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Validity Finance Strengthens Investment Team and Corporate Governance

January 30, 2019

Validity Finance Strengthens Investment Team and Corporate Governance

NEW YORK (January 29, 2019) – Litigation funder Validity Finance has made a notable addition to its growing investment team with the arrival of portfolio counsel William C. Marra in New York. The firm also announced a prominent addition to its governance structure, with Allen Fagin, formerly chair of Proskauer Rose LLP, joining Validity’s board of directors.  Finally, Validity has retained former New York federal Judge John Gleeson, a partner at Debevoise & Plimpton LLP in New York, as outside counsel to advise on investment opportunities. Launched last June with an initial $250 million in committed capital, Validity has built a substantial portfolio of investments in commercial disputes, partnering with business claimants as well as major law firms in helping finance and monetize their litigation matters. “As we continue to ramp up our business and scale our portfolio, we’re pleased to announce an outstanding new member of our professional team and welcome a distinguished name to our board and a distinguished adviser to our investment committee,” said Validity CEORalph Sutton. William Marra joins Validity from noted Washington, D.C. litigation boutique Cooper & Kirk, following judicial clerkships for Justice Samuel Alito of theU.S. Supreme Courtand Judge William Pryor of the U.S. Court of Appeals for the Eleventh Circuit. With a background litigating complex commercial, regulatory, and constitutional cases, Mr. Marra will help Validity review potential portfolio investments and advise clients and law firms on cases where funding may help ensure fair resolution. He received his J.D., magna cum laude, from Harvard Law School, where he was Articles Editor of the Harvard Journal of Law & Public Policy. “Will’s combination of high-stakes trial practice and experience advising on judicial opinions at the highest levels of the law is a decided advantage in helping our clients crack their toughest legal challenges with funding and strategic advice,” saidJulia Gewolb, Validity’s Director of Underwriting. Marra is the fourth Validity staffer to have served as a federal clerk and adds to the firm’s roster of former practicing trial lawyers which include former litigators from Kirkland & Ellis, Boies Schiller Flexner and Gibson Dunn, among other firms. Judge John Gleeson will advise Validity in its consideration of investment opportunities. A partner at Debevoise and a former litigator with Cravath, Swaine & Moore, Mr. Gleeson served as an Assistant U.S. Attorney for the Eastern District of New York, before being appointed a judge on the Eastern District by President Clinton in 1994. Stepping down from the bench in 2016, Mr. Gleeson continues to work on major trial and appellate matters, both civil and criminal, as a litigation partner at Debevoise. “With over 22 years’ experience on the federal bench, Judge Gleeson’s perspective on trial strategy and mechanics is unparalleled. In advising Validity, he will bring this wealth of experience to enhance our investment decisions,” Mr. Sutton commented. Allen Fagin joins Validity’s eight-member Board of Directors. One of the country’s leading labor and employment litigators, Allen represented a broad range of companies and organizations in workplace related matters. In 2005, Allen was elected Chair of Proskauer Rose, a position that he held for six years. Following his retirement from Proskauer, Mr. Fagin has served as Executive Vice President of the Union of Orthodox Jewish Congregations of America. “It’s an honor to have Allen Fagin take a seat on our board – his insights as a lawyer and his experience overseeing one of the country’s preeminent law firms, would be welcome enough,” Mr. Sutton said “but Allen also has a strong social conscience and ethical fabric, and we welcome his contributions advancing best practices in dispute funding.” Mr. Sutton said he expects Validity to introduce some new funding models in the coming year, including novel financing arrangements for law firms to undertake high-risk cases as well as initiatives for greater funding of defense-related matters. About Validity: Validity provides businesses, law firms and individuals with non-recourse funding for a wide variety of commercial litigation. Founded by litigation finance pioneer Ralph Sutton, Validity believes that capital and legal expertise combine to help solve legal problems on behalf of clients. With a mission to make a meaningful difference in the legal system by focusing on client needs, Validity stands out with a relentless focus on fairness, innovation and clarity.  For more, visitwww.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.