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An LFJ Conversation with Caroline Taylor, Founding Partner of Ignitis

By John Freund |

Caroline Taylor is a Founding Partner of Ignitis, an early-stage litigation funding company who provides seed funding for legal cases. Ignitis emerged to bridge the gap between legal case concepts and the crucial funding they require to proceed. Ignitis addresses this vital need by providing the early-stage capital and expertise necessary to initiate litigation in Europe, the UK, and beyond. At Ignitis, Caroline focuses on operations, case development, execution, and funding. Prior to starting Ignitis, Caroline was a partner at an international collective redress firm. She is admitted in various state and federal courts within the United States and is a Registered Foreign Attorney in England and Wales.

Below is our LFJ Conversation with Caroline Taylor:

What inspired you to join Ignitis, and how has your experience shaped your perspective on the legal funding industry?

When my co-founder and I were litigators, we kept running into a “chicken-and-egg” dilemma: it takes capital to investigate, plead, and evidence a claim, yet most funders will not release significant capital until that work is already complete. Ignitis was created to bridge that gap. We deploy funds at the riskiest, earliest stage, when key questions still need answers, so our clients can generate the data points future funders require. That litigation experience is baked into everything we do, from how we assess cases to the speed at which we commit capital.

Can you describe some of the unique challenges your clients face and how Ignitis addresses them?

Every client faces a need for initial funding to unlock further case development such as expert analysis, merits opinions, damage opinions, and/or legal fees. Without that seed capital, even highly meritorious claims can stall. Ignitis supplies that early-stage capital quickly, allowing our clients to build out the factual and legal record, refine damages models, and position the matter for larger financing and filing.

How does Ignitis differentiate itself from other companies in the legal funding space?

  • Early–Stage Focus. Early-stage, high-risk funding is our core product. Our comfort in doing this is the result of years of litigating on risk through contingency fee structures such that we are very comfortable with case selection and early risk.
  • Decision Speed. Once we receive a complete information set, we aim to have an investment decision within days, giving our clients a genuine first-mover advantage.
  • End-to-End Support. Because we have lived the due-diligence grind ourselves, we help package the matter for later-stage funders and insurers, freeing lawyers to concentrate on litigation rather than capital raising.

What recent developments or innovations at Ignitis are you most excited about?

Specializing exclusively in early-stage funding has allowed us to build proprietary triage and diligence workflows. Coupled with a lean decision-making structure we can deploy capital faster than traditional funders can schedule an investment-committee meeting. The result is a nimble platform that adapts as the market evolves.

How do you see the future of legal funding evolving, and what role do you envision your company playing in that future?

The asset class is attracting an increasingly diverse pool of capital — family offices, credit funds, and insurers, not just dedicated litigation funders. By providing rigorous case development and structured risk-transfer tools (including tailored portfolio and insurance solutions), Ignitis converts what was once viewed as binary litigation risk into an investable, partially self-insured product. Our goal is to expand access to justice worldwide by matching meritorious claims with capital that understands and is comfortable with the underlying risk.

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John Freund

John Freund

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An LFJ Conversation with Kishore Jaichandani, Founder and Managing Director of CAVEAT CAPITAL

By John Freund |
Kishore Jaichandani is a founder and Managing Director of CAVEAT CAPITAL and an expert in litigation funding and related advisory services globally. He has a unique combination of financial and, legal acumen with having Bachelor of Law., Company Secretary, MBA (Finance) and CIMA qualifications and have rich professional experience working on these areas for more than 25 years. He assists law firms, corporates, and individuals globally in obtaining non-recourse financing for commercial litigation and arbitration cases. He is committed to creating value for lawyers and, their clients to have access to the information and expertise they need to negotiate fair funding agreements in the event of litigation in the competitive legal market. His expertise includes developing financial solutions to help law firms and big corporations to mitigate risk, and achieve their growth strategies, including using litigation portfolios as collateral for off-balance sheet working capital, and monetizing litigation and judgments. Below is our LFJ Conversation with Kishore Jaichandani:

You've spent decades in corporate finance and investment management before founding CAVEAT CAPITAL. What gaps in the dispute-finance market did you see from that vantage point, and how does your traditional finance background influence the way you underwrite and structure litigation-funding deals today?

