Trials & Litigation
Tech-powered investment company Legalist continues to back suits with $415M fund
Technology-powered investment company Legalist said Tuesday it has closed a $415 million legal fund, which is its fourth and largest fund. (Image from Shutterstock)
Technology-powered investment company Legalist said Tuesday it has closed a $415 million legal fund, which is its fourth and largest fund.
Founded in California in 2016, Legalist said the fund will deepen its investment in commercial legal assets, Bloomberg Law reports. The investment company now has $2 billion in assets under management, which is nearly two times the amount that it managed in the past year, according to Bloomberg Law.
“When we launched in litigation finance, we were very much a niche underdog, and I like to think that we have preserved that status over the years, even though we’ve grown and our strategy has grown, as well,” Legalist co-founder and general partner Eva Shang told Bloomberg Law.
Before co-founding Legalist, Shang studied economics at Harvard University. She is also a licensed attorney, and according to Bloomberg Law, se passed the bar exam after four years of “an apprentice-style legal education.”
Legalist, which has about 40 full-time employees, typically funds cases that range from $50,000 to $5 million in investment, Bloomberg Law reports. Its prior fund was $300 million and had more than 250 positions in single cases and portfolios, Bloomberg Law also reports.
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