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Litigation funder Validity Finance secures $100M in new capital, adds first time corp. counsel from Fried Frank

July 28, 2020

Litigation funder Validity Finance secures $100M in new capital, adds first time corp. counsel from Fried Frank

NEW YORK (July 28, 2020) – Looking to meet growing demand among businesses and law firms to finance commercial disputes, litigation funder Validity Finance has raised $100 million in additional capital. The firm also announced the arrival of experienced transactional attorney Jason Listhaus to fill the new role of in-house corporate counsel as its portfolio continues to grow. Validity’s additional capital comes from a mix of institutional and private investors, including the firm’s founding private equity sponsor TowerBrook Capital Partners.  Validity CEO Ralph Sutton commented: “We’ve seen a pronounced increase in demand this year fueled, in part, by the pandemic. Businesses and law firms are experiencing unprecedented cost constraints and welcome our backing to pursue or monetize claims. Our latest capital raise will help us continue to meet our clients’ needs for funding their most important litigation matters in the current challenging economic environment.” Since launch, Validity has committed more than $125 million in dozens of deals across a range of litigation and arbitration matters and jurisdictions. Mr. Sutton noted that large law firms have increasingly been drawn to third-party funding during the slowdown, as brand-name practices with large litigation platforms see the value in having individual clients receive funding and also of having the direct backing for a basket of cases while they stabilize finances and preserve cash. “Funding had already become mainstream in the last several years but the pandemic has hyper-charged the acceptance and use of contingent, non-recourse funding by major law firms and well-capitalized clients,” he said. Validity has funded a broad spectrum of litigations and arbitrations: including breach of contract, patent infringement, breach of fiduciary duty, theft of trade secrets, domestic and international arbitration, judgment/asset enforcements, insurance coverage cases and others. A growing allocation is going towards portfolios of cases handled by law firms. Validity also announced that experienced finance and transactional attorney Jason Listhaus has joined as its first corporate counsel. The New York-based Mr. Listhaus will help manage deal-side aspects of Validity’s investments, including helping structure and negotiate funding arrangements. He joins the firm’s bench of former trial lawyers who work on underwriting, risk and case review. His arrival helps the firm transition from using outside counsel to handle its expanding book of transactions. “Jason is a great addition as we grow our capital base and pace of investments, not only in the U.S. but internationally,” said Validity’s Chief Risk Officer Dave Kerstein, noting the firm recently launched an Israeli office in Tel Aviv. “As our first in-house corporate counsel, Jason will help streamline the investment process and also lower transaction costs. As a corporate lawyer with a background in Big Law, he has a strong grasp of deal advisory details and investment strategy.” Mr. Listhaus was previously a member of the Corporate department at Fried, Frank, Harris, Shriver & Jacobson, as well as an associate in the Financial Services group of Cadwalader, Wickersham & Taft. He earned his joint J.D./M.B.A degree from New York University in 2013. Mr. Listhaus earned his B.A. degree in Economics, magna cum laude and Phi Beta Kappa, from NYU in 2009. Validity Finance has been steadily expanding in 2020. In June, Validity opened its first international office in Israel, the company’s fourth, alongside its U.S. offices in New York, Chicago, and Houston. The Israel office is headed by international-disputes lawyer Eli Schulman in Tel Aviv. Earlier this year, in March, attorney Joshua Libling joined Validity as a portfolio counsel in New York. About Validity: Validity is a commercial litigation finance company that provides non-recourse investments for a wide variety of commercial disputes. Validity’s mission is to make a meaningful difference in our clients’ experience of the legal system We focus on fairness, innovation, and clarity. For more, visit www.validity-finance.com.

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Announcements Commercial

Loopa Finance Wins at the Lexology European Awards 2026 in the Litigation / General Counsel Category

By John Freund |

Loopa Finance has been recognized as the winner in the Litigation – General Counsel Team category at the Lexology European Awards 2026, one of the leading recognitions in the international legal sector.

The award was received in London by Ignacio Delgado, General Counsel Europe at the firm, on behalf of Loopa Finance’s European team, composed of Ignacio Delgado (General Counsel Europe), Marina Gouveia (Investment Manager), Fernando Pérez Lozada (Senior Investment Manager), and Fernando Folgueiro (Managing Partner).

The Lexology European Awards recognize outstanding legal teams across the region through a methodology that combines independent research, quantitative and qualitative analysis, and thousands of nominations supported by clients and industry peers, as well as the annual research conducted by the Lexology Index (formerly Who’s Who Legal) and Client Choice.