Coming from a background in corporate finance and investment management, I saw a significant disconnect between the legal world’s approach to dispute resolution and the way capital markets assess risk and return. Many claims with strong legal merit were overlooked because they lacked financial packaging that investors could understand and trust.

When I founded Caveat Capital, I wanted to bridge that gap. My training and experience in structured finance, risk allocation, and asset modeling helps us treat legal claims as investable instruments. At Caveat Capital, we apply commercial due diligence standards, build funding memoranda that speak to capital providers in their language, and structure deals with clear risk-sharing, milestones, and contingencies. In essence, we bring investment discipline to a domain often driven purely by legal instinct.

CAVEAT CAPITAL is a litigation-funding consultancy in the Middle East. What regulatory or cultural hurdles have you encountered in bringing third-party funding to claimants and law firms across the GCC and wider MENA region, and where do you see the biggest growth opportunities over the next five years?

The regulatory landscape across the GCC and MENA region is still evolving when it comes to third-party funding. There’s a historical conservatism—both cultural and legal—around external financing of disputes, particularly in jurisdictions without codified frameworks. However, we’re seeing a shift, especially in arbitration-centric hubs like the DIFC, ADGM and DIAC, which have explicitly recognized third-party funding.

Culturally, there’s also a learning curve. Many claimants and law firms are unfamiliar with the mechanics of litigation finance, or associate it with loss of control. At Caveat Capital, our role often begins with education—demystifying the process and building trust on both sides.

As for growth, I see major opportunities in sovereign-commercial disputes, infrastructure claims, and enforcement actions across the GCC. As regional economies diversify and dispute volumes rise, the demand for smart, risk-sharing capital will grow exponentially.

Unlike many capital providers, CAVEAT CAPITAL sits between claimants and funders as an independent adviser—from drafting funding memoranda to negotiating term sheets. How do you balance neutrality with advocacy in that role, and what does a “successful” engagement look like for you and your clients?

Balancing neutrality with advocacy is the cornerstone of our model. We’re not aligned to one capital source or fund; our fiduciary duty is to the commercial success of the deal. That means we must present the claim with honesty and rigor—highlighting both strengths and weaknesses—to ensure funders can price risk accurately and sustainably.

A successful engagement is one where all stakeholders feel heard, the terms are balanced, and the funding leads to a fair and enforceable resolution. We’re proudest when we unlock funding for a claim that may have otherwise gone unfunded—not by overselling, but by translating complexity into commercial clarity.

Your firm was named “Global Litigation Funding & Advisory Firm of the Year” at the 5th Global Legal Association Conference in Dubai. What differentiators—whether in case selection, risk analytics, or stakeholder management—do you believe earned CAVEAT CAPITAL that recognition, and how will you build on it?

That recognition affirmed the value of our differentiated approach. We focus on bespoke structuring, funder-agnostic matchmaking, and deep regional knowledge—especially in jurisdictions where funding is emerging, not established. Our ability to navigate both the legal and financial sides of a deal—while bridging cultural and jurisdictional nuances—is what sets us apart.

We also apply a multi-metric risk model that considers not just legal merits but recovery pathways, enforceability, counterparty behavior, and geopolitical exposure. Going forward, we’re investing in technology, cross-border enforcement networks, and regional educational outreach to strengthen the funding ecosystem across emerging markets.

You’ve written about the disruptive impact of AI on litigation finance. Which emerging technologies do you think will most materially change case-assessment accuracy or deal economics, and how is CAVEAT CAPITAL preparing to integrate those tools into its workflow?

AI will change litigation finance in three major areas: predictive analytics, document review, and portfolio modeling. Tools that analyze prior judgments, jurisdictional patterns, and tribunal behaviors are already helping improve case scoring. When layered with machine learning, they offer faster, data-informed decisions that were previously reliant on human judgment alone.

At Caveat Capital, we’re partnering with LegalTech providers to build internal dashboards that combine predictive analytics with our human-led risk matrices. We're also exploring tools for ongoing case monitoring—tracking timelines, budget burn, and procedural triggers in real time. The future is hybrid: AI-augmented human judgment, not AI replacing it.

