Fenchurch, Altify Partner to Launch LF Token; Advocacy Group Campaigns for Disclosure; CJC Releases Interim Report; JustFund Raises $92M; and more
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Australian Family Law Funder Announces $92M Capital Raise
In an announcement posted on FinTech Australia , JustFund announced a $92 million capital raise that will allow the family law funder to accelerate the growth of its services and expand operations. The capital raise includes $5.7 million in seed round financing led by Xilium Capital , a $75 million senior debt facility from GCI (Global Credit Investments) (GCI), and another $11 million in mezzanine funding from family offices. The announcement also explained that the capital raise included investments from Startmate, The Legal Tech Fund (USA) and Tripple, among other startup investors.JustFund was founded in 2022 by the trio of Andy O'Connor , Jack O'Donnell and Craig Carroll . O’Connor and O’Donnell both formerly practiced as lawyers, whilst Carroll brought his experience as a fintech entrepreneur and investor. According to the announcement, in the two years since its founding, the Sydney-based funder ‘has approved more than $95 million in legal funding to support its clients to access more than $1 billion in relationship property settlements.
CJC Publishes Interim Report and Consultation on Litigation Funding
In an announcement from the Civil Justice Council (CJC), the Litigation Funding Working Group has published the Interim Report and Consultation for its review of litigation funding. As laid out in the report’s foreword, the publication of the Interim Report represents the first phase of the working group’s efforts, and therefore does not contain any recommendations at this stage. The purpose of the Interim Report is to provide the background to the issues being examined, as well as providing the context for the questions in the Consultation.
Lawyers for Civil Justice Launch ‘Ask About TPLF’ Campaign
An announcement from Lawyers for Civil Justice (LCJ) revealed that it has launched a new campaign focused on third-party litigation funding (TPLF) disclosure, called ‘Ask About TPLF’. The initiative calls on courts and parties involved in civil litigation to ask about the presence of any third-party funding in their cases, arguing that it is essential for everyone involved to be aware of potential conflicts of interest and to establish who is controlling the decision-making process in these lawsuits.
LCJ stated that the Ask About TPLF campaign has three objectives:1. Advocate for a clear, uniform rule requiring disclosure of TPLF.2. Encourage courts and parties to ask about TPLF in their civil cases.3. Build the case for a uniform rule by spotlighting the inconsistent – and in some cases inappropriate – responses by courts to motions seeking TPLF disclosure.
Fenchurch Legal Partners with Altify to Launch New Legal Finance Token
Fenchurch Legal , a UK litigation funder for small and medium-sized law firms, has partnered with Altify , a South African investment platform, to offer investors access to Fenchurch Legal’s investments via Altify’s digital platform.
This partnership expands Fenchurch Legal’s reach to a wider investor pool and diversifies its funding sources. Louisa Klouda , CEO of Fenchurch Legal, is excited about this growth milestone.
Sean Andrew Sanders , CEO of Altify, believes Fenchurch Legal's track record in delivering steady returns in legal finance makes them an ideal partner. This partnership makes legal finance, a historically unattainable asset class for most, more accessible.
People Moves
Hannah Sadler Joins GLS Capital Patent Investment Team
Hannah Sadler has joined GLS Capital as a vice president and member of the patent investment team.“We are very happy to welcome Hannah to?GLS Capital?as a vice president and member of our team focusing on patent investments,” said Adam Gill , a GLS Capital managing director, co-founder, and leader of the firm’s patent-related investing. “Attracting top-tier talent is essential for continuing to help our clients achieve success, and Hannah’s background in patent litigation will be invaluable for navigating the complexities of patent investments and helping to drive our mission forward.”
NorthWall Appoints Shannon Cody as Head of Business Development, EMEA
NorthWall Capital (“NorthWall”), a leading credit investment firm delivering private capital solutions to counterparties in Western Europe, today announces the appointment of Shannon Cody as Head of Business Development, EMEA. Shannon will focus on?strengthening relationships with existing global institutional investors, while expanding the firm’s client base through new partnerships. Her efforts will play a key role in driving capital growth across NorthWaII’s core strategies, which include Opportunistic Credit, Senior Lending, Asset-Backed Lending and Legal Assets.
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Thanks for sharing our exciting partnership news with Altify. ??
EU Lawyer, Founder of Clean Up The Internet, Founder of Law For Change, Chair of Trustees at Press Justice Project, Deputy Chair at Reprieve, Senior Advisor Flint Global, Director Stroud Book Festival
1 周Very interesting thanks. Let us know if you would ever like to carry a feature on philanthropic legal funding: https://www.lawforchange.uk/news