Tel Aviv cityscapeUS Litigation Funder Launches in Israel
Israel's litigation funding sector has grown in the past year, with U.K. and U.S. funders setting up in the region.
June 03, 2020 at 11:49 AM
3 minute read
U.S.-based litigation funder Validity Finance has opened its first office in Tel Aviv, Israel, the company has announced.
In a statement, New York-headquartered Validity said international-disputes lawyer Eli Schulman would head up the Israeli franchise and oversee office operations. Schulman co-founded U.S. boutique litigation firm Schulman & Charish.
Focusing on disputes between start-ups, Validity said that it sees Israel's entrepreneurial dynamism as making it a world leader in per capita R&D spending, with a record number of startups, and more companies listed on the NASDAQ than China.
It expects to invest in outbound cases on behalf of Israeli companies in a range of contractual disputes, patent infringements, and other matters resolved in U.S. courts or international arbitration, it said.
With U.S. offices in New York, Chicago, and Houston, Validity's Tel Aviv office will be its fourth.
It is not the first time a U.S. litigation funder has launched in the country. In 2018, New York-based law firm, Kobre & Kim, teamed up with U.S. litigation finance company, Bentham IMF, to provide $30 million to fund cross-border lawsuits for Israeli startups, according to a joint statement.
Meanwhile, the U.K.'s Woodsford Litigation Funding launched in Tel Aviv last year.
Validity CEO Ralph Sutton said in a statement: "This is a new day in Israel. We're pleased to be the first U.S. funder on the ground, helping Israeli businesses secure critical capital to monetise commercial disputes and manage economic risk in a way that doesn't drain operations and growth."
"We're especially pleased to have Eli Schulman on board to lead our efforts in Israel. In addition to being an outstanding international-disputes lawyer with a track record of success, he has experience using litigation funding in his own practice."
Also based in Tel Aviv, the Israeli Litigation Funding Fund, set up in 2016 by Value Base investment firm, claims to invest in funding a variety of legal proceedings, including courtroom litigations and arbitrations, in Israel and abroad.
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