US-based fintech firm iCapital has raised over $820m in its latest funding round, co-led by T. Rowe Price Associates, T. Rowe Price Investment Management, and SurgoCap Partners.
The fresh capital injection has elevated iCapital’s valuation to more than $7.5bn. The company currently services $945bn in assets worldwide, with $257bn in alternative platform assets, $203bn in structured investments and annuities, and $485bn in reported client assets.
iCapital chairman and CEO Lawrence Calcano said: “This capital raise reflects our investors’ enthusiasm for the opportunity we have to transform the investing experience. More importantly, it enables us to accelerate the work that matters most – delivering differentiated value to our clients.
“They are the cornerstone of everything we do, and this funding ensures we stay ahead of their needs, today and into the future.
“As demand for alternatives, structured investments and annuities accelerates, we remain committed to delivering scalable solutions that empower advisors, fund managers and other infrastructure providers within the ecosystem with the technology, data, and insights they need to personalise their business and deliver exceptional service to their clients and stakeholders.”
The funds will be allocated towards strategic acquisitions aimed at enhancing the advisor and client experience and enabling asset managers to broaden their investor base.
iCapital also aims to streamline the investment ecosystem to reduce operational friction for all stakeholders.
As the sole integrated platform for alternatives, structured investments, and annuities, iCapital provides comprehensive management capabilities, including education, transactions, data flows, analytics, and client support throughout the investment lifecycle.
iCapital’s technology integration, both modular and comprehensive, aims to simplify the global portfolio investment experience. It enhances connectivity and automation, benefiting all participants within the investment ecosystem.
