TEL AVIV (June 2, 2020) – Leading U.S. litigation funder Validity Finance has opened its first international office, in Tel Aviv, recruiting prominent international-disputes lawyer Eli Schulman to head its Israel operations. Validity is the first U.S.-based funder to open an office in Israel.
As co-founder of boutique litigation firm Schulman & Charish LLP, with affiliates in New York and Israel since 2010, Mr. Schulman has extensive experience representing Israeli clients in complex U.S. business litigation and international arbitration. He has advised companies across Israel’s dynamic high-tech sector, as well as those in established industries and the State of Israel itself.
Validity’s new Israel office marks the company’s fourth, alongside U.S. offices in New York, Chicago, and Houston.
“This is a new day in Israel. We’re pleased to be the first U.S. funder on the ground, helping Israeli businesses secure critical capital to monetize commercial disputes and manage economic risk in a way that doesn’t drain operations and growth,” said Validity CEO Ralph Sutton.
“We’re especially pleased to have Eli Schulman on board to lead our efforts in Israel. In addition to being an outstanding international disputes lawyer with a track record of success, he has experience using litigation funding in his own practice. With his reputation and appreciation for the needs of Israeli clients, Eli is uniquely qualified to help Israeli companies and law firms finance disputes on fair and ethical terms,” commented Sutton, who has known Mr. Schulman for years.
A frontier for entrepreneurship, Israel leads the globe in per capita R&D spending, with a record number of startups, access to venture capital and more companies listed on the NASDAQ than China. Validity expects to invest in outbound cases on behalf of Israeli companies involving a range of contractual disputes, patent infringement, and other matters resolved in U.S. courts or international arbitration.
Dispute Funding During COVID-19 Crisis
Validity, like many other companies, has been operating remotely since mid-March. It has seen a significant increase in new case leads since then. These leads arise from law firms looking to stabilize their operations and a large number of clients in newfound need of capital for continued litigation.
Validity’s Chief Risk Officer, Dave Kerstein notes, “We are committed to sustaining clients and law firms during the pandemic, and, as the sole US-based firm to operate in Israel, we anticipate many opportunities.”
Israel’s handling of the coronavirus crisis has won praise across the globe with a wider return to business expected in the near term, and attending litigation and arbitration in need of capital.
Mr. Schulman is recognized among leading dispute-resolution practitioners worldwide by Legal 500 and Chambers, which most recently described him as “dedicated and sophisticated.” He has been active in the international-arbitration community, including as a member of the ICC Commission on Arbitration and ADR. He is a fellow of the Chartered Institute of Arbitrators.
Earlier in his career, Mr. Schulman clerked for then-Chief Judge Michael B. Mukasey of the U.S. District Court for the Southern District of New York. Mr. Schulman worked in elite litigation practice at Cahill Gordon in New York and Kellogg Hansen in Washington, D.C. Mr. Schulman also served in the Department of International Affairs at the Israeli Ministry of Justice.
A former Fulbright fellow at The Hebrew University of Jerusalem, Mr. Schulman received his A.B. from Columbia University and holds a J.D. from Harvard Law School.
“I’m delighted to join Validity’s exceptional team of former trial lawyers and investment professionals to expand dispute funding arising in Israel,” Mr. Schulman said. “While running a New York- and Israel-based disputes firm the past decade, I saw first-hand the need for companies to finance legal challenges. I’m excited to be Validity’s point person for disputes that emanate from Israel.”
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. Validity was founded in 2018 with $250 million in committed, one of the largest first-round capital raises in the U.S. market. The firm announced an additional $50 million in capital in 2019. 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, innovation, and clarity. For more, visit www.validity-finance.com.
