#202 How Does Corporate Legal Finance Work? with Jordan Licht

https://open.spotify.com/episode/7gxFduDodLzWwcUMKr0rpV?si=nKOiLbeOT1m-TXDZ1wf7Xw

In this episode of the Grow CFO Show, host Kevin Appleby sits down with Jordan Licht, the CFO of Burford Capital, to discuss the fascinating world of legal fundraising and litigation finance.

Jordan Licht's career journey to becoming the CFO at Burford Capital is an interesting one. He transitioned from a 15-year background in investment banking and consulting to eventually taking on the CFO role, reconnecting with a former boss who had also joined Burford. This highlights the importance of maintaining professional networks and how serendipitous career paths can be.

The core focus of the discussion centers around Burford Capital and the unique world of litigation finance. Jordan provides an overview of how Burford invests in commercial litigation cases, sharing in the risk and reward. He explains Burford's thorough underwriting process, the challenges of estimating case durations, and the benefits their capital and expertise can provide to clients. The conversation also touches on Burford's global presence, their approach to building a non-law firm culture, and the complexities of funding and managing the company's own capital requirements.

Beyond just traditional finance responsibilities, Jordan emphasizes the value of having diverse experience across sales, strategy, and operations. This broader understanding of the business, rather than just the finance function, has been crucial in his current role as CFO. Jordan discusses how this experience has helped him appreciate the symbiotic relationship between business operations and finance, and the dependencies that exist between the two.

Key topics covered include:

Jordan Licht's career journey to becoming CFO at Burford Capital

Jordan's diverse experience beyond traditional finance roles

Overview of Burford Capital and litigation finance

Burford's investment process and client engagement 

Cash flow and fee structure in litigation finance

Jordan's role as CFO and building a non-law firm culture

Burford's global presence and client engagement

Funding and capital management at Burford

https://www.youtube.com/watch?v=-yaJ0oH0uWU

Links

Jordan Licht on LinkedIn

Kevin Appleby on LinkedIn

GrowCFO Mentoring

Timestamps

0:0:12 - Introduction by Kevin Appleby

0:0:48 - Jordan Licht's introduction and background

0:1:59 - Discussion on career networking and connections

0:2:34 - Jordan's previous roles before Burford Capital

0:4:03 - The evolving role of a CFO

0:5:01 - Explanation of Burford Capital's business model

0:7:07 - Litigation finance and its benefits

0:10:05 - Underwriting and investment process

0:11:58 - Win rates and case outcomes

0:14:14 - Example of a litigation finance process

0:16:49 - Financial and strategic benefits for companies

0:18:11 - Jordan's role as CFO at Burford Capital

0:19:39 - Company culture and working with lawyers

0:21:55 - Building the right company culture

0:23:05 - Client engagement and partnerships

0:24:50 - Global presence and operations

0:25:35 - Size and structure of the finance team

0:26:45 - Burford's investment portfolio and capital sourcing

0:28:37 - Closing remarks and appreciation

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