Already well known in the English speaking world, Hakamana, a litigation and arbitration financing mechanism resembling third party funding, has landed in Chile. This is the first fund exclusively focused on Latin America.
The fund seeks to give access to justice to SMEs face arbitration, but do not have the mean to participate.
Aldo Díaz, a lawyer and the legal director of the fund, explains that Hakamana has multidisciplinary corporate governance, in charge of evaluating cases that need financing. "Thus we can see the risks of the activity, both from a legal and financial point of view and, with it, evaluate whether or not we finance a litigation or arbitration. This type of litigation and arbitration financing funds was born in the Anglo-Saxon world more than a decade ago. In simple terms, it is venture capital applied to the law, in which a group of investors finances the costs associated with a third-party litigation in exchange for a certain return."
The board of directors is composed by Andrés Veszpremy, a partner at Palma Edwards Veszpremy law firm, Francisco Orrego, director of companies and former president of TVN, and by Mario Gómez, director of the BCI Bank, and executive director Carolina Plaza, who is an industrial civil engineer