The only UK-listed third-party litigation funder is raising a further £35m, in part because it says other funders have fallen away with the downturn.

Juridica Investments, in Guernsey, raised £80m when it launched on the Alternative Investment Market in December 2007, but says it requires more capital.

The funder has 78% of its capital in 10 investments, giving exposure to 15 cases: four cases allege breach of competition law; five involve enforcement or determination of asserted patent rights; two claim property damage and insurance subrogation; two are claims against sovereign powers; one involves a shareholder dispute; and one is a statutory claim.

Juridica has also had two cases come to an end, resulting in a gross profit of $5.2m (£3.8m).

Juridica’s chairman, former Bar Council chairman Lord Brennan QC, said: ‘We are particularly pleased to have had such a positive response to the placing in this economic environment. This is a sound endorsement of the company’s innovative approach to legal funding, which has enabled it to establish a leading position in a market that is developing rapidly.’