellence and growth.” 

Our growth has always been fueled by bold thinking and relentless execution, and the addition of Rich, David, and Lou takes that to the next level,” said Steven Weisbrot, President and CEO of Angeion Group. “Each has fundamentally shaped the way legal services are delivered – from litigation finance to legal tech and professional services at scale. Their insights will help us sharpen our strategy, deepen client impact, and push the boundaries of legal administration. 

About Angeion Group 

Angeion Group is an industry leader in legal notice and settlement administration, known for its use of technology, analytics, and hands-on client support to execute efficient, compliant, and effective legal administration services. With a proven track record in class action, mass tort, and bankruptcy administration, Angeion continues to redefine industry standards through precision, transparency, and innovation.

Alchemy Investments Acquisition Corp 1 (“Alchemy”( (Nasdaq: ALCY), a publicly traded special purpose acquisition company (“SPAC”), has entered into a non-binding letter of intent with Cartiga, LLC, a Delaware limited liability company (“Cartiga” and together with Alchemy, the “Parties”), in connection with a potential business combination (“Business Combination”).

Cartiga is a specialized alternative investment firm using advanced data analytics to drive investments in litigation finance. By integrating legal and financial data, Cartiga leverages proprietary information and deep domain expertise to predict litigation outcomes, optimize asset allocation and investment performance, and deliver case and business management insights to law firms.

Its analytics-driven strategy enables claim valuation, tech-enabled case monitoring, and dynamic risk adjustment. Cartiga streamlines the origination and investment process in a manner designed to mitigate risk and maximize returns. By investing in legal claims and legal services businesses, Cartiga continually improves its data advantage and value proposition to customers while delivering attractive non-correlated risk-adjusted returns⁽ⁱ⁾. Cartiga believes that it is optimally positioned to drive growth by leveraging direct distribution and machine learning tools to both accelerate originations and deploy business optimization tools for law firms.

As a public company, the pro forma business plans to opportunistically consolidate the fragmented litigation finance market through the intended acquisition and integration of complementary companies and assets. This strategy is designed to enhance scale, operational efficiency and market presence, driving long-term growth for shareholders. 

Investment Highlights of Cartiga

• Proven Track Record: More than $1.6 billion in lifetime originations and $1.6 billion in cash realizations since inception in 2000, demonstrating strong performance and profitability across market cycles.
• Comprehensive Platform: A multi-product alternative asset management and direct origination platform investing in the U.S. litigation and legal services market.
• Data-Driven Success: Advanced data analytics and bespoke technology enhance underwriting, risk assessment and portfolio management.
• Large Addressable Market: Large $300 billion+ addressable market representing approximately 1.4% of US GDP with a limited number of scaled competitors and meaningfully underpenetrated by traditional capital providers.⁽ⁱⁱ⁾
• Strategic Relationships: Longstanding partnerships with lawyers supported by 20-person in-house sales and business development team.
• Robust Data Moat: Proprietary claims and outcomes database provides durable competitive differentiator.
• Experienced Leadership: Led by seasoned, long-tenured professionals with domain expertise in the legal, finance and asset management industries.
• Financial Strength: Profitable, well-capitalized, scalable business with diversified portfolio of non-correlated assets generating predictable shorter duration cash flows.
• Institutional Backing: Supported by over $250 million in committed equity capital from blue chip investor base.

Other Key Metrics

• Proprietary Database: Contains over 250,000 individual litigation-linked asset fundings diversified across 8,000+ unique lawyers and law firms
• Investment Track Record: 20+ year track-record originating assets exhibiting non-correlated risk⁽ⁱⁱⁱ⁾ and outsized risk-adjusted returns versus traditional private credit^(iv)
• IT and Product Development Investment: Over $20 million invested since 2020
• Team Size: Approximately 95 employees
• Structured Finance Expertise: Four rated securitization transactions completed – three have been fully realized.

Leadership Commentary

“We view Cartiga’s platform as an attractive alternative investment, offering a return profile that is uncorrelated with other asset classes. This sector is massive and rapidly expanding,” said Mr. Vittorio Savoia, Co-CEO of Alchemy.

