(Los Angeles) – Today, Los Angeles high-stakes litigation law firm Pierce Sergenian LLP and experienced litigation funder Pravati Capital announced an innovative litigation funding deal for the law firm’s entire portfolio of contingency fee cases. Under the arrangement, Pierce Sergenian LLP will receive substantial infusions of capital on an as-needed, ongoing basis to fund the prosecution of a growing number of bet-the-company commercial matters. In return, Pravati Capital will receive a substantial, steady return on investment as the cases settle or are successfully tried to verdict.
Pravati Capital was drawn to Pierce Sergenian LLP’s aggressive, team-oriented approach to high-stakes litigation. “From an investor’s standpoint, it was clear this was too good an opportunity to pass up. John and David have built an elite litigation firm with a tremendous combination of pure litigation talent and team-oriented lethality,” said CEO Alex Chucri. “We expect the return on investment will be very strong and that this will be a huge win for everyone involved – Pravati Capital, Pierce Sergenian LLP, and the law firm’s clients.”
Pierce Sergenian LLP Managing Partner John Pierce was equally excited about the deal: “This is a huge step forward for our firm. Pravati’s backing ensures that we will be able to take even the largest commercial litigations to trial against any firm in the world and win.” Pierce continued, “Pravati is at the absolute forefront of the emerging market for litigation funding. When it comes to creative funding solutions for law firms and claimants alike in the high-stakes commercial litigation space, there is no better choice than going to Alex Chucri and the team he has assembled at Pravati Capital.”
Pierce Sergenian LLP launched on January 3, 2017, and is off to a fast-paced start. The firm has taken over a major trade secret litigation from litigation stalwart Keker Van Nest & Peters, has launched a federal court lawsuit on behalf of the market’s top 3-D scanner company, and has taken over perhaps the highest-profile litigation in the nation this year on behalf of former Facebook employee Anthony Pompliano against Snap, Inc. Multiple nine-figure contingency fee cases are in the pipeline for the new firm. “We have added talent from firms like our alma mater Quinn Emanuel and Kirkland & Ellis. This infusion of capital from Pravati will ensure that we can take advantage of additional targeted lateral opportunities going forward,” noted Pierce. “We have great folks banging on the door, and this investment will make sure we can swell our ranks with the cream of the crop.”
Pravati CEO Chucri added: “There is nothing we would love more than to see this firm grow into the next global litigation force. We know they have the recipe for incredible success, and we will be with Pierce Sergenian LLP every step of the way to make sure they have the resources to accomplish their objectives.”
