Value
Independent financial intelligence for litigation exposure.
Financial-market infrastructure
A financial market for litigation risk.
Litigation is funded, insured, and transacted—yet its financial risks remain difficult to price, hedge, and transfer.
Segundo is building the intelligence, valuation, and market infrastructure to change that.
The market architecture
Value. Hedge. Trade.
Hedge
Event-driven risk transfer, developed with market participants.
Trade
Price discovery and liquidity for litigation-related interests.
01 THE OPPORTUNITY
A significant financial market. Incomplete infrastructure.
Litigation creates financial exposure at scale. The tools for managing it have not kept pace.
Investors, businesses, insurers, and claimholders commit capital against uncertain outcomes, often for years, without the transparency, liquidity, or risk-management tools available in more developed financial markets.
Valuations are fragmented. Duration risk is difficult to isolate. Secondary transactions remain difficult to price and execute.
The problem is not simply uncertainty about how litigation will resolve. It is the absence of scalable infrastructure to manage that uncertainty.
Segundo is being built to address this gap.
02 THE PLATFORM
From litigation intelligence to financial markets.
From litigation intelligence to financial markets.
Segundo is developing an independent platform combining litigation analytics, probability-weighted valuation, event-driven financial instruments, and secondary-market price discovery.
Quantify the risk.
Combine litigation outcomes, damages analysis, procedural developments, and financial modeling to estimate the distribution of potential outcomes, recovery timing, and economic exposure.
Move beyond a single predicted settlement toward a structured understanding of uncertainty.
Price the financial interest.
Translate litigation risk into independent, probability-weighted valuations of claims, funding participations, contingent interests, and potential liabilities.
Model contractual cash flows, investment waterfalls, duration risk, and evolving market information.
Transfer the uncertainty.
Develop standardized financial instruments linked to objectively verifiable litigation events, including case milestones and resolution timing.
Prospective; developed with institutional counterparties and regulated market participants.
Create a more liquid market.
Build the infrastructure for independent price discovery and secondary transactions in litigation-related financial interests.
Connect valuation intelligence with observed prices, transaction data, and more standardized ways of transferring exposure.
One litigation. Multiple financial exposures.
The same lawsuit creates different economic risks for different market participants.
A funder faces uncertainty in returns and capital duration. A claimant owns a contingent recovery. A defendant faces potential liabilities. An insurer manages covered exposure. A secondary investor evaluates the price of acquiring an existing interest.
Segundo is designed to model these interests independently, using a shared analytical foundation.
Our objective is not merely to predict legal outcomes. It is to translate those outcomes into financial values that institutions can analyze, compare, and ultimately transact.
ILLUSTRATIVE OPERATING MODELNOT LIVE DATA
UNDERLYING LITIGATIONProcedural milestones · Damages · Resolution timing
01Claimholder recoveryContingent value
02Funding participationContractual cash flow
03Defendant liabilityPotential obligation
04Duration exposureTime-to-resolution
SHARED FINANCIAL REFERENCE POINTValuation · Risk transfer · Price discovery
An integrated financial ecosystem
Intelligence informs valuation. Valuation supports risk transfer. Trading generates price information.
As these capabilities develop, each has the potential to strengthen the others.
Historical litigation data and economic models establish the analytical foundation. Event-contract markets may introduce market-implied probabilities. Secondary transactions can produce observed valuation benchmarks.
Segundo aims to become the common financial reference point across this ecosystem.
04 FOR INSTITUTIONS
A common reference point across the market
Built for institutions exposed to litigation risk.
Litigation funders & asset managers
Independent investment valuation, portfolio analytics, duration-risk assessment, and prospective hedging capabilities.
Secondary investors
Comparative valuation, contractual cash-flow analysis, and price discovery for litigation-related financial interests.
Insurers & corporate risk holders
Quantification of potential legal liabilities, resolution timing, and opportunities to manage event-driven exposures.
Trading venues & liquidity providers
Institutional-grade litigation analytics, objectively defined event-contract structures, and prospective market-data infrastructure.
05 MARKET DEVELOPMENT
Building the next generation of litigation markets.
Build the reference point before building the market.
Segundo is in development, engaging prospective institutional customers and market participants to validate its valuation methodology, financial applications, and risk-transfer architecture.
NEAR-TERM FOCUS
Independent litigation valuation and economically useful, legally viable event contracts.
LONGER-TERM VISION
Broader trading and transaction capabilities for more transparent price discovery and liquidity.
INDEPENDENT BY DESIGN
Built around provenance, versioning, objective definitions, and clear boundaries between observed evidence and forward-looking inference.
Event-contract trading, exchange services, and secondary-market execution are not currently offered. Any future regulated activities would depend on applicable approvals and authorized partnerships.
06 CONTACT
Become a founding partner
Help build the next generation of litigation markets.
We are seeking founding partners across litigation finance, insurance, legal-risk investing, and financial markets.