iCapital Network, a global financial technology platform focused on alternative investing for the asset and wealth management industries, raised US$440m in funding.
The round was led by Temasek, joined by new investors Owl Rock, a division of Blue Owl Capital; MSD Partners, L.P.; Noah Holdings and Golub Capital and existing investors WestCap, Ping An Voyager Partners, Blackstone, UBS, Pivot Investment Partners, BNY Mellon, Wells Fargo, Morgan Stanley and Goldman Sachs Asset Management.
The company, which is valued at approximately $4.0 billion, intends to use the funds to enhance its platform technology, expand the breadth of strategies and product types on its alternative investment menu, and pursue strategic acquisitions that will broaden its client capabilities.
Led by Lawrence Calcano, Chairman and Chief Executive Officer, iCapital Network is a global financial technology company powering an alternative investment marketplace. Wealth management firms use iCapital’s solutions to provide clients with funds at lower minimums and simplified digital workflows. Asset managers and banks leverage the technology to streamline and scale their private investments operational infrastructure. Additionally, the iCapital ‘flagship’ platform offers financial advisors and their high-net-worth clients access to a curated menu of private equity, private credit, hedge funds, and other alternative investments to help meet their investing needs for return and diversification. The company’s research and diligence team offers analysis alongside its extensive suite of advisor education, compliance, portfolio management, and portfolio analytics tools and services.
As of June 30, 2021, iCapital services more than $80 billion in global client assets across more than 780 funds. Employing more than 450 people globally, the company is headquartered in NYC and has offices in Zurich, London, Lisbon, and Hong Kong.