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Litigation Funder Validity Finance Adds Two New Members to Investment Team with Backgrounds in Big Law and Mediation

March 10, 2020

Litigation Funder Validity Finance Adds Two New Members to Investment Team with Backgrounds in Big Law and Mediation

NEW YORK (March 10, 2020) – Litigation funder Validity Finance announced two noteworthy additions to its investment team in New York and Chicago. Joshua J. Libling, an experienced commercial and appellate lawyer joins Validity from Boies Schiller Flexner. He becomes a portfolio counsel in New York. Also arriving is James Amend, a renowned patent trial lawyer, mediator and former partner at Kirkland & Ellis. Mr. Amend becomes a senior investment advisor based in Validity’s Chicago office. As portfolio counsel, Mr. Libling will help identify, vet and oversee litigation investments in stand-alone lawsuits and law firm portfolios of hybrid contingency cases. With a broad background in complex commercial disputes, Mr. Libling was involved in some of Boies Schiller’s highest-stakes cases including plaintiff and defendant-side actions at all levels of the federal courts. As former Pro Bono Coordinator at Boies Schiller, he also bolsters Validity’s commitment to high ethical standards in dispute funding, including cases with claims related to social justice and exoneration. A magna cum laude graduate of New York University School of Law, Mr. Libling clerked for two federal judges: Judge Chester Straub of the Second Circuit Court of Appeals, and Judge Kenneth Karas of the Southern District of New York. “We’re thrilled to have a lawyer of Joshua’s caliber join us,” said Validity CEO Ralph Sutton. “He brings outstanding trial experience in big-ticket commercial disputes and is an expert at case evaluation. His commitment to social justice cases while at Boies Schiller suits him admirably for our client-first approach to funding.” Julia Gewolb, Validity’s Head of Underwriting, worked with Mr. Libling at Boies Schiller for several years and added “Josh brings substantial case experience and understands the key milestones over the life of a litigation matter. I know firsthand how much analytic and strategic strength he will add to our underwriting process.” The addition of Mr. Amend reflects a growing pool of complex patent disputes under consideration for funding by Validity. In addition to his three-decade tenure as a Kirkland partner, Mr. Amend served as chief mediator for the United States Federal Circuit Court of Appeals from 2007 to 2013. In that role, and in subsequent years as a JAMS neutral, he has mediated over 600 patent and intellectual property cases. Mr. Amend also authored the federal judges’ patent treatise, Patent Law – A Primer for Federal District Court and Magistrate Judges (Eds. 1998 and 2006). “Few practicing lawyers — or judges for that matter — have the breadth and depth of courtroom experience Jim brings to Validity,” reports Validity CEO Ralph Sutton. “We are exceptionally fortunate to have his help reviewing the expanding opportunities we’re seeing in the intellectual property area.” Surge in Cases for Funding The U.S. market for litigation finance continues to grow at a healthy pace. Validity has screened over 650 potential matters since its launch in June 2018, including over 150 patent opportunities. Validity’s acceptance rate for investments remains under 5%, however. These investments include commercial lawsuits, arbitrations (domestic and international) and law firm portfolios, as well as asset enforcement matters. “We suspected there would be significantly more demand for dispute funding than we’d seen previously when we entered the market in 2018. But we’ve been pleasantly surprised by the strong uptick in funding requests in each subsequent quarter,” Mr. Sutton said. He noted the firm reviewed over 120 new cases in the fourth quarter of 2019 alone. Overall, Validity has reviewed cases from 30 states and 20 countries internationally. “We’re pleased with the steady advance of the firm, especially the robust bump in investment opportunities after just 18 months from launch,” Mr. Sutton said. “Our call-out message that litigation finance must focus on clients and building trust has clearly resonated with the market. We’re committed to using our capital to expand equal access to the civil justice system and look forward to supporting more worthy cases in 2020.” About Validity Validity is a commercial litigation finance company that provides businesses, law firms and individuals with non-recourse financing for a wide variety of commercial disputes. Founded in 2018 with $250 million in financing, Validity believes that capital and legal expertise combine to help solve legal problems on behalf of clients. Validity’s’ mission is to make a meaningful difference for clients by focusing on fairness, ethics, innovation, and clarity. For more, visit www.validity-finance.com.
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Announcements Commercial

