Cartiga, LLC, a technology-driven asset management platform specializing in litigation finance, is set to go public through a business combination with Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY), a publicly traded special purpose acquisition company (SPAC). The agreement has been unanimously approved by the boards of both companies and is subject to customary closing conditions.
The merger positions Cartiga to leverage its more than 20-year investment history, proprietary database of over 250,000 litigation-linked asset fundings across 8,000+ law firms and lawyers, and $20 million in IT and product development investments since 2020. The public listing will enable the company to access additional capital to accelerate growth, expand its product suite, and pursue strategic acquisitions.
Mr. Mattia Tomba, Co-CEO of Alchemy, said, “At Alchemy, we specialize in unlocking under-explored private-credit opportunities and delivering capital solutions that help companies scale and, when appropriate, access the public markets. We believe Cartiga is exceptionally well situated to capitalize on growing opportunities to invest in the legal services sector, a $300bn+ market representing ~1.4% GDP[i] which has historically been underpenetrated by traditional sources of capital. We look forward to supporting Cartiga as it pursues its next phase as a public company.”
Cartiga’s CEO, Mr. Sam Wathen, remarked, “Accessing the public markets in partnership with Alchemy will position us to leverage our data platform and market distribution to accelerate growth, expand our product suite, and deepen our capital and service-based partnerships with law firms.”
Cartiga has deployed more than $1.6 billion in legal sector investments over the past two decades and has participated in cases generating over $20 billion in estimated settlement value for affiliated law firms and clients. The platform uses proprietary data and advanced analytics to provide risk-adjusted returns by funding legal claims and offering services to law firms and their clients.
Advisors
- B. Riley Securities served as exclusive financial advisor to Cartiga, with Nelson Mullins Riley & Scarborough LLP providing legal counsel.
- Keefe, Bruyette & Woods, a Stifel Company, acted as exclusive financial advisor to Alchemy, with Loeb & Loeb LLP as legal counsel.
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