Investment Manager

Stefan Michaelsen

Stefan joined Therium’s German office in January 2023. He built a private practice around securities prospectuses for SMEs until the exception in Regulation (EU) 2017/1129 for issuance under €8m diminished the outlook for this segment. Stefan’s recent litigation practice focused on EU crossborder cases in online gambling and sports betting. Stefan pioneered casino litigation with CLLB in 2019 which has developed into a leading German mass tort theme, working with local litigation finance providers. He is still active in a €1,7m online sports betting case in Cologne district court.

After working as a strategy consultant at McKinsey and Bain and an entrepreneurial role in a fintech startup Stefan worked at Hengeler Mueller in a research role during his clerkship (Referendariat) and as a lawyer at SJ Berwin in their Hedge Fund practice.

Stefan has studied international economics and econometrics at the University of St. Gallen and law at the University of Konstanz. He received an M.B.A. from the University of Chicago and attained a Ph.D. in finance on completion of his postgraduate studies in mathematical finance. Stefan is admitted to the German Bar Association.


“In a strong field, judges were impressed by the significant scale and range of this global business. Therium set itself apart by a series of powerful and persuasive testimonials, demonstrating a commitment to their clients and the wider industry.”

- Insolvency Funder of the Year – The Turnaround, Restructuring and Insolvency (TRI) Awards

"It helps that Therium’s principals are all lawyers who are still primarily interested in achieving successful litigation, just with an emphasis on the funding and costs of litigation."

Litigation Funding: Status and Issues, Centre for Socio-Legal Studies, Oxford University and University of Lincoln Law School.


- Hodges, Peysner and Nurse

"Therium’s approach to litigation finance is thought provoking and innovative. We appreciate their creativity in helping us and our clients to find new ways of realising the value from litigation."

- James Pollock, Partner, Simmons & Simmons LLP

The Team