New way to ride the tech boom
Naples Global LLC, a hedge fund based in the United States, has partnered with LegalPay, an Indian third-party lawsuit funding startup, to create a fund to assist local entrepreneurs involved in disputes with their investors, including private equity firms. They’ve agreed to form a special purpose vehicle (SPV) to assist cash-strapped founders in resolving issues with their investors through litigation, arbitration, and other means. “Since most founders are first-generation entrepreneurs, they lack the financial muscle to assert their legal rights,” said LegalPay CEO Kundan Shahi. “The idea behind this product is…