Mr. Mattia Tomba, Co-CEO of Alchemy, added, “We believe Cartiga and Alchemy make a compelling partnership. As funding, disclosure, and regulatory standards evolve, we expect the interest for publicly traded litigation finance asset management companies to grow. We believe a Nasdaq listing will put Cartiga in a leadership position in the industry by enhancing transparency, reducing the cost of capital, and expanding access to flexible funding. “

Cartiga’s CEO, Mr. Sam Wathen, remarked, “Combining with Alchemy aligns perfectly with our goals. Leveraging a Nasdaq listing would enable Cartiga to establish new industry guidelines with full transparency and utilize its public currency to drive growth and acquire complementary businesses. Enhanced transparency would ultimately lower funding costs, benefiting companies like ours.”

About Cartiga, LLC

Cartiga is a specialized alternative investment firm that leverages advanced data analytics to drive decision-making in the litigation finance sector. Cartiga combines capital with proprietary technology to help law firms and their clients achieve better litigation outcomes. The company applies a data-driven approach to underwriting, risk assessment and portfolio management, utilizing proprietary data, structured and unstructured legal and financial information, and continuously updated datasets from ongoing capital deployment. This iterative process enhances Cartiga’s predictive capabilities and strengthens its competitive edge.

Advisor to Cartiga, LLC

B. Riley Securities is acting as exclusive financial advisor to Cartiga, LLC. 

About Alchemy Investments Acquisition Corp 1

Alchemy is a “special purpose acquisition company” or “SPAC,” commonly known as a blank-check company, incorporated under the laws of the Cayman Islands as an exempted company for the purpose of completing a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, with a focus on companies acquiring, processing, analyzing, and utilizing data acquired from a variety of systems and sources.

Advisor to Alchemy Investments Acquisition Corp 1

Keefe, Bruyette and Woods, A Stifel Company, is acting as exclusive financial advisor to Alchemy Investments Acquisition Corp 1. 

Important Information and Where To Find It

This press release is provided for information purposes only and contains information with respect to a potential Business Combination described herein. If the Parties enter into definitive documentation regarding a Business Combination, a newly formed holding company intends to file relevant materials with the SEC, including a Registration Statement on Form S-4, that includes a preliminary proxy statement/prospectus, and when available, a definitive proxy statement and final prospectus. Promptly after filing any definitive proxy statement with the SEC, Alchemy will mail the definitive proxy statement and a proxy card to each shareholder entitled to vote at the Extraordinary Meeting relating to the transaction. INVESTORS AND SHAREHOLDERS OF ALCHEMY ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT ALCHEMY FILES WITH THE SEC IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ALCHEMY, CARTIGA AND THE BUSINESS COMBINATION. Any definitive proxy statement, preliminary proxy statement and other relevant materials in connection with the transaction (if and when they become available), and any other documents filed by Alchemy with the SEC, may be obtained free of charge at the SEC’s website (www.sec.gov).

Participants in the Solicitation

Alchemy and its directors and executive officers may be deemed participants in the solicitation of proxies from Alchemy’s shareholders with respect to the Business Combination. A list of the names of those directors and executive officers and a description of their interests in Alchemy will be included in any proxy statement for the Business Combination and be available at www.sec.gov. Information about Alchemy’s directors and executive officers and their ownership of ordinary shares is set forth in Alchemy’s final prospectus, dated as of May 4, 2023, and filed with the SEC (File No. 333-68659) on May 5, 2023, as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing (the “Prospectus”). Additional information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement pertaining to the proposed Business Combination when it becomes available. These documents can be obtained free of charge at the SEC’s website (www.sec.gov).

Cartiga and its managers and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of Alchemy in connection with the proposed Business Combination. A list of the names of such managers and executive officers and information regarding their interests in the proposed Business Combination will be included in any proxy statement for the proposed Business Combination when it becomes available. 

Sources

ⁱ Source: As measured vs. US GDP published by the US Bureau of Economic Analysis, S&P 500 and the Merrill Lynch High Yield Bond Index performance 

ⁱⁱ Source: GDP Figure based on the legal services market size as per the Beaureau of Economic Analysis. Underprenetration as measured based on the ratio of GDP contribution to US banking sector assets; US banking sector data as per the US Federal Reserve. 

ⁱⁱⁱ Source: As measured vs. US GDP published by the US Bureau of Economic Analysis, S&P 500 and the Merrill Lynch High Yield Bond Index performance 

^iv Based on asset performance measured versus the Cliffwater Direct Lending Index (CDLI) for 12/31/2019 through 12/31/2024