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Validity Welcomes Marlon Becerra and Shao-Jia Chang for the 2021 Equal Access Fellowship

Validity Finance is pleased to welcome Harvard law students Marlon Becerra and Shao-Jia Chang for its 2021 Equal Access Fellowship. The program, in its third year, provides a 10-week paid summer fellowship to first-year law students of diverse backgrounds.

The Equal Access Fellows spend the first half of their summer at Validity learning basic principles of litigation funding, and the second half working at a legal non-profit of their choice. Validity, which covers Fellows’ salary for the entire 10-week program, is one of the only litigation funders to provide such a program for first-year law students.

Mr. Becerra and Ms. Chang will both work at Validity for the first five weeks of their fellowship, from June 1 through July 3. They will assist in analyzing potential case investments, participating in meetings with claimants and lawyers, and conducting legal research on topics related to litigation and dispute funding. Like many major law firms, Validity is introducing a hybrid return to work, mixing in-person visits to its New York office with remote work, as the rest of its team has been doing in recent months.

“We’re proud to have Marlon and Shao join us as Equal Access Fellows for the summer of 2021,” said Validity Finance founder and CEO Ralph Sutton. “Both have outstanding backgrounds, including personal histories that may not have suggested they’d end up at one of the nation’s top law schools. We’re also pleased to have arrived at a point in the pandemic where we can offer an in-person experience for Marlon and Shao.”

The two Fellows were chosen from a pool of 36 applicants from 18 top-tier law schools. Candidates submitted academic transcripts and essays addressing their interest in litigation funding and describing how they have overcome personal challenges.

Mr. Sutton commented, “Given the past year’s events — pandemic-related and in terms of social justice — there is a heightened need for young lawyers interested in helping to expand equal access to the civil justice system, which is one of Validity’s core mandates as a litigation funder.”

About Equal Access Fellow Marlon Becerra

A native of Jackson Heights, New York, Marlon was the first member of his family to attend college. He obtained his B.A. in Economics from Political Science from Hampshire College and is now a rising second year student at Harvard Law.

Having to return to New York in the middle of his first year of law school, Marlon created an initiative called Civic Engagement and Social Justice for Legal Outreach, Inc. The non-profit teaches New York City high school students of color how to be more proactive leaders in addressing social issues. “As many of the students come from the inner-city, they are particularly interested in addressing the obstacles preventing them from having an equal opportunity to succeed in high school and in college,” he wrote in his personal statement. “I partnered with attorneys from firms across the city to support the students’ efforts to develop and implement campaigns to address their social justice issues.”

During the summer of 2020, Marlon worked for the NYC Department of Social Services’ Employment Law Division. As he notes, “I had the opportunity to write a memorandum recommending how COVID-19 guidelines will impact the agencies’ accommodation policies. I saw the importance of considering people’s access to resources and justice, as we focused on urgent issues impacting one of the city’s largest agencies that both hires and serves primarily minority communities.”

At Harvard, Marlon is a member and Section Representative of the law school’s chapter of the American Constitutional Society for Law and Policy, which promotes progressive legal change in order to realize economic and social justice. He is also a member of La Alianza, a student-run organization composed of Latinx and Latin American students interested in issues affecting the Latinx community at Harvard Law, and a member of HLS First Class, a student affinity group for first generation law students.

About Equal Access Fellow Shao Chang

Shao Chang grew up in a rural Northern California town of only 4,500 residents, where she notes, “few families lock their front doors, and many people proudly leave their keys in the ignition.” She writes of frequent bias against her own parents and her own early struggles with proficiency in English.

Shao obtained her B.A. in Psychology and Legal Studies from the University of California, Berkeley, in 2017. She received Dean’s Honors and Highest Honors in Legal Studies, and is a member of Phi Beta Kappa.

Following college, Shao spent several years as a field representative and aide for Napa-area Congressman Mike Thompson. She recalled taking on projects and facing circumstances that were considered too difficult to accomplish in rural parts of the district, which included her hometown. Motivated by a desire to increase equity and access, she asserts, “I did not believe that infeasibility is a reason not to try, especially when it came to the neediest area in the district.”

At Harvard Law, Shao is the External Vice President of the school’s Mock Trial Association and Willem C. Vis Moot Team, and is a sub-citer for the Harvard Journal on Legislation and the Harvard Negotiation Law Review. She is also a member of the Social Committee of the Asian Pacific American Law Students Association at Harvard, a member of the Reproductive Justice Team of the Mississippi Delta Project at Harvard, and serves on the board of the Women’s Law Association.

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.validityfinance.com.

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Sentry Expands Free Funding Market Search for Litigators

By John Freund |

Sentry Funding’s free tool enabling litigators to instantly search the funding market on behalf of clients has been expanded.

