Apex Litigation Finance – one of the funders targeted at small and medium-sized claims – invested in 32 cases in its first year, with anticipated claim values ranging from £30,000 to £27m.
The company said that its use of artificial intelligence (AI) legal predictive claim analysis has significantly reduced costs.
Outside of listed businesses, most litigation funders have been reticent about revealing how many cases they have backed – Augusta Ventures is another that does, having put £249m into 231 cases to date, with a 71% success rate, according to its website.
Apex said the claim types it has backed include financial mis-selling, professional negligence, intellectual property/copyright, shareholder disputes, breach of contract, contentious probate, group claims and insolvency related matters.
The first year has seen it commit over two-thirds of the available capital into funding cases, a figure that is confidential.
We reported last year that Apex was developing its own in-house predictive analytics system following its relationship with predictive analytics company CourtQuant, which closed down in the autumn.
Apex said that by integrating artificial intelligence (AI) predictive claim analysis into its business model, it has “significantly reduced” total claim analysis costs.
Maurice Power, Apex’s chief executive, said: “Building on our experience in litigation funding, legal review, AI and fund management, we have been successful in developing an investment team that we believe is unique within the industry.
“Our second investor fund is on course to launch this year and is projected to raise a minimum of 10 times the amount secured in the first fund.”