As the litigation funding market continues to embrace an increasingly diverse and complex set of deals and partnerships, established industry leaders are looking at ways to provide services that can connect different parties to maximise the number of funding opportunities. In a recent interview, the founder of the legal finance consultancy Versaras, discusses his plans to ‘save law firms and clients time and money’ and help guide them through the continuously expanding range of funding options available.
An LFJ Conversation with Michael Kelley, Partner, Parker Poe
As the litigation funding market continues to embrace an increasingly diverse and complex set of deals and partnerships, established industry leaders are looking at ways to provide services that can connect different parties to maximise the number of funding opportunities. In a recent interview, the founder of the legal finance consultancy Versaras, discusses his plans to ‘save law firms and clients time and money’ and help guide them through the continuously expanding range of funding options available.
Speaking with Commercial Dispute Resolution, Matthew Denney, founder and principal at Versaras, spoke about the current state of the litigation funding industry, describing it as a market that is ‘changing all the time’ with ‘new entrants, new platforms and new attitudes’. Against this backdrop, Denney launched Versaras as a solutions provider for funders, lawyers and clients, which can provide guidance and advice as to the best route forward.
Denney highlights the time and cost savings that Versaras can provide to lawyers who are looking to engage with funders, claiming that by utilising his services these firms can instead use that time saved to ‘focus on that case or other cases, or business development initiatives.’ Denney acknowledges that many law firms have experience when it comes to selecting the right funding option, but that by using a third-party with the right experience and knowledge to evaluate the best course of action, ‘it makes everything more efficient for the client and the firm.’
In the same interview, Denney suggests that Versaras will also explore other uses of third-party funding outside of litigation, such as financing planning applications for property development. Discussing the interchangeability of this type of funding, Denney states ‘there is not a huge amount of difference between an outcome of a court case or an arbitration hearing, or a planning application.”