LFJ Conversation

An LFJ Conversation with Bill Alessi, Founder & CEO, Alpha Modus

By John Freund |
Alpha Modus is emerging as a rare hybrid: a litigation-capable IP holder, ecosystem‑builder via licensing and reselling partnerships, and AI‑driven innovator at the retail frontier. For investors and licensees, this holistic strategy—anchored in commercial deployment, recurring revenue, and patent enforcement—signals an AI-retail patent play with both defense and offense capabilities. Below is our LFJ Conversation with Bill Alessi, Founder & CEO of Alpha Modus: Could you elaborate on the details of the recent patent licensing agreement with VSBLTY and how it fits into Alpha Modus's overall strategy? Alpha Modus inked a definitive licensing deal with VSBLTY Groupe on June 12, 2025, leveraging Alpha Modus’s robust AI‑retail patent portfolio to support VSBLTY’s in‑store analytics and digital display offerings in high‑traffic retail environments. This license comes one the heels of a settlement between VSBLT's subsidiary Shelf Nine for a lawsuit filed by ALpha Modus, against Shelf Nine Customer Wakefern Foods. • Strategic Synergy: Beyond licensing IP, Alpha Modus plans to feature VSBLTY and Shelf Nine as preferred partners, even reselling their AI‑powered retail displays and media solutions. • Business Model Evolution: This deal cements a shift from purely legal IP enforcement to ecosystem building—turning technology from static patents into dynamic revenue streams and commercial partnerships. For AI, legal, and investor circles, this exemplifies smart patent monetization—transforming IP assets and defendants in infringement lawsuits into commercial platforms with tangible market traction. What are the key challenges and opportunities Alpha Modus faces in the current market for in-store digital experiences?
  • Opportunities:
    • Moment‑of‑decision engagement: With advanced AI analytics, retailers can deliver real-time, tailored promotions and planogram adjustments at the point of sale.
    • Data‑driven merchandising: AI enhances restocking alerts, product layout insights, and foot‑traffic understanding—critical for smart inventory and offline marketing.
  • Challenges:
    • Integration complexity: Corner-to-corner deployment requires retailers to adopt compliant camera systems, data pipelines, and staff workflows.
    • Privacy regulations: As solutions leverage image/data analytics, Alpha Modus and partners must navigate evolving consumer-privacy and data protection laws.
    • Retail adoption costs: Smaller retailers may delay implementing cutting-edge digital media due to capital and cultural constraints.
Can you discuss the specifics of the technology at the center of the patent infringement lawsuit against Cisco Systems? On June 9, 2025, Alpha Modus Ventures filed suit against Cisco in the Western District of Texas, alleging infringement of three U.S. patents (Nos. 11,108,591; 11,310,077; 11,303,473) related to Fibre Channel over Ethernet (FCoE) tech. • Core tech: The case centers on methods enabling reliable transport of storage-class Fibre Channel traffic over standard Ethernet – critical to Cisco’s Unified Computing System and converged network adapters. • Strategy: Part of a broader IP‑monetization campaign that includes prior Broadcom litigation —showing intent to enforce foundational networking patents in data-center infrastructure. How does Alpha Modus leverage AI to enhance targeted marketing and smart inventory management for its clients? Alpha Modus deploys AI-powered analytics at the shelf and point-of-sale to:
  • Tailor digital ads by aligning promotions to demographics, store layout, and real-time shopper behavior .
  • Optimize inventory by monitoring sales velocity and product interest, triggering restock or product-swapping alerts before stockouts occur . This data‑driven approach helps brands display relevant promotions, refine merchandising, and reduce lost sales from out‑of‑stock scenarios.
What are Alpha Modus's plans for future innovation and expansion in the data-driven technology space? Alpha Modus shows momentum on several fronts:
  • Expanding the IP‑ecosystem: After VSBLTY, the Company plans more licensing deals and reseller relationships in smart‑retail, media, and inventory-tech domains.
  • continued legal defense & monetization: Aggressive IP enforcement (e.g., Wakefern, Brookshire, Walgreens, Broadcom, Cisco) signals dedication to monetizing patents while feeding war-chest for future innovation and signing new partnerships as settlements are agreed.
  • Operational scale‑up: With Tim Matthews now leading deployment strategy to accelerate rollout of CashX kiosks (June 5, 2025), the Company is building infrastructure to deliver in‑store tech at scale.
  • Potential R&D pipeline: Their patent applications (e.g., personalized marketing, planogram management) and recent capital restructuring further empower future in-house product innovation.
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Una conversación de LFJ con Byron Sumner, director general y cofundador de Ignite

