Litigation funding is undeniably becoming a mainstream asset class with the market set to double in the next five years.

This is the prediction from Dilip N Massand of Legal Ventures, a UAE based fund by Phoenix Advisors that specialises in emerging markets. It is backed by Dalma Capital, a leading alternative investment manager.

Litigation funding takes place when a third party, with no direct interest in the proceedings, finances the cost of litigation in return for a share of the claim proceeds if the litigation is successful.

Mr Massand, who has over two decades of experience working on cross-border matters involving India, the Middle East, and the US, comments: “Depending on the jurisdiction, litigation funding is either about to become - or already is - a mainstream asset class.

“What is clear is the direction of travel: litigation finance is now undeniably emerging as a mainstream asset in its own right on a global level.”