Ex-Validity Officials to Launch $100 Million Litigation Funder

Three former employees of a litigation funder that went bust last year have formed a new firm with access to at least $100 million in capital.

Arcadia Finance will focus on investing in US-based commercial and IP litigation, as well as international arbitration, according to its founders. The trio—Dave Kerstein, Ronit Cohen, and Joshua Libling—previously worked at Validity Capital, which went into harvest mode last June after its main backer decided to stop funding the business.

“We’re trying to bring clients customized solutions and really cover the waterfront of their litigation financing needs,” Kerstein said in an interview. “We ...