The number of in-house counsel and private lawyers who reported that their companies or law firms were using litigation funding has increased by more than 100% in the past three years, according to a new study from litigation financier Burford Capital. 

Now, a majority of lawyers predict that legal finance will become “increasingly critical” as legal departments and firms look for ways to offset the financial toll of the COVID-19 pandemic and economic downturn, Burford found in a survey of 266 in-house counsel and 233 law firm lawyers.