Funding companies announce increased capital
9th May 2012
Two commercial litigation funding companies have announced that they have increased their capital significantly after reporting a big rise in demand for their services.
Spokespeople from both Harbour Litigation Funding and Vannin Capital have described how, more and more, litigation claimants are looking towards third party groups to help get their claims processes underway, and that the companies have now decided to put a great deal more money into their own operations as a result.
Vannin Capital has upped its annual litigation fund to £100m from £25m, whilst an extra £120m has been put aside for the same use at Harbour Litigation Funding. Growth will not just be limited to the UK, either, with the companies’ international operations now set to benefit from a much wider service.
Those with solicitor jobs in London are beginning to endorse such external funding, according to Vannin Capital founder Nick Rowles-Davies, meaning that business for companies like his is expected to improve yet further in the coming months and years.