Litigation Funding startup FIGHTRIGHT launches INR 100 crores fund for HNIs
FIGHTRIGHT Technologies, a LegalTech startup that leverages AI and ML-backed analytics to fund commercial litigations, has launched a fund with claims under management of INR 100 crore.
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 annualized ROI is expected to be upwards of 30%.
Talking about the launch, FIGHTRIGHT’s Founder & CEO, Nitin Jain said, “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.”
Founded in 2020 by Jain and Vishal Mangal, Kolkata-based FIGHTRIGHT’s proprietary AI and ML technology provides comprehensive litigation analytics, enabling the company to analyze and evaluate litigation risks and opportunities with unparalleled accuracy. By leveraging this cutting-edge technology, FIGHTRIGHT is able to make informed decisions about which commercial claims to fund, maximizing the chances of success for both the company and its clients.
After establishing its presence in Kolkata, the company has already established its Bengaluru office and is now expanding its physical touchpoints to Delhi NCR and Mumbai in the next few months.
FIGHTRIGHT’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, Co-founder & COO, of FIGHTRIGHT.
The SPV that went live earlier this month has already received 100% of the commitment, Jain said.
FIGHTRIGHT targets mid-market companies, including MSMEs (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 INR 250 crores in the current fiscal.
