Global law firm Ashurst is advising AlpacaDB, Inc on its intended acquisition of WealthKernel Limited, a wealthtech firm specialising in digital investment infrastructure and tax-advantaged products. This strategic acquisition will bring WealthKernel's UK and EU licensed brokerage infrastructure to Alpaca, supporting their rapid global expansion to achieve its mission of opening financial services to everyone on the planet. The transaction is subject to customary conditions.
Alpaca is a US-headquartered self-clearing broker-dealer and brokerage infrastructure for stocks, ETFs, options, crypto, fixed income, and 24/5 trading – raising over USD170 million in funding. Alpaca is backed by top-tier investors globally, including Portage Ventures, Spark Capital, Tribe Capital, Social Leverage, Horizons Ventures, Unbound, SBI Group, Derayah Financial, Elefund, and Y Combinator.
WealthKernel provides investment and savings infrastructure for regulated businesses in the UK and EU. With a focus on modern wealth products, compliance, and developer-first technology, WealthKernel enables firms to build and scale digital investment experiences.
The Ashurst team was led by tech M&A partner Chris Grey and finance regulatory partner Jake Green, with senior associates Nick Lever and Jamie Ng. The corporate team also included associates Elnaz Cadogan, Camilo Luna and Macarena Lozano. The financial regulatory team also included counsel Pilar Lluesma and associates Tiegan Cormie and Roni Fass. Tax advice was led by partners Mark Spinney and Patricia Allen, with support from associates Luis de Freitas, Laura Bull and Christopher Phillips. Financing advice was provided by partner Tim Rennie, counsel Aitor Errasti and associate Sandile Sibiya. Incentives advice was provided by counsel John Papadakis. Antitrust advice was provided by partner Steven Vaz and associate Emile Abdul-Wahab. Data advice was provided by partner Rhiannon Webster and senior associate Tom Brookes and associate Hana Byrne. IP advice was provided by counsel Aaron Cole and associates Andrew Clarke and Melvin Cheung. Employment advice was provided by partner Crowley Woodford, counsel Cristina Grande, senior associate David Pemberton, and associate Pablo Abelleira. Commercial contracts advice was provided by partner David Futter and senior associate Denae Erasmus. Pensions advice was provided by counsel John Gordon. Real estate advice was provided by partner Henry Moss and associates Elliot Tolaini, Paula Heredero and Pedro Montero.
Lowenstein Sandler LLP advised Alpaca on US matters.
