The firm’s clients include institutional investors such as endowments, foundations, hospitals, insurance companies, and family offices.[2]
History
The company was founded in 2016 by Harvard University undergraduates, Eva Shang and Christian Haigh, and was part of that year's Summer Y Combinator Demo Day.[3]
In November 2017, Forbes Magazine included Legalist's founders in its "30 Under 30" Law & Policy list and reported that Legalist had raised $10.25 million over the summer.[4]
In September 2019, The Wall Street Journal reported that Legalist had raised and closed its second fund of $100 million.[5]
In April 2020, AngelList named Legalist among the 52 best startups to watch out for.[6]
In March 2021, Reuters reported that Legalist had raised $50 million for its first bankruptcy fund.[7]
In August 2022, Legalist managed approximately $750 million across three distinct private credit strategies: litigation finance, bankruptcy financing, and government receivables lending.[2]
As of July 2025, Legalist manages approximately across $1.5 billion across its three strategies. This growth was driven by the company securing a new group of clients in the form of U.S. government contractors who recently lost support from the Department of Government Efficiency (DoGE).[1]
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