With London-based Woodsford choosing Philadelphia for its U.S. base of operations this week, there's a new, much bigger, litigation funder in town. And that could bring a change in how Philadelphia litigators view and use third-party financing.

Litigation funding isn't entirely new to Philadelphia, as smaller investors and out-of-state funds have gotten involved in a number of cases, lawyers said. Several players in Philadelphia's litigation landscape said Woodsford's target market—litigation boutiques with claims between $10 million and $50 million—best describes business litigators, and particularly intellectual property practices.

“In terms of Philadelphia, probably more litigation funding has been on the personal injury or mass tort side,” said personal injury lawyer Max Kennerly. “We haven't seen in Philadelphia this type of large-scale business funding.”