Armadillo Litigation Funding

Armadillo provides customized law firm lending, advancing capital to contingency-fee firms so they can cover marketing, staffing, and operating costs while pursuing mass-tort and civil litigation. The firm earns returns from the interest and fees on these advances, which are repaid from case settlements or judgments. It does not disclose its cost of capital or target net returns.

Armadillo does not publicly reference any fund vehicle, limited partners, or external capital raises on its website. That silence implies the firm may rely on proprietary or closely held capital — a contrast with the fund-of-funds and closed-end litigation vehicles that dominate the sector. Until it discloses a capital source, the balance-sheet posture remains an open structural question.

The firm targets plaintiff-side law practices handling mass-tort, personal-injury, and civil litigation. Its own materials emphasize mass-tort practices that need to scale marketing and intake operations quickly. Armadillo describes a selective, partnership-oriented vetting process rather than broad-based lending to any contingency-fee firm.

Armadillo is headquartered in a single Houston, Texas office and states that it serves clients nationwide in the United States and the United Kingdom. The firm’s website does not list additional physical locations or licensed lending entities in non-US jurisdictions.

Basil Adham is the Chief Investment Officer listed on the firm’s website, and Nick Johnson serves as both Chairman and CEO. With a nine-person team that includes an of-counsel bench of litigators, the underwriting and investment committee appears to sit tightly inside this Houston-based leadership group.