Legalist, Inc. is an American
investment
Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broade ...
firm that specializes in alternative assets in the private credit industry. , the firm managed approximately $750 million across three separate strategies:
litigation finance, bankruptcy (
debtor-in-possession or DIP) financing, and
government receivables lending.
The firm’s clients include institutional investors such as endowments, foundations, hospitals, insurance companies, and family offices.
History
The company was founded in 2016 by Harvard University undergraduates, Eva Shang and Christian Haigh, and was part of that year's Summer Y Combinator Demo Day.
In November 2017,
Forbes Magazine
''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The c ...
included Legalist's founders in its "30 Under 30" Law & Policy list and reported that Legalist had raised $10.25 million over the summer.
In September 2019, The Wall Street Journal reported that Legalist had raised and closed its second fund of $100 million.
In April 2020,
AngelList
AngelList is an American software company for fundraising and connecting startups, angel investors, and limited partners. Founded in 2010, it started as an online introduction board for tech startups that needed seed funding. Since 2015, the ...
named Legalist among the 52 best startups to watch out for.
In March 2021, Reuters reported that Legalist had raised $50 million for its first bankruptcy fund.
By August 2022, Legalist managed approximately $750 million across three distinct private credit strategies: litigation finance, bankruptcy financing, and government receivables lending.
References
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2016 establishments in California
American companies established in 2016
Financial services companies established in 2016
Companies based in San Francisco
Financial services companies based in California
Privately held companies based in California
Privately held companies of the United States
Y Combinator companies