Sentry’s free ‘decision in principle’ feature enables lawyers to evidence to clients that they have conducted a broad market search, even if funding is not ultimately taken out.

Having deployed £125m in funding across a range of case types, Sentry now has access to an even broader funding marketplace, covering 34 global jurisdictions. Finance is provided by 13 funders, five of which are members of the Association of Litigation Funders.

With the recent addition of Sentry’s first US-based funder, the US offering will now be expanding over the next few months. 

A faster process

Sentry has deployed the latest technology to make the search for funding even easier. 

  • The intuitive application process now only asks questions relevant to previous answers, saving lawyers time.
  • The commercial marketplace has been redeveloped with 63 new data points added to the funder criteria matrix - improving the accuracy of case / funder matching
  • Sentry has also begun building out its AI capabilities, starting with an automated auditing tool for live case progression audits. 

Tom Webster, chief executive officer at Sentry Funding, said:

‘By broadening our reach and speeding up the process, we’re making it even easier for lawyers to raise funding. We’re also giving litigators an easy way to show clients they have fully researched the market, rather than just approaching one or two funders. 

‘The service is free to use, so even if clients decide they do not ultimately want funding or if none is available for that case, for the lawyer, it makes sense to use our “decision in principle” feature, so they can put evidence on file that they did check the market.’

Sentry Funding is an SaaS (software as a service) technology provider that gives solicitors access to a diverse marketplace of litigation funders. It works with solicitors, funders and third-party providers to ensure claimants are getting the most efficient service for their funding needs. 

The Sentry Portal also acts as a case management system that runs a transparent digital case file for solicitors, funders, after-the-event insurance providers, barristers, cost lawyers and other relevant third parties.

NorthWall Capital Hits €2.9 B AUM on Private Credit Momentum

By John Freund |

NorthWall Capital has rocketed past €2.9 billion in assets under management after pulling in an additional €1.6 billion of institutional capital in 2025 alone. The London-based alternative credit manager says the surge reflects allocators’ intensifying hunt for scaled, multi-strategy platforms as Europe’s banks retrench and borrowers seek bespoke sources of credit.

A press release from NorthWall Capital details first-close totals across four distinct strategies. The flagship Credit Opportunities fund secured €731 million—already eclipsing its prior vintage—while the newly launched Senior Lending vehicle raised $503 million, translating to roughly $750 million of deployable firepower once leverage is applied. Asset-Backed Opportunities collected €252 million for collateral-rich loans in sectors underserved by traditional lenders, and the specialist Legal Assets platform locked down $169 million to extend the firm’s law-firm lending programme.

Founder and CIO Fabian Chrobog said the fundraising validates “the consistency of our approach” and NorthWall’s ability to craft solutions that resonate with investors and counterparties alike. With headcount slated to hit 40 by year-end, the firm plans to lean further into complex, situational credit born of bank deleveraging, regulatory shifts and sponsors’ need for certainty of execution.

Victory Park Expands Legal Credit Leadership with Maleson Promotion

By John Freund |

Victory Park Capital (VPC), a global alternative asset manager specializing in private credit, has announced that Justin Maleson will expand his role to Managing Director, co-heading the firm’s legal credit investment strategy. The promotion underscores VPC’s ongoing investment in its legal finance capabilities and follows Maleson’s initial appointment in 2024 as Assistant General Counsel.

An announcement from Victory Park Capital details Maleson’s new responsibilities, which include sourcing, analyzing, and managing investments across legal assets, while maintaining oversight of the firm’s legal operations. He joins Chad Clamage in co-leading the strategy, working alongside team members Hugo Lestiboudois and Andrew Pascal, under the continued oversight of VPC CEO and founder Richard Levy.

Maleson brings a strong background in litigation finance and commercial law to the position. Before joining VPC, he served as a director at Longford Capital, where he specialized in originating and managing litigation funding transactions. His earlier tenure as a litigation partner at Jenner & Block further deepened his exposure to complex legal matters, equipping him with the expertise needed to navigate the nuanced legal credit space.

VPC’s legal credit team emphasizes an asset-backed lending model, prioritizing downside protection and predictable income streams. The firm aims to capitalize on inefficiencies within the legal funding market by leveraging its internal expertise and broad network of relationships. With Maleson’s appointment, VPC signals its intent to further scale its legal credit strategy, positioning itself as a key player in the evolving legal finance sector.

Maleson’s elevation comes at a time of increasing sophistication in litigation finance, where experienced legal minds are playing a pivotal role in portfolio construction and risk management. As VPC bolsters its leadership, the move may foreshadow further institutionalization of legal asset investing and heightened competition in a maturing market segment.