Litigation funder Therium has hired four new investment managers as it prepares to raise its largest-ever fund, the firm’s Chief Investment Officer has said.
The hires come as Therium looks towards a fundraising that chief investment officer Neil Purslow anticipates will be larger than its £325m raise in November 2019.
“This is all about preparing ourselves for going out to market for fundraising,” Purslow told Financial News of the fund’s recent hires.
Therium was founded in 2009. It has raised more than $1.1.bn in total funds and backed claims valued at $100bn. In October 2020, Provenio Litigation LLP launched a £50 million fund in partnership with Therium, to finance high value business litigation.
Google faces London trial
Google faces a London trial over an estimated £920-milion-pound damages claim after a court authorised an action that alleges the company overcharged 19.5 million customers for app store purchases.
The class action, which has been certified by the Competition Appeal Tribunal, alleges Google abused its dominant position by charging up to 30% commission on popular apps on its Play Store, including Tinder, Candy Crush Saga and Roblox since October 2015.