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09 February 2015

Augusta throws down the gauntlet on SME litigation funding

The battle for litigation funding marketshare is hotting up as Augusta Ventures claims it will dominate SME funding and become the company taking on the most cases.

SMEs are the target of litigation funder Augusta Kritchanut

This week it has hired a lawyer and economist for its London office.  The company, which boasts a number of legal glitterati as shareholders, aims to take on 20 new cases a month by the end of 2015. In its first year, it has committed £8m to 36 cases and established partnerships with over 40 law firms. It now has over £50 million available in working capital to fund new cases. While other funders focus on a handful of multi-million pound investments in big cases, Augusta says it  invests between £10,000 and £600,000 in a broad range of commercial litigation matters.

Legal backers

The company is backed by private funds, a Canadian family office and Metric Capital Partners, a pan-European private capital fund manager whose partners include former Clifford Chance managing partner Peter Cornell. Augusta’s shareholders include David Cheyne, former senior partner of Linklaters, and Martyn Bowes, ex-head of real estate financing at Barclays. It has also formed a case review panel led by former head of dispute resolution at Speechly Bircham, Stephen Dobson, former High Court Judge, Sir Raymond Jack QC, Baker & McKenzie’s former Global Dispute Resolution head, Nick Pearson, and barrister Richard Davis of Hogarth Chambers.

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