iCapital Network Received Investment from BlackRock

iCapital_Network_LogoiCapital Network, a NYC-based financial technology platform that provides high-net-worth investors and their advisers access to private equity and hedge funds, is to receive an investment from private equity firm BlackRock (NYSE: BLK).

The financial terms of the deal were not disclosed. In conjunction with the investment, Frank Porcelli, chairman of BlackRock’s US wealth advisory business, joined iCapital’s board of directors.

Led by Lawrence Calcano, Chief Executive Officer, iCapital Network provides an online platform that facilitates access to private investment opportunities through an independent origination and due diligence process and provides a technology solution automating the subscription, administration and reporting processes of alternative investments.
iCapital recently announced that it has surpassed $2 billion in subscriptions from approximately 3,000 investors across more than 40 private offerings since the public launch of its platform two years ago. Its member network includes more than 1,300 users from RIA firms, private banks, independent broker-dealers, family offices and other advisory organizations that collectively oversee more than $1.7 trillion in investable client assets.



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