13 January 2021:
CASL has kicked the new calendar year off in style by commencing its inaugural capital raising for CASL Fund 1.
Stuart Price, Chief Executive Officer of CASL said “The response from stakeholders both domestically and globally following the launch of CASL in late 2020 has been overwhelming and hugely supportive. This positive response quickly translated into a pipeline of funding opportunities for CASL and confirms the scale of capital to be targeted.”
CASL is a successor to the hugely successful Investor Claim Partner (ICP) which was founded by John Walker in 2016.
John Walker, CASL Executive Chairman said “The launch of CASL with a broader investment mandate and more resources than ICP is a reflection of the rapidly emerging litigation funding opportunities. Whilst CASL completes its capital raising, ICP will continue to offer litigation funding solutions to the market by providing a warehouse facility on behalf of CASL repayable from CASL’s capital raising.”
In November 2020, CASL was granted an Australian Financial Services Licence (AFS) by ASIC that enables CASL to operate, as a Responsible Entity, a registered litigation funding scheme. CASL is one of only two litigation funders in Australia to date that hold the required AFS authorisations to fund and manage a class action under the Managed Investment Scheme regulations in the Corporations Act 2001.
“We were quietly confident about the likely demand for litigation funding and the competitive edge we could bring through CASL. To see this emerge so quickly should provide confidence to prospective investors, future employees and claimants seeking funding that CASL has been built on very strong foundations” said Mr Price.
Any enquiries regarding the capital raise or CASL Fund 1 should be directed to Stuart Price, CEO at firstname.lastname@example.org.
This capital raising being undertaken by CASL is not a public offer and the information above is not under any circumstances an offer to purchase securities.