LexShares, a fintech platform that enables individuals and institutions to invest in litigation, announced on Thursday it has launched the LexShares Marketplace Fund I (LMFI). LMFI is LexShares’ first marketplace fund, which enables investors to gain exposure to multiple litigation finance assets through one investment vehicle.
Launched in 2014, LexShares describes itself as a platform that connects accredit individual and institutional investors with plaintiffs involved in lawsuits to make investments in their cases. The platform noted that if the plaintiff prevails, by adjudication or settlement, investors receive a portion of the recovered proceeds proportionate to their investments. Jay Greenberg, Co-Founder and CEO of LexShares, stated:
“Since inception, investor demand in our singular case offerings has been very strong. LMFI is a natural extension for LexShares in response to consistent feedback from investors who want greater access to multiple legal claim investments which are uncorrelated with capital markets.”
LexShares noted that to date more than $16 million has been invested in lawsuits through its platform across 40 case offerings. Max Volsky, Co-Founder and Chief Investment Officer at LexShares, also commented:
“We are excited to bring an unprecedented level of access to our investors in this growing asset class while also providing critical financial resources to plaintiffs and their legal teams. LMFI will bolster LexShares’ ability to help plaintiffs with strong cases obtain redress against much better funded adversaries, allowing claims to be adjudicated based on their merits rather than financial resources.”
The platform added that the Investment opportunities posted on its site are offered by WealthForge Securities, LLC.