The fund, a special purpose vehicle, will invest in 15-20 commercial cases with an average ticket size of Rs 5-7 crore for a tenure of two to three years. The fund would allow investors, especially high-net-worth individuals, to invest in these litigation cases where the annualised ROI is expected to be upwards of 30%.
“We have seen a significant increase in demand for litigation funding, and our proprietary AI and ML-backed technology gives us a definitive edge in this space. We are confident that our unique approach will provide our clients with the resources they need to pursue and win their claims successfully,” Fightright’s founder and CEO, Nitin Jain said.
The SPV that went live earlier this month has already received 100% of the commitment, Jain said.
Founded in 2020 by Jain and Vishal Mangal, the Kolkata-based startup’s proprietary AI and ML technology provides litigation analytics, enabling the company to analyse and evaluate litigation risks and opportunities with unparalleled accuracy.
Through this technology, the company is able to make decisions about which commercial claims to fund, maximising the chances of success for both the company and its clients.
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After establishing its presence in Kolkata, the company launched its Bengaluru office and is now expanding its physical touchpoints to Delhi-NCR and Mumbai in the next few months.The company’s litigation funding model provides clients with funding to cover litigation costs, including legal fees, court costs, and other expenses. The company undertakes the risk associated with the litigation and only recovers its investment if the claim is successful.
This model allows clients to pursue their claims without the financial burden that the litigation process entails and provides them with the resources needed to achieve a successful outcome.
“Our mission is to provide access to justice and level the playing field for clients who may not have the financial resources to pursue their claims. We remain committed to providing more claimants with the resources they need to succeed,” said Vishal Mangal, cofounder and COO, of Fightright.
The company targets mid-market companies, including micro, small and medium enterprises and individuals having any kind of commercial dispute and requiring funding for litigation up-to INR one crore. The company has already funded claims worth Rs250 crores in the current fiscal.