iCapital Network, a NYC-based global financial technology platform driving access and efficiency in alternative investing for the asset and wealth management industries, closed on a $50m funding round.
The round was led by WestCap with participation from Apollo (NYSE: APO) and Temasek, which valued the company in excess of $6 billion.
The company will use the proceeds from this latest capital raise to:
- enhance its platform technology,
- expand the breadth of strategies and product types on its alternative investment menu, and
- pursue strategic acquisitions that broaden its client capabilities.
Founded in 2013 in NYC and led by Lawrence Calcano, Chairman and CEO, iCapital Network is a global financial technology company powering a marketplace for the wealth management, banking, and asset management industries to facilitate access to private markets investments for their high-net-worth clients. Wealth management firms use the firm’s solutions to provide clients with quality funds at lower minimums and simplified digital workflows. Asset managers and banks leverage iCapital’s technology to streamline and scale their alternative investments operational infrastructure. Additionally, the platform offers wealth advisors and their high-net-worth clients access to a curated menu of private equity, private credit, hedge funds, structured notes, and other alternative investments to help meet their investing needs for return and diversification.
As of November 2021, iCapital services more than $100 billion in client assets, of which over $22 billion are from international investors (non-US Domestic), across 860 funds. Employing more than 700 people globally, iCapital is headquartered in NYC and has offices in Zurich, London, Lisbon, Hong Kong, Singapore, and Toronto.
FinSMEs
28/12/2021