Harris Pogust Joins Bryant Park Capital as Senior Advisor

By John Freund |

Bryant Park Capital (“BPC”) a leading middle market investment bank and market leader in the litigation finance sector, is pleased to announce that Harris Pogust has joined the firm as a Senior Advisor.  Harris (Mr. Pogust) is one of the best known and prominent attorneys in the mass tort and class action fields, he was the founding partner and Chairman of Pogust Goodhead worldwide until early 2024 and is currently working with Trial Lawyers for a Better Tomorrow, a charity Harris founded, to help children reach their educational potential all over the world.  Harris’ life work has been to deliver justice for those who have been damaged or injured through the negligence or bad faith of others.

“We are thrilled to have Harris as part of our team.  His knowledge, experience and relationships in the litigation finance sector are of great value to Bryant Park and our clients.  As the litigation finance world becomes more competitive, complex and challenging, having an expert like Harris on our team is invaluable,” said Joel Magerman, Managing Partner of Bryant Park.

Harris’ efforts, in conjunction with Bryant Park will focus on assisting law firms and funders in developing strategies to more efficiently fund their operations and cases and assist them in establishing the right relationships for future growth.  Harris commented, “I have been fortunate to have been a practicing attorney and partner in law firms for over 35 years focused on building and growing a worldwide book of business in the class action/mass tort field.  That required significant capital and throughout my career I have raised over $1 billion for my firms.  I have learned what works and what doesn’t.  I have seen both the risks and rewards in this industry.  I look forward to being able to work with law firms and funders to assist them in putting the right strategies in place with Bryant Park and bringing capital and liquidity to help them grow and flourish.”

About Bryant Park Capital

Bryant Park Capital is an investment bank providing capital raising, M&A and corporate finance advisory services to emerging growth and middle market public and private companies. BPC has deep expertise and a diversified, well-founded breadth of experience in a number of sectors, including specialty finance & financial services. BPC has raised various forms of credit, growth equity, and assisted in mergers and acquisitions for its clients. Our professionals have completed more than 400 assignments representing an aggregate transaction value of over $30 billion.

For more information about Bryant Park Capital, please visit www.bryantparkcapital.com.

Announcements Commercial

Therium Capital Advisors Launched to Provide Litigation Finance Advisory Services

By John Freund |

Therium Capital Advisors (TCA) announced today the launch of its independent advisory services business dedicated to helping claimants, law firms and corporates to source, structure and secure litigation finance. TCA offers end-to-end support including funding strategy, investor engagement, financial modelling, deal structuring, ongoing case management and secondary market advisory. Based in London, the firm is advising on deals in the UK, continental Europe and Australia.

Therium Capital Advisors is led by litigation funding pioneer Neil Purslow and co-founded by investment banker Harry Stockdale. Neil has over 16 years of experience in litigation finance, raising capital and investing worldwide across all forms of litigation finance from single cases funding through to portfolio, corporate and law firm funding arrangements. Harry was previously head of UK M&A at investment bank Haitong with twenty years of experience in investment banking, advising law firms and litigation funders on complex financial transactions.  

TCA is the first advisory firm to provide clients with advisory services that are backed by a deep understanding of litigation finance investing coupled with the financial and transactional expertise of investment banking. Therium Capital Advisors bridges the gap between claimants, law firms and corporates on the one side and existing and new sources of institutional capital on the other.  Through the combined expertise of its founders, TCA opens up the investor universe that is available to clients and drives quality in the investment propositions, efficiency in the funding process and competition in the funding market.

