Calibration Financial

Founder and CEO Lindsay Wilson chairs the investment committee. Wilson's background as a structured-finance attorney — structuring deals for hedge funds, private credit funds, and mass-tort claimants — informs the firm's underwriting framework. No additional named investment professionals have been publicly disclosed, consistent with the firm's lean operating model.

Calibration sources directly from plaintiff law firms, claims aggregators, and secondary sellers of litigation-funding positions. Wilson's network, built during years of structuring funding arrangements for law firms and claimants, provides origination access. The firm does not rely on auctioned or intermediated third-party deal flow, which keeps origination costs low compared to larger litigation funders.

Calibration occupies a hybrid space: it structures credit-like facilities to law firms and claims holders, while also taking equity-like participations in case outcomes. The firm describes its approach as applying securitization and credit-underwriting discipline to legal assets, making it legible to institutional credit allocators who would normally avoid standalone litigation risk.

Calibration structures both drawdown funds and separately managed accounts for single-LP mandates. The firm does not commit capital to third-party litigation finance funds. Its exposure is built through direct origination and secondary purchases of existing litigation-funding portfolios, giving it control over underwriting and portfolio construction.

Calibration actively purchases secondary interests in litigation-funding portfolios, a differentiator among peers who focus almost exclusively on primary originations. This secondary activity provides a liquidity valve for other funders and creates a diversified entry point — Calibration can acquire seasoned pools of claims where some binary risk has already resolved, improving the actuarial profile of its own portfolios.

Calibration targets mass-tort dockets, commercial arbitration, patent enforcement, and antitrust class actions. US exposure concentrates on the Southern District of New York, Delaware, and Texas venues, with select international arbitration exposure in London and Singapore. The firm has not disclosed exposure to consumer class actions or single-plaintiff personal-injury claims, consistent with a focus on diversified, high-value commercial dockets rather than retail-claim aggregation.

Wilson's legal practice sat at the nexus of hedge funds, private credit, and complex litigation — a skill set that existing litigation funders (typically lawyer-led) and credit managers (typically finance-led) each saw as niche but neither fully integrated. Founding Calibration in 2020 allowed Wilson to build a pure-play vehicle purpose-built for the institutional-credit buyer, rather than grafting a securitization mindset onto a traditional litigation-funder chassis.