David Weisburd interviews the co-founder of Legalist, discussing the company's origins as a legal analytics startup that pivoted to litigation finance after advice from Y Combinator. The conversation covers Legalist's decision to operate as an asset management company raising successive funds, the challenges of raising an initial $10 million fund, and the subsequent growth to managing $1.5 billion in assets. They delve into the concept of capacity-constrained asset classes, the structure of litigation finance, and the development of Legalist's government receivables strategy, highlighting the importance of a repeatable process for generating smart alpha for LPs. The discussion concludes with advice for young entrepreneurs, emphasizing the significance of hiring and retaining great talent.
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