With the completion of its most recent financing round, the international fintech company ICapital announced that it has raised over $820 million, increasing its valuation to over $7.5 billion.
In a statement, the company said that new investors T. Rowe Price and SurgoCap Partners were leading the investment round, with State Street also participating and Temasek, UBS, and BNY increasing their commitments.
The funds will be utilized to support strategic acquisitions that enhance the experience of advisors and clients, enable asset managers to reach a wider audience and draw in more investors, and generate chances to lessen ecosystemic friction for all stakeholders.
“The proceeds from this capital raise will be strategically deployed to accelerate our acquisition efforts, with a focus on enhancing our technology platform and expanding our data capabilities,
“These investments will enable us to deliver even greater value to our clients by deepening innovation across our product offerings, strengthening our presence in key markets, and advancing the tools and solutions we provide to wealth and asset managers globally,” said Michael Kushner, Chief Financial Officer at iCapital.
Throughout the investment lifecycle, iCapital, the integrated platform for annuities, structured investments, and alternatives, offers a portfolio of management capabilities for transactions, education, data flows, analytics, and client support.
The modular and comprehensive integration of iCapital’s technology streamlines the portfolio investment process for clients worldwide and improves connectivity and automation for all ecosystem participants.
The firm said it continues to transform the wealth and asset management landscape through technology, data infrastructure, and end-to-end enterprise solutions that power investing at scale, with $945 billion in assets serviced globally on its platform, including $257 billion in alternative platform assets, $203 billion in structured investments and annuities outstanding, and $485 billion in client assets reported on.
“This capital raise reflects our investors’ enthusiasm for the opportunity we have to transform the investing experience,
“More importantly, it enables us to accelerate the work that matters most – delivering differentiated value to our clients,” said Lawrence Calcano, Chairman and Chief Executive Officer of iCapital.
“They are the cornerstone of everything we do, and this funding ensures we stay ahead of their needs, today and into the future,
“As demand for alternatives, structured investments and annuities accelerates, we remain committed to delivering scalable solutions that empower advisors, fund managers and other infrastructure providers within the ecosystem with the technology, data, and insights they need to personalize their business and deliver exceptional service to their clients and stakeholders,” he added.
The private markets are predicted to reach an estimated $20 trillion by 2030 and beyond, according to BlackRock’s 2025 Private Markets Outlook, highlighting the necessity of contemporary infrastructure to support this expansion.
“ICapital has built a platform that has not only become foundational to private markets investing, but it is also setting the standard for operational excellence in the industry,
“Their ability to combine advanced technology with a deep understanding of advisor and asset manager needs makes them a uniquely valuable partner to their clients,” said David DiPietro, head of Private Equity at T. Rowe Price.
To provide its tools and solutions to wealth managers, asset managers, and banks worldwide, iCapital has invested over $700 million in its platform since its founding in 2013 and keeps making investments in technology and educational resources across borders.
In recent years, the company has doubled its workforce to 1,875 across 16 international offices and completed 23 strategic acquisitions, including recent deals with Mirador, AltExchange, and Parallel Markets.
According to ICapital, the company has consistently generated operating profits and has seen strong growth in transaction volume, client adoption, and platform usage year over year.
It currently serves more than 3,000 wealth management companies and more than 750 product providers globally.
