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Westlaw News

Litigation funder Legalist bets on bankruptcies, expanding small-to-midmarket strategy

Legalist Inc has raised $50 million for its first bankruptcy fund, expanding the litigation funder’s portfolio to include the bankruptcy sector with the same smaller-scale focus it has brought to commercial litigation finance.

The San Francisco-based company will provide debtor-in-possession financing to small and lower-middle-market businesses in bankruptcy, with a typical loan in the range of $1 million to $10 million, the company said.

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