The only UK-listed third-party litigation funder is raising a further £35m which it said it needs as the market ‘heats up’.

Juridica Investments, based in Guernsey, raised £80m when it launched on the Alternative Investment Market in December 2007, but said it now requires more capital, in part because it says other funders have fallen away with the downturn.

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 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.’