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Commercial Special Features

Funder Spotlight: Hedonova

Hedonova is a hedge fund that was established in 2020, and it specializes in alternative investments. The company has offices located in various parts of the world, making it accessible to investors from different regions. Alternative investments are unique investment opportunities that do not conform to the standard categories of investments such as stocks and bonds. Hedonova’s portfolio of alternative investments encompasses a diverse range of assets, including startups, real estate, fine art, wine, and cryptocurrencies.

The fund structure of Hedonova is based on a single fund structure that provides an excellent investment option for shareholders who wish to invest without the burden of managing the day-to-day distribution of their investments. This structure provides an added advantage to investors who have limited knowledge or experience in managing investments. Hedonova’s focus on alternative investments means that its portfolio diversifies risk, offering investors an excellent hedge against the volatility of conventional investment categories. The unique combination of alternative investment and the single fund structure makes Hedonova an attractive investment option for savvy investors looking for high-yield, low-risk investments.

Website: https://www.hedonova.io/
Founded: 2019
Headquarters: Los Angeles, CA USA

About Hedonova

At Hedonova, our mission is to provide high-yield, low-risk investment opportunities to investors who are looking to diversify their portfolios beyond traditional investment categories. We specialize in alternative investments, which are unique and offer an excellent hedge against the volatility of conventional investment categories.

We believe that by offering a diverse range of alternative investments, we can create a portfolio that will protect investors from market fluctuations and generate consistent returns over the long term. Our single fund structure is designed to make investing in alternative assets accessible and hassle-free for all types of investors. We are committed to building long-lasting relationships with our investors based on trust, transparency, and open communication.

We believe that by fostering a strong partnership with our clients, we can better understand their unique needs and investment goals, and provide tailored investment solutions that meet their expectations. Our team of seasoned professionals has extensive experience in alternative investments and a deep understanding of market dynamics. We are dedicated to utilizing our expertise to identify and pursue investment opportunities that deliver optimal returns while minimizing risk.

Our ultimate goal at Hedonova is to generate consistent and sustainable returns for our investors over the long term. We believe that by combining our expertise, ethical values, and active portfolio management, we can provide our clients with a superior investment experience that empowers them to achieve their financial goals.

Points of Differentiation:

Alternative Investment Expertise: Hedonova specializes in alternative investments, which are unique investment opportunities that offer high returns and diversify risk. Our portfolio includes a range of assets, such as startups, real estate, fine art, wine, and cryptocurrencies, to provide our investors with a diverse range of investment opportunities.

Global Accessibility: Hedonova has offices located in various parts of the world, making it accessible to investors from different regions. We believe that by having a global presence, we can offer unique investment opportunities that are not available in local markets.

Single Fund Structure: Our single fund structure provides an excellent investment option for shareholders who wish to invest without the burden of managing the day-to-day distribution of their investments. This structure provides an added advantage to investors who have limited knowledge or experience in managing investments.

High-Yield, Low-Risk Investments: At Hedonova, we are committed to providing our investors with high-yield, low-risk investment opportunities. Our focus on alternative investments means that our portfolio diversifies risk, offering investors an excellent hedge against the volatility of conventional investment categories.

Active Portfolio Management: Hedonova’s experienced investment team actively manages our portfolio of alternative investments, staying up to date with market trends and seeking out new opportunities to optimize returns for our investors. This approach ensures that our portfolio is well-positioned to adapt to changing market conditions.

Ethical Investing: At Hedonova, we believe in investing ethically and sustainably. We carefully evaluate each investment opportunity to ensure that it aligns with our values and standards. By investing in socially responsible assets, we aim to generate returns that not only benefit our investors but also contribute to the betterment of society and the environment.

