We are delighted to report that we have completed an additional £2.5m expansion fundraising – with immediately available cash invested directly onto our balance sheet. All too often other litigation funders are reliant upon “promised” drawdowns from external parties (that may or may not ultimately materialise). Some draw funding from opaque offshore structures. Others will boast of large new fundraisings but omit highlighting the large cash-burn and ongoing financial commitments that they need to satisfy from historic commitments. In such cases IPs and their lawyers can never be sure how much funding really is available to support their cases.
Manolete’s funds always go directly onto our balance sheet – our accounts are filed at UK Companies House and, as a PLC, we have maximum UK GAAP disclosure requirements, ensuring full financial transparency.
The new funding will be used to fuel the continued rapid expansion of the business – which currently has 103 insolvency litigation case investments (33 ongoing) – making Manolete Partners Plc the largest litigation funding company in the Northern Hemisphere, by volume.
With the new financing now complete, all future litigation investments will now be made on a stand-alone basis.