Validity Finance Adds Experienced Dispute Funder Ronit Cohen to Investment Team, Secures Additional $50 Million in Capital Commitments
Ms. Cohen, former trial lawyer at Simpson Thacher, has been at forefront of U.S. lit finance industry, overseeing funding in wide span of commercial cases
NEW YORK — Litigation funder Validity Finance continues to build its U.S. investment team while expanding its capital base.
The firm announced the arrival of Ronit Cohen, who joins Validity as portfolio counsel. A former trial lawyer who practiced at Simpson Thacher & Bartlett and O’Melveny, Ms. Cohen transitioned to litigation finance in 2012 and spent the past seven years as investment professional at Bentham IMF. As dispute funding has gained acceptance in the U.S., Ms. Cohen has overseen investments in a wide span of commercial litigation matters, reviewing many hundreds of cases in the process. She’s helped clients secure funding in disputes involving breach of contract, fraud, insurance coverage disputes, patent infringement and large arbitrations. She’s also helped vet and manage investments in portfolios of cases for law firms.
In coming to Validity, Ms. Cohen reunites with firm founder and CEO Ralph Sutton, who formerly was chief investment officer at Bentham and originally recruited Ms. Cohen. She is the third former Bentham manager to join Validity this year, following the arrivals of David Kerstein and Julia Gewolb. Mr. Kerstein now serves as Validity’s Chief Risk Officer; Ms. Gewolb is Director of Underwriting. Added to the firm’s other senior staff, Validity has built a team with the most tenured investment professionals focused on disputes in the U.S.
“We could not be happier having Ronit join us and round out the team,” Mr. Sutton said. “She was one of our first hires out of Big Law at Bentham and her industry experience is almost unrivaled. Ronit conducted due diligence on hundreds of prospective cases and assisted in bringing dozens to strong conclusions. Her experience will be a great benefit to our current and growing roster of funding clients.”
Validity launched in June 2018 with $250 million in committed capital and the backing of leading private equity investor TowerBrook Capital. The firm recently raised another $50 million in commitments from additional investors and has committed more than $50 million in its first year of operations to clients across a range of litigation matters and jurisdictions.
The firm recently partnered with American Lawyer Media to survey 330 lawyers at law firms and businesses about their experience with litigation finance. Just under 100% of those surveyed who have used third-party funding said they planned to do so again. And 98% of respondents said that trusted relationships are the most important factor in choosing a funder.
“It’s a great pleasure to be working again with Ralph, Dave Kerstein and Julia Gewolb, and to connect with the superb professionals that Validity has assembled in the past year,” Ms. Cohen said. “The firm has created a unique market position with its focus on client-centric service. Fortunately, there is zero learning curve for me in getting started and I’m excited to be part of a team dedicated to innovative dispute funding on a national scale.”
About Validity: Validity is a commercial litigation finance company that provides businesses, law firms and individuals with non-recourse financing for a wide variety of commercial disputes. Founded in 2018 with $250 million in financing, Validity believes that capital and legal expertise combine to help solve legal problems on behalf of clients. Validity’s’ mission is to make a meaningful difference for clients by focusing on fairness, ethics, innovation, and clarity. For more, visit www.validity-finance.com.
Litigation Finance Insights | January 23, 2020 An Ethics Checklist for Litigation Finance You want to enter into a litigation finance agreement, but you hear there’s a maze of ethical and legal rules in your way. This checklist will help you identify the principal issues so you can be better prepared. READ MORE
Litigation Finance Insights | January 8, 2020 Bloomberg Law: Steps in the Litigation Finance Process You call a litigation finance company and ask for funding. What happens next? Laina Miller Hammond covers how the litigation finance process typically works, from before you even call a funder to after your case resolves. READ MORE