LegalPay, India's largest legal and insolvency financier, has launched the country's first-of-its-kind equity fund Justice and Inclusion (JAI) Fund. The approximately $2 million fund would invest in emerging LegalTech companies and start-ups working towards financial inclusion.
Indian litigation funder LegalPay is backing logistics company Brains Logistics in its legal efforts to recover outstanding dues of an undisclosed amount from leading two-wheeler manufacturer Hero MotoCorp, according to BusinessToday.In.
Fintech LegalPay has launched an interim finance healthcare-focused fund for retail investors that grants them fractional ownership, for an investment amount as little as Rs 10,000 per opportunity, in asset-backed legal and debt financing asset classes.
LegalPay, India's first third-party litigation finance company, has announced that it has successfully closed its first arbitration-focused investment vehicle, which will be focused on putting capital into a basket of 8-12 legal cases. It is also now raising funds for a second investment vehicle that will invest in commercial disputes.
India-based litigation financier LegalPay last week announced that it had secured an undisclosed seed funding round led by accelerator VC 9Unicorns to tap an estimated $20 billion legal expense market in the country. Early-stage investment platform LetsVenture also participated in the round, along with angel investors including Ambarish Gupta, founder of New York-based PE-fund Basis Vectors and founder of Knowlarity.
Kundan Shahi, the founder and CEO of LegalPay, the first domestic litigation funder in India, talks to us about the hurdles that have to be overcome for funders in India, who the law firms and organisations are that are leading the litigation finance push, and where opportunities lie for foreign funders.