Litigation funder Augusta Ventures says it has amassed assets of £585m to take advantage of what it called ‘an unprecedented pipeline of opportunities in high value litigation and dispute scenarios’. The announcement followed the successful completion of a £250m third round of fundraising from global investment houses.
The oversubscribed funding round attracted investments from Magnetar Capital and Northleaf Capital Partners, as well as Beach Point Capital Management, the anchor investor in the previous Augusta funding.
Louis Young, chief executive of Augusta Ventures, said: ‘We are delighted to announce this new £250m capital raising as Augusta seeks to expand its capital resources to meet the increased demand for legal related finance across all sectors and geographies. We have never seen so many strong opportunities.’
Market analysts expect a global surge in litigation following the pandemic, both from pent-up demand and from new matters arising from disruption to business over the past 18 months.
Augusta Ventures, founded in 2013, says it has financed more than 240 investments in litigation, across multiple jurisdictions. In the UK it is currently financing an opt-out claim for £480m brought by Which? on behalf of 29 million consumers against microchip giant Qualcomm.