TCA exclusively advises claimants, law firms and corporates, ensuring that it remains conflict-free.  The firm advises across the full range of legal assets including single case and portfolio funding, law firm financing, financing options for corporates and existing portfolios of legal assets.   

Neil Purslow, co-founder and Managing Partner of Therium Capital Advisors said: “We are at a pivotal moment in the development of the legal finance industry, given the relative paucity of traditional funding capital available.  However, we are seeing a shift towards new categories of investors in legal assets who want exposure to this uncorrelated asset class. By leveraging our unrivalled experience across both litigation funding and investment banking, we are assisting our clients to navigate this landscape with confidence, speed and understanding, and we provide them with access to a broader set of funding options and to meet their funding needs efficiently and cost effectively.”

Harry Stockdale, co-founder and Partner of Therium Capital Advisors said: “We are bringing an investment banking mind set to the litigation funding world which has developed largely without the benefit of specialist advisors. This professionalisation of the funding process will make the sector more efficient and accessible to a wider audience of investors in addition to the traditional litigation funders. We are already seeing the benefit of this, for both clients and investors alike, and is part of the maturing of litigation finance as an asset class.”

Therium Capital Advisors provides the following services to claimants, law firms and corporates:

  • Deal Preparation: Preparing funding propositions to be investment-ready.
  • Capital Sourcing: Identifying and engaging with suitable funders and capital providers from across the spectrum of legal assets investors.
  • Financial Modelling and Analysis: Providing robust financial modelling and scenario analysis to evaluate deal structures and model returns.
  • Investor Materials and Outreach: Advising on the preparation of investor-facing materials and documentation, inserting rigour and discipline to ensure efficiency in the funding process.
  • Co-Funding: Advising on the identification and engagement of potential co-investors to optimise risk-sharing and capital raising.
  • Negotiating Funding Terms: Leading negotiations with investors to secure terms which balance commercial viability with the interests of the funded party.
  • Deal Structuring and Documentation: Advising on deal structures and overseeing the drafting and execution of all relevant documentation.
  • Post-Funding Case Management: Providing ongoing monitoring, reporting, and servicing support post-funding on behalf of the claimant, to manage risks and support positive case outcomes.
  • Secondary Market Advisory: Advising on secondary transactions of existing legal assets including sub-funding arrangements and exits.

More information can be found at: www.therium.com/theriumcapitaladvisors

Announcements Commercial

Gryphon Law Launches as Contingency-Fee Firm for International Disputes

By John Freund |

A new player is entering the international disputes arena—this time with a distinct twist on legal funding. Gryphon Law has officially launched as the first law firm globally to specialize in contingency-fee representation for cross-border disputes.

Gryphon Law aims to offer an alternative to third-party litigation funding by shouldering the cost of legal claims in return for a share of the outcome. Based in New York and with plans to expand into London and Miami, the firm targets clients who might otherwise turn to traditional funders, offering instead to partner with them directly through performance-based fee structures.

The firm was founded by John Templeman, a seasoned international disputes attorney qualified in New York, England & Wales, and Australia, who previously held roles at leading global law firms. Templeman has assembled a multilingual team capable of handling the full lifecycle of international litigation and arbitration in English, Spanish, and French—from initiation to enforcement. Co-founding the venture is Daura Dutour, an 18-year disputes veteran with experience in the U.S., France, and Haiti, supported by three additional associates.

Templeman stated: "I believe there's a real opportunity in the market to provide clients with an appealing alternative to third party funding, particularly in the sub-US$30 million value range below where many of the funders operate. I've been fortunate to assemble a world-class team of disputes lawyers who share this vision – we're looking forward to contributing to this rapidly evolving field.”

Gryphon Law’s business model suggests a more vertically integrated approach to litigation finance—embedding the funder role within the law firm itself. For clients, this could mean greater alignment of interests, fewer intermediaries, and possibly reduced costs when compared to traditional third-party funding arrangements.