AxiaFunder closes its first limited partnership case
AxiaFunder has closed its first limited partnership case and expects the next to be available on the platform in a few weeks’ time.
The litigation finance crowdfunding platform said its first case structured as a limited partnership was a shareholder dispute claim launched last month which has now closed after reaching its maximum funding target of £150,000.
Read more: See you in court: Litigation finance special report
In a lender update, AxiaFunder said the first limited partnership case was an unfair prejudice shareholder dispute which has the potential to earn a multiple on capital invested of up to 3.7 times, if the case has a favourable judgment at trial. The claimants’ solicitor and QC are working on a full contingency basis.
Read more: The letter of the law: Exclusive interview with AxiaFunder’s Cormac Leech
It expects that the next partnership offer will be available on the platform in a few weeks.
AxiaFunder unveiled its plans to move to a limited partnership investment model last August, saying that it is more tax efficient and has the potential to boost investor returns.
The company has said it plans on reaching profitability in 2022 after widening its losses in 2020 while “investing aggressively” in the business.