Third-party funder Juridica has generated £52m from five cases that concluded in the first half of 2014, a 44% rise on the same period last year, its interim results have shown.
All the cases were in its antitrust portfolio, but a further antitrust case was lost, while two of the cases in Juridica’s commercial portfolio “continue to show indications of enhanced risk”, meaning their value has been written down.
At 30 June 2014, the company has invested or committed approximately £91m across 16 live investments, mainly commercial and patent infringement matters as all but one of its antitrust cases have now reached some sort of conclusion.
One notable new investment is £2.1m in ProSports IP, a new joint venture with the National Football League Players Association in the US which has been established to develop and monetise a large portfolio of patents in the technology and sports market.
The company said it expects several investments to be completed over the next 12 to 18 months. To date Jurdicia has received net proceeds from all its cases of £109m.
Lord Brennan QC, Juridica’s chairman, said: “During the first half of the year the company has continued to manage its maturing portfolio of antitrust and commercial claim investments, whilst developing its patent activities through its partnership with ipCreate.
“Taken together with the recently announced returns on investments, we look to the future with optimism and expect the portfolio to continue maturing, delivering attractive dividend income and net asset value growth.”
Meanwhile, plans by City of London Group plc to sell its stake in third-party funder Therium are progressing, it emerged this week.
John Kent, the group’s acting chief executive, told its annual general meeting earlier this week that “it is now in advanced discussions around the sale of Therium”.