 Key Stakeholders

 Suman Bannerjee Chief Investment Officer 

Suman Bannerjee is a highly accomplished Chief Investment Officer (CIO) with over 20 years of experience in the financial industry. He currently serves as the CIO at Hedonova, a global alternative investment management firm, where he is responsible for managing the firm’s investment strategies and ensuring the performance of its portfolios. Before joining Hedonova, Suman held senior roles at several leading financial institutions, including Millennium and Société Générale Equipment Finance (SGEF). At Millennium, he served as the Global Portfolio Manager. In this role, he was responsible for designing and implementing investment strategies, managing the firm’s risk exposures, and generating returns for investors. At SGEF, he was the Vice President of Equipment Finance and Supply Chain Finance, where he oversaw the origination, underwriting, and management of equipment and supply chain finance transactions, and was responsible for ensuring the profitability and growth of the business. Suman earned his Bachelor’s degree in Philosophy from the University of Cambridge, where he was a recipient of the prestigious Gates Cambridge Scholarship. He is also a Chartered Alternative Investment Analyst (CAIA) charter holder and a member of the CAIA Association, which is the leading professional association for alternative investment professionals. Throughout his career, Suman has demonstrated deep expertise in investments, risk management, and portfolio management. He is highly regarded for his analytical skills, strategic thinking, and ability to identify and execute profitable investment opportunities. He has a track record of generating significant returns and has a reputation for being a trusted advisor to his clients.

Jurisdictions and Sectors Served

At Hedonova, we pride ourselves on being a truly global organization with a presence in some of the world’s most prominent financial centers. We have strategically chosen our office locations in Los Angeles, Delaware, Tallinn, and Paris to ensure that we can offer our investors unique investment opportunities that are not available in local markets.

Our team members are spread across every continent, and we believe that diversity is our strength. They come from various backgrounds and bring different perspectives, experiences, and expertise to the table. We believe that this diversity enables us to evaluate investment opportunities from multiple angles and make informed decisions that are in the best interest of our clients.

At Hedonova, we are open to everyone. We believe that everyone should have access to alternative investment opportunities, regardless of their location, background, or level of investment expertise. Our mission is to make investing in alternative assets accessible, hassle-free, and rewarding for all types of investors. Whether you are a seasoned investor or just starting, we are here to help you achieve your investment goals. We are committed to fostering a culture of inclusivity, respect, and open communication.

We believe that by listening to our client’s feedback, we can continuously improve our services and better serve their unique needs. We are dedicated to building strong, long-lasting relationships with our clients based on trust, transparency, and mutual respect.

Key Metrics

Our investment strategy has generated a return of 32% in 2022, which significantly outperformed the market average for conventional investment categories such as stocks and bonds. This metric reflects our ability to identify and invest in alternative assets that deliver high returns while minimizing risk.

We believe that this level of performance is a testament to our active portfolio management, ethical investing principles, and commitment to delivering exceptional value to our clients.

Quotes from Key Stakeholders

“If you want to be wealthy, spend your time earning, learning, or relaxing. Outsource or ignore everything else.”

“Investing because you are scared to miss out on gains will leave you with larger losses.”

“Wealth is created by leverage. Leverage has different forms. Labor leverage is when you use someone else’s time, capital leverage is when you use someone else’s money. In the last two decades, code was leverage used to automate service delivery to billions. Now there’s another form of leverage – audience.

“Code, content, and capital is the new land, labor, and capital.”

“The best way to think about asset allocation between stocks and alternatives is timing. It’s best to invest in stocks when markets are at historical lows, and it’s best to invest in alternatives when inflation is high. “

Commercial

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Case Developments Commercial

Sony and Apple Challenge Enforceability of Litigation Funding Models

By John Freund |

A pivotal UK court case could reshape the future of litigation finance agreements, as Sony and Apple reignite legal challenges to widely used third-party funding models in large-scale commercial disputes.

An article in Law360 reports that the two tech giants are questioning the validity of litigation funding arrangements tied to multibillion-pound cartel claims brought against them. Their core argument: that certain litigation funding agreements may run afoul of UK laws governing damages-based agreements (DBAs), which restrict the share of damages a representative may take as remuneration. A previous Court of Appeal decision in PACCAR Inc. v. Competition Appeal Tribunal held that some funding models might qualify as DBAs, rendering them unenforceable if they fail to comply with statutory rules.