The selection process is based on performance evaluations related to effective communication, commercial understanding, technical expertise, strategic management, and team strength, and is supported by a global community of more than 940,000 subscribers.

This recognition positions Loopa Finance’s European team among the leading practitioners in complex litigation and strategic legal management in Europe.

“This award reflects the strength of a team operating across two continents that understands litigation not only from a legal perspective, but also through financial analysis and risk management. It is the result of collective work and a rigorous, strategic approach to structuring complex disputes,” said Delgado during the ceremony.

More Than an Award: Validation of a Model

The award comes at a time of consolidation for the firm. Loopa Finance recently completed its rebranding process, evolving from Qanlex to Loopa Finance and reinforcing an identity aligned with its growth in continental Europe and its broader international positioning.

It also coincides with the closing of Fund III, raising €65 million to finance complex litigation and arbitration across Europe and Latin America, significantly expanding the firm’s investment capacity and supporting the continued growth of its platform in the region.

This milestone adds to the firm’s recent rankings, including its Band 1 classification by Chambers & Partners in Latin America and Europe, its recognition as “Highly Recommended” by Leaders League across multiple jurisdictions, and the inclusion of members of its team among the Thought Leaders in Third-Party Funding by the Lexology Index. Together, these results confirm the strength of Loopa Finance’s model and the consolidation of its team as a reference in the strategic financing of disputes at an international level.

About Loopa Finance

Loopa Finance is an investment fund specializing in the financing and monetization of litigation and arbitration across continental Europe and Latin America, supported by a technology-driven model and rigorous risk analysis. The firm provides capital to cover legal costs or monetize ongoing claims through non-recourse structures, where the recovery of the investment depends exclusively on the successful outcome of the case, assuming the financial risk of the dispute while fully aligning its interests with those of clients and law firms.

Announcements Commercial

Pravati Capital Partners with SEI to Bring Litigation Finance to Registered Investment Advisors

By John Freund |

One of the oldest litigation finance firms in the United States has announced a strategic partnership aimed at expanding mainstream investor access to the asset class.

As reported by Business Wire via Yahoo Finance, Scottsdale-based Pravati Capital has partnered with financial services firm SEI to provide registered investment advisors with structured access to litigation finance as an alternative investment option. The collaboration will leverage SEI's distribution platform to make litigation funding opportunities available within advisor portfolios.

The partnership reflects growing institutional interest in litigation finance as an alternative asset class. Historically, litigation funding has been difficult for mainstream financial advisors to access on behalf of their clients, with the market largely dominated by specialized funds and institutional investors. The Pravati-SEI arrangement seeks to bridge that gap by creating a more accessible pathway for advisors seeking diversification through non-correlated investments.

The announcement underscores a broader industry shift as litigation finance continues to move from a niche strategy toward greater acceptance within traditional wealth management channels. As the global litigation funding market grows — projected to reach over $25 billion in 2026 — partnerships like this one may signal a new phase of institutional adoption.

Announcements Commercial

Nera Capital Secures £50M Asset Mandate

By John Freund |

Nera Capital has strengthened its litigation finance platform with the onboarding of a new South America-based funding partner committing £50 million across litigation finance and legal assets. The mandate not only expands Nera’s available capital base but also sees the firm formally appointed as asset manager for the new funds, reinforcing its growing role as both originator and portfolio steward within the UK litigation market.

In a press release, Nera Capital announced that the £50 million commitment will be deployed across a range of UK-based claims, with the firm responsible for underwriting, structuring, capital deployment, and ongoing portfolio management. The capital will be allocated in line with Nera’s established investment criteria and risk management framework, targeting carefully selected legal assets. The funding partner, described as having an “extensive track record” in high-yielding special situations investments uncorrelated to traditional asset classes, brings prior experience in litigation finance across South America.

Robin Grant, CFO at Nera Capital, emphasized that the partnership aligns with the firm’s disciplined approach to litigation finance and enhances its ability to deliver attractive, risk-adjusted returns to investors. Aisling Byrne, Director at Nera Capital, highlighted the funder’s blend of financial and legal expertise, noting that the asset manager appointment reflects international confidence in Nera’s ability to identify viable claims and manage them through to resolution.

Established in 2011 and headquartered in Dublin, with offices in Manchester and Holland, Nera Capital provides law firm lending across consumer and commercial claim portfolios and is a member of the European Litigation Funders Association.