iCapital, a global fintech company, completed a capital raise exceeding $820 million. T. Rowe Price and SurgoCap Partners co-led this significant iCapital capital raise. This investment pushes iCapital's valuation past $7.5 billion.
The new capital will accelerate iCapital's global acquisition strategy. It also supports geographic expansion and technology innovation. iCapital aims to enhance advisor and client experiences.
Fueling Global Expansion and Innovation
iCapital's platform services $945 billion in assets globally. This includes $257 billion in alternative platform assets. The company provides integrated solutions for alternative investments, structured investments, and annuities.
The market for private markets is growing rapidly. Wealth managers are increasing allocations to these assets. Competitors like CAIS and Moonfare also operate in this expanding sector.
Since 2013, iCapital has invested over $700 million into its platform. The company completed 23 strategic acquisitions, including Mirador and AltExchange. Furthermore, it doubled its employee base to 1,875 across 16 global offices.
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This substantial iCapital capital raise reinforces its market leadership.
The proceeds will specifically enhance the technology platform and expand data capabilities. This further strengthens iCapital's presence in key markets. This latest FinTech funding highlights continued investor interest in alternative investments. The company's focus on wealth management technology drives its growth.
State Street, Temasek, UBS, and BNY also participated. Existing investors increased their commitments. Goldman Sachs & Co. LLC acted as financial advisor. Ropes & Gray LLP provided legal counsel.
