Augusta, which funded the Shine class action against AMP, has completed £150 million of funding as the business enters its next stage of expansion, with a focus on the Australian market.
Managing director of the funding firm, Robert Hanna, said the financing represented a major milestone for Augusta, which has an attractive pipeline of new cases and a growing pool of quality law firms.
Augusta founder, Neill Brennan, said the firm prided itself on delivering a transparent product for its law firm partners, providing funding for legal fees, early stage case funding, insolvency cases, arbitration costs and security costs for bonds.
“This funding round really allows us to open our shoulders and make more of the disciplines we have worked hard to put in place since we formed the business and which will remain our mainstay going forward,” he said.
Chairman, Peter Cornelly, added while the agenda ahead was large, the funder was well-equipped with “very strong capital base” to tackle future endeavours.