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How Qian Julie Wang’s Upbringing as an Undocumented Immigrant Informed Her Legal Career

For the keynote address of the LF Dealmakers conference, Validity Finance Founder and CEO Ralph Sutton, introduced NY Times Best-Selling Author and Civil Rights Litigator, Qian Julie Wang. Her memoir, Beautiful Country, was ranked a best book of 2021 by the New York Times, and has been well-reviewed by many distinguished outlets.

Ms. Wang began by sharing her ‘most humiliating story’ from Big Law. She began her carer at a top-5 firm as a hungry summer associate eager to prove herself at this white-shoe law firm. She noticed that partners and associates kept coming to her asking her to take on various assignments, and didn’t realize that she should select which ones to work on, so she said yes to each offer, so quickly found herself working on 10 major litigation cases.

For the next month, Ms. Wang skipped all of the orientation, lunches, outings, and buried her head in WestLaw doing research. It turns out, one of the training sessions she missed was quite important–because a senior partner at the firm called her into his office and asked her what the hell she had been doing for five weeks?

Ms. Wang hadn’t been billing any of her research time, because she had missed the training session that explained that part of the process. So the vast majority of her work went un-billed.

Through some self reflection, Ms. Wang realized that her problem stemmed from her belief that she didn’t belong. Her very first job was age 7 at a sweatshop in Chinatown, as an undocumented immigrant, and here she was in a fancy white-shoe law firm. She had spent her life afraid of anyone in a uniform, afraid they might be out to deport her. And so when she got her summer associate job at the law firm, she brought that insecurity in the door with her.

Ms Wang described her family’s suffering under the Communist takeover of China, how they were imprisoned and tortured for reading banned books. She came to admire two Americans she read about–Ruth Bader Ginsburg, and Thurgood Marshall. That was when she decided to become a lawyer, when she eventually came to America.

However, like many lawyers, she fell into the trap of focusing just on the compensation. She billed and billed so many hours that she lost her sense of purpose. It wasn’t until she started writing her memoir, Beautiful Country, that she re-discovered the reason she became a lawyer in the first place. She realized that the little girl who had grown up working in a sweatshop dreamed of being a lawyer so she could help people, and here years later she had achieved that dream, but the allure of those billable hours had caused her to lose the plot.

Ms. Wang took a sharp turn and decided to focus her efforts on helping marginalized communities. Her work now helps her find her way back to the child she was, and provides a sense of fulfillment about her career that she never previously experienced.

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Community Spotlight:  Laura Mann, Founder, Balqis Capital

By John Freund |

Company Name and Description: Balqis Capital is a B2B company specialising in deal origination and providing bespoke, insured opportunities to their network for portfolio diversification. They originate off market, litigation and private credit opportunities to their network of portfolio managers and wealth management firms. They are working on a multi billion pound, insured portfolio currently which is a fantastic addition to portfolios..

Company Website: www.balqiscapital.com   

Year Founded:  2022

Headquarters:  Cyprus, UAE

Area of Focus: We are seeing huge demand in our opportunities, given our extensive network and experience we are able to secure the best in the industry. We are always looking to enhance our proposition for investors globally.

Member Quote: We are excited to see the development of the industry in the UAE in 2025 and beyond.

Omni Bridgeway Announces Completion of Fund 9 Transaction with Ares

By Harry Moran |

As LFJ covered in February of this year, a landmark deal between Omni Bridgeway and Ares Management Corporation for the establishment of a new fund was progressing smoothly following the initial announcement of the deal in December 2024.

An announcement from Omni Bridgeway revealed that the litigation funder has completed the Fund 9 transaction, which sees Ares Management Corporation acquire a 70% interest in the fund for a total of A$320 million. The final completion of the transaction includes receipt of the final A$45m payment, following Ares’ prior A$275 payment that was announced as part of the fund’s financial close on 25 February 2025. Omni Bridgeway retains a 30% interest in Fund 9, and will remain as the adviser to the fund alongside its management of the legal assets in the fund.

Omni Bridgeway provided additional details on the establishment of Fund 9, explaining that this latest fund has interests in over 150 investments across its other established funds and one remaining balance sheet investment. The funder also noted that the portfolio legal assets in Fund 9 is comprised of both mature investments and those investments that were recently originated over the course of FY25.

Raymond van Hulst, Managing Director and CEO, provided the following statement on the completion of the transaction: 

“We are extremely proud to lead the field together with Ares through this innovative transaction. It is the first continuation fund for legal assets and is highly significant in its scope and size as a secondary market transaction. The transaction demonstrates that deep pools of institutional secondary capital are available to Omni Bridgeway to mitigate the duration risk associated with legal assets. This is driven by our high quality track record built off an institutional-grade asset management platform with a transparent valuation framework. This transaction comes at a formative time for the industry, with (1) growing institutional investor interest in legal assets given the unique asymmetrical and non-correlated returns even during volatile markets, (2) a growing market demand for legal finance, while (3) the industry is maturing and consolidating reflecting the scale, diversification, skills, experience and track record required to be successful over the long term as a manager in this asset class. This transformative transaction positions Omni Bridgeway well for the opportunity set ahead.” 

Jan-Paul Kobarg, Partner at Ares Management, also provided a comment:

“We are pleased to support OBL with this significant transaction, which underscores Ares' ability to deliver bespoke, creative capital solutions at scale. We look forward to working with Raymond and the OBL team as they build on their leadership in an asset class that we believe will be increasingly targeted by institutional investors due to its ability to generate attractive, uncorrelated returns.”

The full announcement which includes an overview of the deal’s strategic rationale and financials can be read here.

Lawdragon Publishes 100 Global Leaders in Litigation Finance for 2025

By Harry Moran |

Lawdragon has released its 100 Global Leaders in Litigation Finance list for 2025, with the sixth edition of its annual guide ‘honoring the entrepreneurs who enable litigators and law firms to extend their reach in the types of matters they take on, their strategic pathways, and the enhanced access to justice they provide.’ This year’s list includes 174 senior executives from across the world, with this representing a small increase from the 164 individuals highlighted in the 2024 list.

Of those companies with leaders included on the list, Burford Capital saw the highest number of executives recognised with 14, with Therium Capital close behind at 10 individuals, and LCM which had nine of its team listed. 

Looking at the breakdown by jurisdiction across the 174 litigation finance leaders recognised, the US was the most represented country with 85 individuals listed. The UK came in a close second with 51 leaders recognised, and Australia came behind it with 18 executives profiled.

The full list of individuals recognised in 100 Global Leaders in Litigation Finance list can be found here.