Byron Sumner es el Consejero Delegado y Cofundador de Ignite, una aseguradora especializada en litigios basada en la importante experiencia en litigios y reaseguros de sus miembros fundadores. Ignite ofrece grandes límites de capacidad en papel con calificación “A” para diversos tipos de casos, junto con una amplia gama de productos adaptados a las necesidades exclusivas de cada parte interesada. Sus soluciones abarcan desde litigios contractuales sencillos hasta arbitrajes internacionales multimillonarios. La misión de Ignite es transformar la experiencia del seguro de defensa jurídica proporcionando soluciones rápidas y simplificadas, comunicación transparente, resolución de problemas a medida y apoyo inquebrantable para ayudar a los clientes a lograr los resultados deseados. La experiencia de Byron durante la última década incluye una plétora de responsabilidades transversales dentro del sector de los (Re)Seguros, habiendo desempeñado funciones tanto analíticas como transaccionales en varias organizaciones aseguradoras líderes, como Argo Syndicate 1200, Chubb y Aon. También fundó una empresa de análisis y captación de clientes específicos, Byron ha apoyado la adquisición de capacidad, el desarrollo de productos y las estrategias de crecimiento de varios MGA líderes del mercado. El compromiso de Byron en la cofundación de Ignite está impulsado por un fuerte deseo de seguir desarrollando la armonización del Seguro y el Contencioso Mercantil. A continuación encontrarás nuestra Conversación LFJ con Byron Sumner: ¿Podrías facilitarnos información básica sobre el Seguro de Protección de Capital (SPC)? En su nivel más básico, ¿cómo funciona, a quién protege y cuáles son sus ventajas? En esencia, una póliza CPI protege una parte acordada del desembolso de un financiador. Una póliza CPI puede contratarse para un único litigio, o para varios litigios que formen una cartera de inversiones. En pocas palabras, si la parte acordada del capital no se genera en una fecha determinada, indicada en el texto de la póliza, la aseguradora está obligada a pagar una indemnización en función del déficit entre el rendimiento del financiador y el límite de indemnización de la póliza. Los beneficios de la CPI van más allá del alcance de la mayoría de los productos de seguros convencionales, que se centran principalmente en la provisión de una protección a la baja “para dormir tranquilo”. Cuando se apalanca eficazmente, la CPI ofrece a los financiadores de litigios la oportunidad de desbloquear un conjunto más amplio de posibles socios inversores y un capital de deuda a precios más atractivos. ¿Cómo afecta el aumento del IPC en el panorama de los servicios jurídicos a los financiadores de litigios en lo que respecta a su enfoque de selección y suscripción de casos? La política de CPI no pretende permitir que los financiadores diluyan su enfoque de DD en los casos. Ignite colabora con financiadores de litigios de primer nivel de los que no sólo se espera que mantengan el mismo alto nivel de DD, estén asegurados o no, sino que también están obligados a cumplir criterios específicos de selección de casos y otros procesos de suscripción para satisfacer los requisitos de la póliza. Elegible sólo para clientes exigentes, la póliza CPI de Ignite está diseñada para ser una red de seguridad muy utilizable en caso de pérdida inesperada, más que un instrumento empleado para eliminar el riesgo de litigio legítimo en su totalidad. ¿Cuál dirías que es el nivel de interés de los financiadores de litigios en torno a tu producto CPI? ¿Qué tipo de preguntas te hacen o qué preocupaciones tienen, y cómo las disipas? El interés por los productos de IPC ha aumentado constantemente en los últimos tres a cinco años. Aunque la mayoría de los posibles socios asegurados con los que se encuentra Ignite son financiadores que buscan proteger una parte de su capital, ahora vemos solicitudes de coberturas adicionales, como primas aseguradas y “protección al alza”, que consiste en garantizar la devolución de una parte del capital superior a la inversión principal (>1X MOIC). La principal preocupación de los financiadores de litigios y sus LP/financiadores