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.

Geetanjali Sethi has joined LegalPay as Vice President - Legal & Risk. Geetanjali was previously a Managing Associate at L&L Partners Law Offices in New Delhi.

Mumbai-based LegalPay has launched a litigation investment product for retail investors. Investors can invest as little as 25,000 Indian rupees (US $337) to get started.

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.