iCapital Network, a fintech startup which has developed a platform for investing in alternative assets, has raised USD 146 million in a funding round led by Hong Kong-based Ping An Global Voyager Fund.
New investors Goldman Sachs, Affiliated Managers Group, Hamilton Lane and WestCap have also took part in the round in addition to existing backers BlackRock, UBS Financial Services, Blackstone Group and BNY Mellon. iCapital plans to use the new capital to enhance its platform technology and expand functionality.
iCapital Network is a New York-based company, which has developed a distribution, administration, and workflow platform for high net-worth access to alternative assets. The startup had previously only raised a total of USD 36.9 million in known funding since its 2013 inception, bringing its total raised to USD 183 million, according to Crunchbase data.
iCapital was founded with the goal of making high-quality alternative investments accessible to wealth advisors and their high-net-worth investors and enabling fund managers to reach new sources of capital, Crunchbase added. The startup’s flagship platform offers advisors and their high net worth clients access to a curated menu of private equity, hedge funds, and private credit investing opportunities.
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