David Kay is the Executive Chairman and Chief Investment Officer of Liti Capital, a Swiss investment company that combines blockchain-based solutions, advanced data analytics and investigative capabilities to conduct litigation funding. David is the new guest in this Dinis Guarda citiesabc openbusinesscouncil YouTube Podcast Series.
1. An introduction from you - background, overview, education, career highlights?
2. Can you tell us about Litigation Finance?
3. How do you see the bridges between centralised legal finance and decentralised blockchain law finance and the bridges between and the challenges arisen?
4. What is Liti Capital - the company, the tokens, organisations and focus?
5. Why is Liti Capital creating a platform to defend, educate and create the legal litigation finance basis for the crypto community - B2B2C and fight Crypto Fraud worldwide?
6. Liti Capital offers private equity for everyone. Can you elaborate on that?
7. You created BinanceClaim as a way to support traders affected by the issues of exchanges like Binance. Can you explain how it works?
8. You created cryptowatchdog as a large platform for the crypto, DeFi world can you explain the vision and how will work?
9. You have an offer for both B2C - B2B can you explain the strategy how traders and institutions can work with Liti Capital?
Before joining Liti Capital in 2021, David provided board representation, corporate governance, capital raising, and strategic planning advisory services to several public and private multi-billion dollar organizations. He has proven expertise in complex conflict management and financing processes across various sectors, including but not limited to: multi-jurisdictional litigation and/or arbitration, international law issues, governmental contracts or disputes, judgement enforcement, and forensic asset-tracing.
For the better part of the last decade, David was also a Founding Partner and the Portfolio Manager of a US$1 billion+ private equity fund focused on investing in complex commercial litigations and arbitrations around the globe. While at the fund, David conceived and developed an investment strategy that focused on investing in (i) international commercial litigations and arbitrations and (ii) other complex special situations.
This strategy was realized by successfully raising two funds, providing the opportunity to create outsized, non-market correlated returns via strategic investments where there was both (i) a strong risk-adjusted return and (ii) an ability to directly/positively impact the outcome. David led the deployment of capital at the funds, and he was responsible for building out the entire team and executing the strategy across approximately 40 investments in more than 17 countries.
Prior to that fund experience, David served in the Restructuring and Recapitalization Group at the Jeferies Financial Group. In that role, he was responsible for analyzing and facilitating corporate restructurings, with an emphasis on advising corporate clients and their creditors in large, multifaceted transactions. Representative engagements included: Nortel Networks, The Trump Organization, Verasun Energy Corporation, Delphi Corporation and Hard Rock Park.
He also practiced law as an attorney at Akin Gump Strauss Hauer & Feld LLP in the Financial Restructuring Group, where he focused on advising creditors committees and bondholder committees in complex corporate restructurings, both out of court and in Chapter 11.
Representative cases included: Delta Airlines, Loral Space & Communications, Calpine Corporation, Anchor Glass Container Corporation and Vertis Communications.David earned his Bachelor of Arts in International Relations from the University of Pennsylvania. He earned his Juris Doctor, cum laude, from Fordham University School of Law, where he made the Dean’s List and wrote for the Urban Law Journal.
In the interview, he said the following about democratising finance:
“Most people that are watching this when they hear that litigation financing is best performing asset class, think: I would have heard of that? You know why they haven’t heard about it? Because 99.9% of the world isn’t allowed to invest in it, today, ok? And my parents, going back to the beginning, were not allowed to invest in my fund. They couldn’t. It was one of the biggest disputes I had when I was there. They did not have a million dollars of liquidity, and they could not participate. So, when we were sitting down to form Liti Cap, Jonas was saying you gotta do this, you gotta jump in this with me, there were a couple things we talked about. The first thing and the most important thing from a bridge, from my perspective, is everybody should have the right to invest in private equity, ok? The democratisation of private equity is critical.”
About Liti Capital
Liti Capital SA is a Swiss investment company that combines blockchain-based solutions, advanced data analytics and investigative capabilities to conduct litigation funding.
Liti Capital was formed in June 2020. The idea was born from Jonas Rey, who also heads Athena Intelligence, one of Switzerland's most successful intelligence-gathering firms and one of the world's most sought-after agencies in identifying recoverable assets. His two co-founders, Andy Christen and Jaime Delgado took a crucial role in shaping and implementing the vision of the project, as they bring a proven knowledge of blockchain engineering, a track record in the innovation fintech startup industry as well as operational and technical skills to round out the internal leadership team. NYC-based David Kay, one of the most successful and in-demand litigation finance strategists in the history of the 25-year-old litigation finance industry, recently joined the team as Chief Investment Officer. When David was Funding Partner and Portfolio Manager of a billion US dollar private equity fund working in the litigation finance space, he was routinely tasked with monetizing awards valued in the hundreds of millions of US dollars. This included successfully enforcing what was at the time the largest international arbitration award in history - bringing in more than one billion US dollars of cash and securities.
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