Augusta Ventures says that it has been an exciting year in litigation funding with developments relating to common fund orders, debates between the courts regarding the forum for shareholder class actions and the release of the Australian Law Reform Commission’s Final Report on Class Action Proceedings and Third-Party Litigation Funders. 

Augusta has continued to play an active role in the Association of Litigation Funders (ALFA) with its Managing Director, Neill Brennan, sitting on ALFA’s Board of Directors.

Augusta is happy to have reached its target of committing $30m to new cases over the last 12 months to May. Its committed capital to cases since commencement in May 2017 is now $45m.

The company attributes it success in the Australian market as a result of:

  • forming strong working relationships with litigation lawyers and insolvency practitioners;
  • product differentiators which include:
    • deployment of funding in tranches into lawyers’ trust accounts (facilitates prompt invoice payment);
    • a hands-off approach once the case has been approved and pleadings settled;
    • funding of commercial claims with damages of $1m and upwards; and
    • a competitively priced and tailored funding solution (which it says was evident from the submission in the multiplicity hearing in the AMP Limited shareholder class action).

Augusta continues to expand its highly experienced team of in-house lawyers to adequately resource growth and to provide our best-practice service and quick turnarounds. 

The Australian team has increased from 8 to 20 over the last 12 months with nearly half having 10-28 years’ legal experience.  A Melbourne office has also been opened.

During the next 12 months Augusta aims to:

  • double its investments to $100 million in Australia by committing an additional $50 million to new cases;
  • continue to grow its team of in-house lawyers;
  • continue to develop existing relationships and form new ones in the legal, insolvency and corporate markets; and
  • open an office in Singapore to assist claimants in South East Asia.