Small law firms have mostly been the ones driving the boom in commercial litigation finance, according to a new report on the industry from broker Westfleet Advisors.

In collecting data on several dozen commercial litigation funders active in the U.S. market, Westfleet found that 70% of the capital committed by litigation funders over a 12-month period spanning 2018 and 2019 went to firms outside of the Am Law 200.