Provenio Litigation LLP and Therium Capital Management launch £50m litigation fund to finance high value commercial claims

London, 16 September 2020: Specialist litigation law firm, Provenio, has announced the launch of a £50 million fund in partnership with leading global litigation funder Therium, to finance high value business litigation and arbitration claims.

Provenio Litigation LLP was launched last year by a team of senior litigation lawyers from DLA Piper in order to advise exclusively on high-value, national and international commercial disputes.

With the anticipated global economic crisis following the Covid-19 pandemic, corporates and investors will have claims arising from failed investments, disputes in respect of long term, high value contracts which are no longer economically viable and claims against counter parties, financial institutions, insurers and others (including professional advisers). Lawyers widely anticipate an increase in such claims as the economic consequences of the pandemic emerge.

At a time when there will be huge pressure on clients to minimise the burden of carrying legal spend, this product enables Provenio’s clients to avoid the significant cost of litigation and arbitration proceedings while taking action to recover substantial sums and damages acting in the best interest of stakeholders.

Mark Goodwin, Managing Partner at Provenio commented: “The portfolio litigation funding agreement with Therium takes our business to a new level. We can offer clients a fully contingent fee arrangement backed by funding that takes the cash flow burden and financial risk out of the case but maintains a significant return for the client on a successful outcome. We believe this is a compelling offering to corporate clients and investors faced with the challenge of having to take legal proceedings to recover compensation and entitlements in high value and complex claims. We are excited to provide such a valuable service to our clients, particularly at a time of need in a challenging economic climate post Covid-19.”

“Operating as an independent specialist commercial litigation law firm, we are free to advise clients in respect of substantial claims against large national and international institutions including banks, central government and FTSE 100 corporates. Our structure and focus mean that we don’t have to turn away business because of conflicts which is increasingly a problem at larger full-service law firms.”

Neil Purslow, Co-Founder and Chief Investment Officer of Therium said: “We have enjoyed a successful relationship with the Provenio team for many years and, since its launch last year, Provenio has distinguished itself in the competitive litigation market. We are excited to develop that relationship by making this investment to finance suitable claims under the stewardship of this excellent team.”

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About Provenio Litigation

Provenio Litigation LLP was launched last year by a team of senior litigation lawyers from DLA Piper in order to advise exclusively on high-value, national and international commercial disputes.

Headed by managing partner, Mark Goodwin, Provenio is enjoying a sustained period of growth. Since April 2019, the firm has attracted litigation instructions with a combined claim value in excess of £750 million.

About Therium Capital Management

Therium is one of the world’s leading providers of litigation and arbitration funding and one of the largest, having raised over $1 billion since its foundation in 2009. With investment teams in the UK, USA, Australia, Spain, Germany and Norway, Therium has funded claims with a total value exceeding £39 billion including many of the largest and most high profile funded cases in the UK and internationally, including arbitrations under rules of the LCIA, ICC, UNCITRAL, LMAA, AAA, CIETAC, ICSID, Stockholm Chamber of Commerce and the Energy Charter Treaty.

Therium has been Top Ranked by Chambers and Partners and Leaders League with investment officers across the UK, Europe, USA and Asia Pac recognised as leading individuals in litigation finance.

To mark Therium’s tenth anniversary, the firm launched Therium Access, a not-for-profit funding initiative, in line with Therium’s commitment to the pursuit of justice and the rule of law. Grant commitments to date exceed £1 million. The first initiative of its kind, Therium Access’s sole purpose is to promote access to justice by funding projects and cases that provide legal support to the most vulnerable in society. Therium Access is the primary expression of Therium’s CSR policy and the firm has been shortlisted for several awards for launching this ground-breaking initiative, including the FT Innovative Lawyer Awards 2019 and the Lexis Nexis Awards 2020.

Therium is a founder member of the Association of Litigation Funders of England and Wales and of the International Legal Finance Association. Neil Purslow, Therium’s CIO and Co- Founder, is on the board of the ALF and he sits on the management committee of ILFA.

Press contact details:

For Therium – Désirée Maghoo, Questor Consulting.

07775 522740 / dmaghoo@questorconsulting.com