A California-based legal finance company, Tribeca Capital, is expanding its lending portfolio after securing a $50 million funding line from the Irish specialist funder, Nera Capital. This new partnership with the Dublin-based Nera Capital will focus on providing financing for anti-trust claims and law firm portfolios. These initiatives aim to prevent marketplace monopolies and assist law firms in managing cash flow and reinvesting in new cases.
Tribeca Capital has been a significant player in litigation funding, primarily supporting plaintiffs in personal injury suits, including cases involving dangerous drugs and defective medical equipment. The partnership with Nera Capital will enable Tribeca to diversify its funding efforts and address new types of claims. This expansion will also create five new positions within Tribeca to manage the increased workload.
Rory Donadio, CEO of Tribeca Capital, emphasised the importance of commercial litigation funding in ensuring legal proceedings’ smooth progression and access to justice. He expressed enthusiasm about the new partnership, highlighting its potential to help individuals and businesses navigate complex legal challenges effectively.
Nera Capital, which operates in Manchester and the Netherlands in addition to Dublin, has successfully settled several major claims in the US and is currently financing multiple ongoing claims. The collaboration with Tribeca Capital marks a significant step in Nera’s continued expansion into the US market.
Aisling Byrne, Director of Nera Capital, noted that the partnership aligns with their core values of innovation and integrity. She expressed excitement about the growth opportunities and the potential for global impact through this strategic alliance. This partnership reinforces both firms’ commitment to using litigation finance responsibly and making a positive impact on the legal landscape.