LexCapital announces the addition of Lucca to its shareholders. Luciano Lucca will be the new Chairman of the BoD.

• Elisabetta Vasco, former manager of Intesa Sanpaolo and Ubi Banca will also be joining LexCapital’s BoD.
• The board also confirms the addition of Marcello Gallo, Emilio Campanile and Maurizio Santacroce. Giuseppe Farchione remains in post as Chief Operating Officer.
• With the addition of Lucca’s, LexCapital hopes to continue its growth in the field of Predictive Justice

Milan, 1 February 2024 – LexCapital, an innovative legal-tech start-up and benefit corporation operating as a litigation funder, announces the addition to the company of Lucca’s S.r.l., a holding company owned by the family of entrepreneur Luciano Lucca, founder and chairman of the Assiteca Group, a leading player in the insurance brokerage sector.

The new BoD of LexCapital with Luciano Lucca and Elisabetta Vasco

Lucca also took on the role of Chairman of LexCapital’s Board of Directors, which was enlarged from three to five members, with the addition of Elisabetta Vasco (independent), previously a senior manager of Banca Intesa Sanpaolo and of Ubi Banca. Marcello Gallo, Emilio Campanile and Maurizio Santacroce remain in post as Directors. Giuseppe Farchione remains in post as Chief Operating Officer.

Luciano Lucca started his career in the insurance sector in 1966 at Toro Assicurazioni before founding Verconsult, an insurance brokerage company, in 1972, and becoming its Managing Director. Following Verconsult’s move to the GPA group in 1975, Lucca took on prominent roles in GPA and in its subsidiary SAMA. His career underwent a further transformation in 1982 with the founding of HOWDEN ASSITECA, of which he became Managing Director and, subsequently, Chairman. In 2005, he was appointed Vice-President of the National Association of Insurance Brokers (ACB) and in 2010 he took over the presidency of EOS RISK España, one of the leading insurance brokerage companies in Spain.

Predictive Justice and Litigation Funding: the future of the start-up

According to LexCapital’s COO Giuseppe Farchione, “the new additions confirm the growth trajectory of LexCapital’s original project. The heart of the project remains our technology platform, LexCapital Litigation Assessment – LLA, in the field of Predictive Justice. An innovative tool, based on a statistical-mathematical model, which allows the investment opportunity to be assessed in advance, taking into account various parameters such as the defendant’s solvency, the probability of a favourable outcome and an estimate of the possible proceeds. It is an area that has enormous potential for development thanks to artificial intelligence. In the near future, we will also make our platform available to third parties such as law firms, auditing firms, management consultancies, banks and insurance companies. We know how costly and complex litigation can be in Italy: our Predictive Justice technology, designed to support and guide decisions, helps to minimise the risk of losing a case and the relative consequences”.

Luciano Lucca, Chairman of LexCapital’s Board of Directors, says he became “interested in the LexCapital project owing to its innovation and cutting edge technology. I am convinced that the concept of predictive justice in support of litigation funding will be of central importance in the future.”

LexCapital’s experience

In its first eighteen months of operations, LexCapital has already assisted its client companies in litigation in the antitrust sector and has a substantial number of cases in the pipeline in other areas, such as reservations in public works, medical and professional damages and financial derivatives contracts.

All of which is done through litigation funding, an operation whereby a third party buys the chose in action and makes its financial resources and network of lawyers and specialist consultants available to those who wish to defend their rights in court, sharing in any proceeds and assuming all the financial risks.

The company has also initiated a pilot case comprising approximately fifty disputes in the Reverse Litigation Funding or Defence Side Litigation Funding segment on behalf of a leading insurance company.  A service that could be replicated and distributed throughout the same market to support other companies. The official announcement of a new partnership between independent national litigation funders, with LexCapital as promoter and co-founder, who will cooperate on cross-border projects and with regard to co-investment in larger litigation matters, is expected soon.

The legal teams

The Deloitte Legal team, composed of the lawyers Alessandra Gesino and Sandro Lamparelli, assisted Lucca’s S.r.l. in carrying out the due diligence and in negotiating the terms of the agreement to acquire an interest in and serve on the Board of LexCapital. The company’s in-house team, assisted by the lawyer Paolo Grandi from Studio RP Legalitax, directly handled the activities related to the agreement.