During the first quarter of 2025, RPX flagged multiple new NPE campaigns initiated by plaintiffs tied, by public records, to third-party litigation funders, including a plaintiff backed by a prominent litigation finance firm, and another financed by a hedge fund with a dedicated litigation finance desk. (USPTO records suggest that the same hedge fund may also have received a portfolio of patents during the quarter.) In addition, Q1 saw an established patent plaintiff disclose its funding source, identifying a litigation finance firm associated with several past NPE campaigns.