iCapital has raised over USD 820 million in its latest funding round, bringing the company’s value to USD 7.5 billion.
Co-led and funded by accounts advised by T. Rowe Price Associates, Inc., T. Rowe Price Investment Management, Inc., and SurgoCap Partners, the round highlights the investors’ vision to transform the investing experience, enabling the company to deliver better value to its clients and enabling them to accelerate their operations.
Solutions for wealth and asset management
With USD 945 billion of assets serviced through its platform globally, iCapital aims to contribute to the wealth and asset management landscape through new technology, data infrastructure, and enterprise solutions that drive efficient investing. iCapital’s mission is to cater to the increasing demand for alternatives, structured investments and annuities, being committed to offering solutions that support advisors, fund managers, and other infrastructure providers. The platform’s users can leverage the technology and data they need to personalise their business and offer optimised services to their stakeholders and clients.
The new capital will be utilised to support acquisitions that upgrade the advisor and client experience, supporting asset managers to expand their reach and investor network, reducing friction in the ecosystem for all participants. iCapital offers a complete portfolio of management features for education, transactions, analytics, data flows, and customer support throughout the investment lifecycle. Its tech on both a modular and comprehensive basis simplifies portfolio investing, providing better connectivity and automation.
Additionally, iCapital supports wealth managers to learn, manage, and invest in private markets, structured investments and annuities alongside traditional holdings through an interface comprised of onboarding, document workflows, performance data, and regulatory compliance. For asset managers, the company offers end-to-end solutions, a digital marketplace, tailored distribution capabilities, data management, AI tools, and sales distribution support and reporting.
The proceeds from this capital raise will be used to accelerate the company’s purchase efforts, focusing on improving its tech platform and expanding its data capabilities. These investments will help it offer better value to its clients, develop its products, and strengthen its presence in key markets.
