– iCapital raised over $820 million in its latest financing round.
– The round was co-led by T. Rowe Price and SurgoCap Partners.
– The company’s valuation now exceeds $7.5 billion.
– iCapital services $945 billion in assets globally:
▪️$257B in alternative platform assets
▪️$203B in structured investments and annuities outstanding
▪️ $485B in client assets reported on
– Supports over 750 product providers and more than 3,000 wealth management firms.
– “This capital raise reflects our investors’ enthusiasm for the opportunity we have to transform the investing experience,” said Lawrence Calcano, Chairman and CEO of iCapital.
– Capital will be used to:
▪️Fuel strategic acquisitions
▪️Enhance technology and data infrastructure
▪️Expand AI-powered services, digital tools, and client-facing innovations
– “The proceeds from this capital raise will be strategically deployed to accelerate our acquisition efforts… and advance the tools and solutions we provide,” said Michael Kushner, CFO of iCapital.
– “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,” said David DiPietro, Head of Private Equity at T. Rowe Price.
– Since 2013, iCapital has:
▪️Invested $700+ million into its platform
▪️Completed 23 acquisitions, including Mirador, AltExchange, and Parallel Markets
▪️Doubled its global headcount to 1,875 employees across 16 offices
▪️Grown its platform to 2,100 funds and 114,000+ active financial professional users
– Goldman Sachs served as financial advisor and placement agent.
– Ropes & Gray LLP served as legal advisor.
