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Litigation funder completes multimillion-dollar financing
Litigation funder, Augusta Ventures has hit what’s being dubbed a major milestone after completing a multimillion-dollar financing and refinancing with institutional and private investors.
Emma Musgrave
Augusta has announced it has completed £150 million of funding. The move will enable the litigation funder to provide significant growth capital for the business as it enters its next stage of expansion.
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Augusta managing director Robert Hanna said the refinancing will bolster the size and scope of disputes the business will back going forward.
“This financing represents a major milestone for Augusta,” Mr Hanna said.
“We have an attractive pipeline of new cases and a current portfolio which is maturing well. Our relationship pool of quality law firms and other introducers is loyal and growing and the whole team here is excited about the prospects for our business.
“… Augusta’s principal partnerships are with law firms providing funding for legal fees, early stage case funding, insolvency cases, arbitration costs and security for costs bonds. Both individual cases and portfolios of cases are funded through Augusta’s own balance sheet and/or through segregated funding pools.”
Commenting further on the financing, Augusta founder Neill Brennan said: “From Day 1 we have prided ourselves on delivering a bespoke, transparent product for our law firm partners. We have the in-house expertise to give quick, committed responses to enquiries and active support throughout the life of a case”.
“This funding round really allows us to open our shoulders and make more of the disciplines we have worked hard to put in place since we formed the business and which will remain our mainstay going forward.”