This resurrected dispute centers on claims brought by class representatives against Apple and Sony over alleged anti-competitive behavior. The companies argue that if the funding arrangements breach DBA regulations, the entire claims may be invalidated. For the litigation funding industry, the outcome could severely curtail access to justice mechanisms in the UK—especially for collective actions in competition law, where third-party financing is often essential.

The UK’s Competition Appeal Tribunal previously stayed the proceedings pending clarity on the legal standing of such funding arrangements. With the dispute now heading back to court, all eyes will be on whether the judiciary draws a clear line around the enforceability of funder agreements under current law.

The decision could force funders to rework deal structures or risk losing enforceability altogether. As UK courts revisit the DBA implications for litigation finance, the sector faces heightened uncertainty over regulatory compliance, enforceability, and long-term viability in complex group litigation. Will this lead to a redefinition of permissible funding models—or to a call for legislative reform to protect access to collective redress?

Case Developments Commercial

Funder’s Interference in Texas Fee Dispute Rejected by Appeals Court

By Harry Moran |

A Texas appeals court has ruled that a litigation funder cannot block attorneys from pursuing a fee dispute following a remand order, reinforcing the limited standing of funders in fee-shifting battles. In a 2-1 decision, the First Court of Appeals found that the funder’s interest in the outcome, while financial, did not confer the legal authority necessary to participate in the dispute or enforce a side agreement aimed at halting the proceedings.

An article in Law360 details the underlying case, which stems from a contentious attorney fee battle following a remand to state court. The litigation funder, asserting contractual rights tied to a funding agreement, attempted to intervene and stop the fee litigation between plaintiffs' and defense counsel. But the appellate court sided with the trial court’s decision to proceed, emphasizing that only parties directly involved in the underlying legal work—and not third-party financiers—are entitled to challenge or control post-remand fee determinations. The majority opinion concluded that the funder’s contract could not supersede procedural law governing who may participate in such disputes.

In dissent, one justice argued that the funder’s financial interest merited consideration, suggesting that a more expansive view of standing could be warranted. But the majority held firm, stating that expanding standing would invite unwanted complexity and undermine judicial efficiency.

This decision sends a strong signal to funders operating in Texas: fee rights must be contractually precise and procedurally valid. As more funders build fee recovery provisions into their agreements, questions linger about how far those rights can extend—especially in jurisdictions hesitant to allow funders a seat at the litigation table.

Commercial Regulatory Issues

Oklahoma Moves to Restrict Foreign Litigation Funding, Cap Damages

By John Freund |

In a significant policy shift, Oklahoma has enacted legislation targeting foreign influence in its judicial system through third-party litigation funding. Signed into law by Governor Kevin Stitt, the two-pronged legislation not only prohibits foreign entities from funding lawsuits in the state but also imposes a $500,000 cap on non-economic damages in civil cases—excluding exceptions such as wrongful death. The new laws take effect November 1, 2025.

An article in The Journal Record notes that proponents of the legislation, including the Oklahoma Civil Justice Council and key Republican lawmakers, argue these measures are necessary to preserve the integrity of the state's courts and protect domestic businesses from what they view as undue interference. The foreign funding restriction applies to entities from countries identified as foreign adversaries by federal standards, including China and Russia.

Critics, however, contend that the laws may undermine access to justice, especially in complex or high-cost litigation where third-party funding can serve as a vital resource. The cap on non-economic damages, in particular, has drawn concern from trial lawyers who argue it may disproportionately impact vulnerable plaintiffs without sufficient financial means.

Oklahoma’s move aligns with a broader national trend of state-level scrutiny over third-party litigation funding. Lawmakers in several states have introduced or passed legislation to increase transparency, impose registration requirements, or limit funding sources.

For the legal funding industry, the Oklahoma law raises pressing questions about how funders will adapt to an increasingly fragmented regulatory landscape. It also underscores the growing political sensitivity around foreign capital in civil litigation—a trend that could prompt further regulatory action across other jurisdictions.