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LexShares Further Expands Investments Team with Strategic Hiring of Kenneth Harmon

LexShares, a leading commercial litigation finance firm, today announced the addition of Kenneth Harmon as Director of Risk & Deputy General Counsel. Drawing on a 28-year background prosecuting white-collar criminal matters and whistleblower-related litigation for the federal government, Mr. Harmon will be evaluating and servicing a growing pipeline of legal claim investment opportunities as a member of the firm’s Investments Group.

Prior to joining LexShares, Mr. Harmon served as an Assistant U.S. Attorney in the District of Colorado for 19 years and in the Southern District of Florida for nine years, primarily leading investigations into tax and accounting fraud, insider trading, and counterfeit pharmaceuticals trafficking. He has also practiced at Denver-based litigation firm Springer & Steinberg, focusing on a wide range of commercial and white-collar criminal matters. Mr. Harmon began his career as a litigation associate with Paul Weiss and holds a Juris Doctor from Harvard Law School.

“Ken’s impressive track record and diverse skill set make him a tremendous asset to our firm,” said Max Volsky, LexShares’ Co-Founder and Chief Investment Officer. “Investing in our underwriting and servicing team is critical. We are confident Ken will bolster our efforts to provide an efficient funding process to an expanding network of attorneys and plaintiffs.”

“As a close observer of the litigation finance market, I have long admired LexShares’ approach to investing in legal claims and relished the opportunity to work alongside such a dynamic, experienced team,” added Mr. Harmon. “Mastering new and complex subjects fueled me throughout my career as a federal prosecutor. I find myself similarly energized joining a rapidly-growing firm that provides a critical product to the legal industry.”

The hiring of Mr. Harmon marks the latest milestone in a significant year of expansion for LexShares. He joins an investment team that has collectively underwritten $3 billion in funding opportunities to date, including $921 million in the past year alone. Powered by the firm’s proprietary Diamond Mine origination technology, alongside veteran legal underwriters, LexShares’ average investment size has grown 60% year-over-year as of Aug. 31, 2020, to $1.63 million. To support this growth, shortly after its 100th investment, the firm launched its second dedicated litigation finance fund. With a $100 million target size, LexShares Marketplace Fund II opened on June 10.

About LexShares

LexShares is a leading litigation finance firm, with an innovative approach to originating and financing high-value commercial legal claims. LexShares funds litigation-related matters, primarily originated by its proprietary Diamond Mine software, through both its online marketplace and dedicated litigation finance fund. Founded in 2014, the company is privately owned with principal offices in Boston and New York City. For more information, visit www.lexshares.com.

This release may contain “forward looking statements” which are not guaranteed. Investment opportunities posted on LexShares are offered by WealthForge Securities, LLC, a registered broker-dealer and member FINRA / SIPC. LexShares and WealthForge are separate entities. Investment opportunities offered by LexShares are “private placements” of securities that are not publicly traded, are not able to be voluntarily redeemed or sold, and are intended for investors who do not need a liquid investment. Investments in legal claims are speculative, carry a high degree of risk and may result in loss of entire investment.

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Announcements Consumer

Golden Pear Upsizes Corporate Note to $78.7M Amid Growth Plans

By John Freund |

Golden Pear Funding has extended and upsized its investment-grade corporate note to $78.7 million, further bolstering the firm's capacity to serve the expanding litigation finance sector. The New York-based funder, a national leader in both pre-settlement and medical receivables financing, said the proceeds will support working capital and fuel strategic growth initiatives.

A press release from Golden Pear outlines how the capital raise reflects continued investor confidence in the firm’s business model. CEO Gary Amos noted that the infusion is critical as Golden Pear seeks to scale alongside the “rapidly expanding litigation finance market.” CFO Daniel Amsellem added that the new funding aligns with the company’s capital allocation strategy, aimed at optimizing operational efficiency and executing strategic projects.

Brean Capital, LLC acted as the exclusive financial advisor and sole placement agent on the transaction.

Founded in 2008, Golden Pear has funded more than $1.1 billion to over 87,000 clients and remains one of the largest specialty finance companies in the U.S. Its business model spans legal case funding and medical receivables purchasing, with backing from a network of private equity partners that provide institutional support for continued expansion.

Announcements Regulatory Issues

LionFish Updates Model Documents in Response to CJC Report

By John Freund |

LionFish Litigation Finance Ltd has released a new suite of model litigation funding documents, updating its original set from February 2021. The revision comes on the heels of the Civil Justice Council's (CJC) Final Report on Litigation Funding, issued on 2 June 2025, which calls for a regulatory structure informed by best practices, including key principles published by the European Law Institute (ELI) in October 2024.

A LionFish press release details that the updated suite incorporates several of the ELI Principles (notably 4-12) and broader CJC recommendations, except where doing so would require legislative or procedural reform. LionFish's goal, according to Managing Director Tets Ishikawa, is not to dictate market norms but to foster industry-wide standardisation and efficiency. This proactive move is also intended to spark further collaboration between funders, insurers, and legal practitioners to develop trade practices akin to those in mature financial markets, such as those promoted by the Loan Market Association and the International Swaps and Derivatives Association.

The new suite includes three core documents: a litigation funding agreement, a priorities deed to define proceeds distribution, and an assignment deed for insurance benefits. Notably, LionFish has also added documentation for co-investment arrangements, reflecting a growing trend in syndicated funding deals. The funder has already closed seven such transactions.

Managing Director Tanya Lansky emphasised that while litigation funding remains complex, making documentation public enhances transparency and facilitates quicker deal closings—an essential factor for sustaining market growth.

As litigation finance continues to mature, this move by LionFish highlights a shift toward professionalisation and standardisation. With regulators increasingly focused on transparency and fairness, such initiatives may set a de facto benchmark for others in the industry. The question remains: will other funders follow suit, or will regulatory mandates be needed to compel alignment?

Announcements Commercial Legal Innovation

Backlit Capital Solutions Launches Legal Finance Consultancy

By John Freund |

Backlit Capital Solutions has announced the launch of its full-service legal finance consultancy. The firm aims to provide comprehensive funding solutions for legal claims, offering services that include litigation finance, arbitration funding, and judgment enforcement strategies.

An article in PR Newswire states that Backlit Capital Solutions is positioning itself as a comprehensive provider in the legal finance sector, aiming to serve a diverse clientele that includes claimants, law firms, lenders, and investors. The firm's service offerings encompass litigation finance, arbitration funding, and judgment enforcement strategies, indicating a broad approach to legal funding solutions.

The launch of Backlit Capital Solutions reflects a growing trend in the legal finance industry, where firms are expanding their services to address the multifaceted needs of legal claimants and their representatives. By offering a suite of services under one roof, Backlit Capital Solutions aims to streamline the funding process and provide tailored solutions to its clients.

As the legal finance landscape continues to evolve, the entry of firms like Backlit Capital Solutions underscores the increasing demand for specialized financial services in the legal sector. Their comprehensive approach may set a new standard for how legal finance consultancies operate, potentially influencing the strategies of existing and emerging players in the market.