It has been some time since we profiled somebody working at a litigation funder on these pages, by my depend for the reason that summer time of 2020, after I interviewed Legalist’s Eva Shang, proper on the heels of Longford’s John Garda. So much has modified within the business since then, with each Legalist and Longford seeing super progress when it comes to publicity and belongings below administration in that point. On the similar time, the intervening years have additionally seen some difficult developments within the litigation funding area, together with some high-profile fund closures and durations the place attracting new capital has been very troublesome. Nonetheless, the business’s trajectory stays on a good upward curve and in an indication of continued well being, new funds piloted by skilled business palms have been launched. This week, we’ll hear from one of many co-founders of a newly-launched fund, which has already attracted severe curiosity each for its funding functionality, in addition to a gala business occasion it will likely be placing on on the finish of February.
Let’s meet our interviewee, who was gracious sufficient to conform to this interview at the same time as she is tough at work getting her new enterprise off to a flying begin. Lauren Harrison is the co-founder and managing companion of Sign Peak Companions, the place she brings greater than 25 years of front-line business litigation expertise to authorized finance. A former trial companion at Vinson & Elkins and Jones Walker, Harrison spent her profession litigating complicated antitrust, IP and different business disputes earlier than serving as a vice chairman at Legislation Finance Group and later launching Sign Peak. She attended Dartmouth Faculty and Cornell Legislation College, clerked on each the Ninth Circuit and the Western District of Washington, and has been professionally acknowledged by Lawdragon, Chambers, Texas Tremendous Attorneys, and Greatest Attorneys in America.
Lauren’s new enterprise Signal Peak Partners, co-launched with business veteran and fellow litigator, Mani Walia, is a litigation finance agency specializing in early-stage funding of complicated issues — the place the companions wish to say the extra sophisticated, the higher. Sign Peak is at the moment elevating its inaugural fund with a primary shut on March 1 and meant cap of $125 million. As of in the present day, it has reviewed over 100 leads and has a number of issues below time period sheet or funded. On February 26, Sign Peak will host an invitation-only symposium on the Put up Oak Lodge in Houston, convening members of Congress, state and federal judges, and senior in-house counsel for candid conversations about the way forward for authorized finance. The occasion will function a tribute to legendary trial lawyer H. Lee Godfrey. Confirmed attendance at the moment exceeds capability, underscoring the depth of curiosity within the dialogue Sign Peak helps to form. On a private word, I very a lot respect the invite I acquired to the occasion, and really a lot look ahead to attending.
Now to the interview. As typical, I’ve added some transient commentary to Lauren’s reply beneath however have in any other case offered her reply to my first query as she supplied it.
Gaston Kroub: As a former working towards litigator turned funder, what are the teachings you discovered at Biglaw that you simply apply to your present follow most commonly?
Lauren Harrison: The very first thing that involves thoughts is teambuilding. While you work in a sprawling follow part at a multi-office regulation agency, you be taught that nice outcomes are the merchandise of nice groups, and teambuilding is each a mindset and a ability set. Advanced litigation is just not a solo train. It requires assembling the correct mix of expertise, judgment, creativity, and execution, and it requires utilizing the correct mix of top-down route and lively listening. As a companion and mentor at two giant corporations, I discovered the significance of together with various viewpoints and expertise ranges in all features of the method however with out shedding the construction that ensures effectivity. And most significantly, by no means hoard credit score. What you set out to your group comes again to you; I imagine this throughout contexts and disciplines. These ideas information us at Sign Peak. We companion with attorneys we respect. We belief their judgment, and we construction our investments to help, not intrude with, their capability to strive instances effectively.
One other important lesson from Biglaw is to respect consumer sources. Consumer work is relationship-based, and I used to be aware of how my selections affected a consumer’s authorized spend. As a funder, that interprets to accountable stewardship of investor capital. We’re disciplined about underwriting, considerate about capital deployment, and centered on effectivity at each stage of a matter. It additionally informs our views on investing and the ways in which incentives form conduct. Hourly billing has an necessary place within the authorized market. Experience and counseling should be valued. However hourly billing creates clearly counterintuitive incentives, the place extra time spent equates to higher “worth.” At Sign Peak, alignment is central. We search partnerships with attorneys who’re keen to wager on themselves and whose pursuits are aligned with our personal. Our funding constructions are designed to reward effectivity, to worth outcomes over course of, and to make sure that everybody pulls in the identical route towards a profitable consequence.
On a extra macro degree, being a Biglaw alum and particularly a Vinson & Elkins alum in Texas is to be half of a big however very particular group. Nationwide and worldwide regulation corporations make investments closely in model recognition and constructing a tradition that adheres throughout far-flung workplaces. Whereas Sign Peak is small by comparability, that target tradition and identification is a part of our ethos. Our identify conveys the position we count on to play in Texas and past. We’re constructing a tradition of reliability and disciplined execution, the place belief is earned by way of consistency and outcomes.
GK: The significance of teamwork in driving profitable litigation outcomes can’t be overstated — and that’s very true in complicated IP litigation. And when a funder is launched into the combination of consumer and their trial group, the significance of making an attempt to take care of alignment throughout every stage of the matter is of important significance, as Lauren rightly acknowledges. That focus, in addition to the super litigation expertise that Lauren brings to bear on behalf of Sign Peak’s buyers and funded shoppers, makes it no shock to me that the agency is off to such a powerful begin when it comes to its capital elevating and deployment efforts. Likewise, the power of the relationships that Lauren and her colleagues have constructed over their very own litigation careers have absolutely helped form the star-studded lineup that’s set to assemble at Sign Peak’s upcoming symposium.
We are going to proceed with Lauren’s solutions to questions 2 and three subsequent time, which is able to middle on her ideas in regards to the important want for battle-tested trial attorneys, in addition to the position litigation funding can play in advancing the aims of company authorized departments. Within the meantime, be happy to achieve out to Lauren and her Sign Peak colleagues when you have meritorious instances that would profit from litigation funding.
Please be happy to ship feedback or inquiries to me at [email protected] or through Twitter: @gkroub. Any subject solutions or ideas are most welcome.
Gaston Kroub lives in Brooklyn and is a founding companion of Kroub, Silbersher & Kolmykov PLLC, an mental property litigation boutique, and Markman Advisors LLC, a number one consultancy on patent points for the funding group. Gaston’s follow focuses on mental property litigation and associated counseling, with a powerful concentrate on patent issues. You possibly can attain him at [email protected] or observe him on Twitter: @gkroub.
