Morrison & Foerster advised Artivest, one of the most innovative technology companies for accessing and investing in alternatives, in its definitive agreement with leading financial technology platform iCapital Network under which iCapital will acquire the Artivest platform and operating businesses. Announced on May 13, 2020, the transaction also includes iCapital’s management of Artivest’s 28 proprietary alternative investment funds, along with several large enterprise relationships and Artivest’s ‘Open Network’ platform.
iCapital’s mission is to power the world’s alternative investment marketplace. Its financial technology platform has transformed the way alternative investments are bought and sold through the development of tech-based solutions for advisors, their high-net-worth client base, asset managers, and banks. Following the close of this transaction, iCapital will service more than $55 billion in client assets across approximately 650 funds, 115,000 underlying accounts, and more than 70 white label partners. The acquisition will create further operational economies of scale in the offering and servicing of alternative investments and additional benefits for both Artivest and iCapital clients and partners.
The MoFo deal team was led by ECVC partner Tim Harris and included financial services partner Susan Gault-Brown, co-chair of the firm’s Blockchain + Smart Contracts Group, and corporate associates Jae Yoo, Jennifer Ta, Angela Kim, Ophir Gam and Omed Sharifi.
Read the companies’ press release.