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Alchemy Investments Acquisition Corp. 1, a blank-check company steered by Loeb & Loeb LLP, announced plans to acquire and take public Cartiga LLC, a legal-focused asset management platform, in a blockbuster $540 million transaction.

The deal fuses Wall Street strategy with courtroom capital, marking a high-stakes bid to transform how litigation and legal funding collide with public markets.

Cartiga’s Rise: Built From Mergers and Data

Formed in 2021 by combining LawCash, Momentum Funding, and Ardec Funding, Cartiga has quickly positioned itself as a powerhouse. It provides plaintiff funding, attorney working capital, and risk management technology.

In its statement Monday, Cartiga described itself as a “data-driven, tech-forward” platform, boasting more than $1.6 billion in deployed legal sector investments. The company has also poured $20 million into IT and product development, creating a proprietary litigation-linked database.

CEO Sam Wathen said going public with Alchemy will allow Cartiga 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.”

Alchemy’s Playbook: Turning Private Credit Into Public Growth

Alchemy, a special purpose acquisition company (SPAC), went public in 2023 after raising $100 million in its IPO. SPACs operate as shell entities that raise funds to merge with a private company, allowing the target firm to go public without a traditional IPO.

At its IPO, Alchemy said it was hunting for a technology firm with a strong foothold in data analytics. This deal signals it has found the right match.

Alchemy co-CEO Mattia Tomba explained the move:

“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.”

Legal Heavyweights on Both Sides

Alchemy’s counsel is led by Loeb & Loeb LLP partners Jon Talcott, Mike Bradshaw, and Wells Hall. On Cartiga’s side, Nelson Mullins Riley & Scarborough LLP is serving as legal adviser, though full details of its team were not yet available Tuesday.

A New Era for Legal Tech and Finance

The Alchemy to acquire Cartiga deal highlights how legal-fintech hybrids are rapidly reshaping the financial landscape. By tying litigation funding to public markets, the move could ignite fresh debate over how technology, law, and capital intersect—potentially rewriting the playbook for how lawsuits themselves are financed.