NEW YORK--(BUSINESS WIRE)--LexShares, a commercial litigation finance platform, announced the successful singular closing of LexShares Marketplace Fund I, LLC and LexShares Marketplace Fund I QP, LLC (collectively “LMFI” or “the Fund”) for the Fund’s maximum amount of $25 million. LMFI is LexShares’ first multi-claim fund, which provides investors exposure to multiple litigation finance assets through one investment vehicle. LMFI will primarily invest in legal claims on the LexShares platform as well as other litigation finance opportunities.
“We are grateful for the support from investors and believe the strength of commitments received reflects confidence in our ability to originate, underwrite, and structure high quality investments in legal claims,” said Jay Greenberg, the company’s Co-Founder and Chief Executive Officer. “With LexShares’ strong track record and experienced team, we believe LMFI is well-positioned, and we are excited to begin investing in LexShares’ robust pipeline of opportunities.”
LMFI, comprised of 187 members, includes participation from individuals who have previously invested in LexShares’ single case offerings, as well as a diverse base of investors new to the company’s platform. LexShares’ average case investment size for the past year was $643,750, and the median time to fully fund those case investment opportunities once posted to the platform was under 37 minutes. With LMFI investing in conjunction with a highly active investor base on the LexShares online platform, LexShares is poised to be one of the most active funders in the commercial litigation finance market.
This announcement comes after the LexShares platform completed a $4 million investment in an intellectual property matter, its largest individual case funding since inception. LMFI did not participate in this investment. The plaintiff in the matter is represented by an AmLaw 50 firm. Additionally, the majority of AmLaw 100 firms have now engaged with LexShares.
“This deal indicates both the size of transactions our platform now supports, as well as the caliber of counsel engaging with LexShares for their litigation funding needs,” said Max Volsky, LexShares’ Co-Founder and Chief Investment Officer. “While much of the litigation finance industry remains focused on portfolio deals, LexShares continues to see strong demand from claimants and their counsel for single case funding and robust demand from our institutional and individual investor base to participate in these transactions.”
LexShares is an online marketplace for investing in litigation. It connects plaintiffs in commercial legal disputes with investors to fund their cases. Founded in 2014, LexShares is privately owned with offices in Boston and New York City. For more information, visit www.lexshares.com.
This release may contain “forward looking statements” which are not guaranteed. Investment opportunities posted on LexShares are offered by WealthForge Securities, LLC, a registered broker-dealer and member FINRA / SIPC. LexShares and WealthForge are separate entities. Investments in legal claims are speculative and involve certain risks including but not limited to concentration risk, lack of control over the prosecution of underlying claims and claimants' inability to assert and collect on their claims.