Investing With Virage
Virage Capital Management LP has been managing money within the litigation finance space for institutional investors, endowments and foundations, fund of funds, and single/multifamily offices since receiving seed capital from a large US institutional investor in September 2013. Across the strategies for the past decade, Virage strives to provide uncorrelated, niche access to distinct litigation finance investment opportunities.
As of September 2023, Virage has two strategies that are open for capital.
Virage Capital Partners (“VCP”)
Virage’s flagship strategy, seeded by a large institutional investor in 2013, is an alternative fixed income solution that focuses primarily on direct lending in the mass torts space. The strategy has 10 portfolios with an expected launch of a new portfolio in 2024. The VCP strategy originates loans or other funding agreements that provide capital to manager-approved attorneys and law firms for the purpose of financing marketing, operating capital, and case expenses associated with lawsuits filed in state and federal courts.
- Alternative Fixed Income Solution
- Transactions to include loans, funding agreements, prepaid forward purchase agreements, and other arrangements that are not traditional loan-based transactions
- Uncorrelated, low volatility return profile
Virage Opportunity Fund LP (“VOF”)
VOF launched in 2023, seeking to maximize an opportunity afforded by recent changes in Arizona law that allow non-lawyers to have an equity stake in a law firm that is licensed as an Alternative Business Structure (“ABS”) under those laws. Virage, alongside two other operating members established Big Auto – Accident Attorneys, PLLC (“Big Auto”), an approved ABS law firm in Arizona that will seek to acquire primarily automobile, truck, motorcycle, and other motorized vehicle accident cases nationally. The strategy is unique as it should produce uncorrelated returns and be an income producing investment with an equity kicker in the event of a sale or monetization of the business. Our operating partners in Big Auto have decades of successful experience managing several large personal injury law firms in different parts of the country.
Big Auto uses VOF contributions to operate Big Auto, the vast majority of which will be used to advertise nationally to engage individual clients primarily for automobile accident cases. Big Auto attorneys will have co-counsel arrangements with accomplished co-counsel firms with expertise in automobile accident cases in specific DMAs around the country to jointly represent the clients and pursue the cases. Big Auto was approved by the Arizona Supreme Court in August 2022, and the firm has begun a conservative marketing effort as of July 2023. The business plan is based on a proven plan of attack with proven partners.
Virage Capital Management LP offers access to an uncorrelated asset class uniquely suitable for institutional investors.