Funding Alert

Litigation funding startup FIGHTRIGHT announces Rs 100 cr fund for HNIs

• ByStartupStory     |    March 14, 2023

A legaltech startup called FIGHTRIGHT Technologies has initiated a fund worth Rs 100 crore that utilises AI and ML-supported analytics to finance commercial litigations.

According to an official statement, the special purpose vehicle fund will allocate funds to 15-20 commercial cases, with an average ticket size of Rs 5-7 crore for a period of two to three years. The fund will provide an opportunity for investors, primarily high net worth individuals (HNIs), to invest in these litigation cases, with an expected annualised return on investment (RoI) of over 30%.

Nitin Jain, the CEO and founder of FIGHTRIGHT, stated that “their company’s use of AI and ML-supported technology provides them with a clear advantage in the field of litigation funding, and they have observed a considerable rise in the need for such funding. He further added that he is confident that their distinctive approach will offer their clients the necessary resources to pursue and triumphantly resolve their claims”.

Established in 2020 by Nitin Jain and Vishal Mangal, FIGHTRIGHT is a legal tech startup headquartered in Kolkata that utilises their unique AI and ML technology to provide detailed litigation analytics. This technology empowers the company to assess and analyse litigation risks and opportunities with precision. By utilising this technology, the startup can make well-informed decisions on which commercial claims to finance, which ultimately enhances the chances of success for both the company and its clients. 

The company has already set up an office in Bengaluru, in addition to its headquarters in Kolkata, and plans to expand its physical presence to Delhi-NCR and Mumbai over the next few months.

FIGHTRIGHT’s litigation funding strategy offers its clients funding to cover various litigation costs, such as legal fees, court expenses, and other related expenses. The company bears the risk linked with the litigation and solely retrieves its investment if the claim is triumphant.

According to Vishal Mangal, the COO and co-founder of FIGHTRIGHT, “their objective is to enable clients who lack the financial means to pursue their claims with access to justice and level the playing field. They are committed to providing more claimants with the necessary resources to achieve success”.

Nitin Jain mentioned that the SPV, which commenced this month, has already obtained a 100% commitment.

FIGHTRIGHT focuses on mid-market firms, including MSMEs (micro, small, and medium-sized enterprises), as well as individuals who require funding for litigation up to Rs 1 crore for commercial disputes. In the current fiscal year, the company has already financed claims worth Rs 250 crore.

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