Irish and American litigation finance providers partner to deploy $50m
US litigation finance firm Tribeca Capital has set up a new division to fund anti-trust claims after receiving investment from Dublin-based Nera Capital.
The partnership between the two businesses will provide a $50m (£39.3m) facility to fund anti-trust claims with a focus on fair competition and preventing marketplace monopolies.
They will also fund law firm portfolios, which is expected to unlock capital to reinvest in new cases.
As a result, Tribeca Capital will hire for five new positions. Tribeca Capital, launched in 2017, is headquartered in Los Angeles, California.
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“Commercial litigation funding plays a crucial role in ensuring the smooth progression of legal proceedings by covering essential expenses. It serves as a valuable financial tool in facilitating smoother case management and access to justice,” said Rory Donadio, chief executive of Tribeca Capital.
Nera Capital, which has offices in Manchester and the Netherlands, has been increasingly expanding its business into the US, settling four major claims in the country during the last 18 months. It is also financing a further 12 claims and will partner with leading US law firms in the mass litigation market.
Aisling Byrne, director at Nera Capital, said: “This partnership with Tribeca underscores the dedication of our exceptional team and reaffirms our commitment to making a positive impact globally, through the responsible use of litigation finance.
“Our continued expansion into the United States is a pivotal point for us and it opens a lot of doors to exciting new possibilities. This strategic alliance not only strengthens our market position but also aligns perfectly with our core values of innovation and integrity. We are excited about the opportunities it presents for growth and global impact.”
Nera Capital was founded in 2011.
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