respecto al IPC gira en torno a la capacidad de la aseguradora para pagar una reclamación en caso de siniestro importante. Esta preocupación se ve mitigada en gran medida por la calificación A- de los socios de capacidad de Ignite y su equipo interno de suscripción, líder en el mercado. Mediante una hábil estructuración de las pólizas y la estipulación de procedimientos, reducimos al mínimo el riesgo de un siniestro. Cuando Ignite se asocia con financiadores de litigios, ¿qué criterios busca en su diligencia? El DD de Ignite es amplio, y suscribir “envoltorios” de CPI de cartera es un proceso más complejo y a medida que las pólizas de mercado abierto de caso único. La transparencia es fundamental en el proceso; trabajando en colaboración con sus clientes potenciales, el equipo de suscripción de Ignite explorará inicialmente el historial de un gestor de fondos, así como su experiencia y conocimientos internos, incluidos los de su comité de inversiones. Para tener una primera idea de la viabilidad, el equipo de Ignite también evalúa las expectativas de TIR y MOIC del financiador, basándose en sus hipótesis sobre la tasa de éxito de los casos y la recuperabilidad asociada. ¿Cómo crees que la continua aparición de productos de seguros en el sector de la financiación de litigios contribuirá a la evolución de la financiación de litigios en los próximos años, y cómo desempeñará Ignite un papel en esa historia en curso? La utilización de seguros sigue siendo un concepto relativamente nuevo para muchos financiadores, sobre todo en el contexto de la CPI sobre productos ATE más tradicionales, como la cobertura de costes adversos. Estoy seguro de que los productos de seguros desempeñarán un papel importante en el futuro de la financiación de litigios, y la creciente recepción de solicitudes de seguros por parte de Ignite atestigua inequívocamente esta tendencia al alza. Una póliza de CPI no sólo puede facilitar un coste de capital reducido para los financiadores, sino también desbloquear la clase de activos de litigios mediante la utilización de una calificación de grado de inversión para inversores tradicionalmente reacios al riesgo, como los fondos de pensiones y las compañías de seguros. Como resultado de la creciente armonización de los seguros y los litigios comerciales, preveo una mayor afluencia de capital a un precio adecuado y el acceso a la justicia de los demandantes/demandantes con reclamaciones meritorias. Ignite seguirá desempeñando un papel destacado en esta evolución, proporcionando productos de seguros especializados que satisfagan las necesidades de nuestros clientes. La oferta de Ignite, que en sí misma está siempre evolucionando, pretende trabajar codo con codo con los financiadores en cestas de casos con garantías cruzadas, lo que permite a las aseguradoras beneficiarse de las conocidas ventajas de la diversificación. A medida que los financiadores de litigios exploran nuevas vías para mitigar el riesgo, el papel de los productos de seguros como el CPI es cada vez más importante. ¿Podrías compartir algunas ideas sobre cómo Ignite satisface las necesidades y expectativas de los financiadores de litigios en este entorno cambiante? Ignite dedica una cantidad significativa de tiempo y recursos a desarrollar un profundo conocimiento de su mercado objetivo. La empresa colabora estrechamente con algunos de los principales financiadores del mundo para explorar estrategias innovadoras y bien establecidas que les ayuden en la gestión de sus carteras, con el fin de utilizar su capital de forma más eficaz para obtener mejores rendimientos para todas las partes interesadas. El éxito de Ignite está íntimamente ligado al éxito de sus asegurados, y esta dinámica sirve de base sólida para futuras colaboraciones. Por ejemplo, esta sólida relación de trabajo suele manifestarse en la perfecta adaptación de la documentación estándar de las pólizas para atender las necesidades individuales específicas del cliente financiador. Ignite se centra sistemáticamente en ofrecer un catalizador para aumentar el número de casos resueltos con éxito, lo que, en última instancia, beneficia a demandantes y reclamantes.