Legalist, Inc. is an investment firm that specializes in alternative assets in the private credit industry. Today the firm manages approximately $750 million across three separate strategies: litigation finance, bankruptcy (

debtor-in-possession A debtor in possession or DIP in United States bankruptcy law is a person or corporation who has filed a bankruptcy petition, but remains in possession of property upon which a creditor has a lien or similar security interest. A debtor becomes the ...

or DIP) financing, and government receivables lending. The firm’s clients include institutional investors such as endowments, foundations, hospitals, insurance companies, and family offices.

History

The company was founded in 2016 by Harvard University undergraduates, Eva Shang and Christian Haigh, and was part of that year's Summer Y Combinator Demo Day. In November 2017,

Forbes Magazine ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also rep ...

included Legalist's founders in its "30 Under 30" Law & Policy list and reported that Legalist had raised $10.25 million over the summer. In September 2019, The Wall Street Journal reported that Legalist had raised and closed its second fund of $100 million. In April 2020,

AngelList AngelList is a U.S. website for startups, angel investors, and job-seekers looking to work at startups. Founded in 2010, it started as an online introduction board for tech startups that needed seed funding. Since 2015, the site allows startup ...

named Legalist among the 52 best startups to watch out for. In March 2021, Reuters reported that Legalist had raised $50 million for its first bankruptcy fund. By August 2022, Legalist managed approximately $750 million across three distinct private credit strategies: litigation finance, bankruptcy financing, and government receivables lending.

References

{{reflist 2016 establishments in California American companies established in 2016 Financial services companies established in 2016 Companies based in San Francisco Financial services companies based in California Privately held companies based in California Privately held companies of the United States Y Combinator companies