Funding & Business
Alt Investment Platform iCapital Raises $820M At $7.5B Valuation With An Eye Toward Acquisitions
iCapital, a fintech platform for alternative investments and investors, has raised more than $820 million in a funding round that takes its valuation to over $7.5 billion, the company announced on Thursday.
That’s up from the just over $6 billion it was valued at in 2021 after raising $50 million in a round led by WestCap. Founded in 2013, New York-based iCapital has raised over $1.5 billion in total funding to date, per Crunchbase data.
SurgoCap Partners and accounts advised by T. Rowe Price Associates and T. Rowe Price Investment Management co-led iCapital’s latest financing. Existing backers Temasek, UBS and BNY also participated in the round.
iCapital says it plans to use its new capital toward strategic acquisitions, geographic expansion and further investment in its technology. The fintech has already bought more than 23 companies, including AltExchange and Parallel Markets. Presently, it has 1,875 employees across 16 global offices.
The company services $945 billion worth of assets globally on its platform, saying its interface “unifies” onboarding, document workflows, performance data and regulatory compliance. It aims to help wealth managers invest in private markets, structured investments and annuities alongside traditional holdings. For asset managers, the company offers a digital marketplace, data management, AI-powered services and tools, and sales distribution support and reporting.
The funding announcement comes two days after The Bank of New York Mellon Corp. tapped iCapital “to beef up its alternative investment capabilities.”
Crunchbase data shows that investment for U.S. companies in financial services industry categories has held up at robust levels in recent quarters. In particular, wealthtech has been attracting investors as of late. In early July, Savvy Wealth raised a $72 million Series B, and in April Altruist landed a $152 million Series F at a $1.9 billion valuation.
Related Crunchbase query:
Related reading:
Illustration: Dom Guzman
Stay up to date with recent funding rounds, acquisitions, and more with the
Crunchbase Daily.
Funding & Business
China Will Need to Stimulate Further in Second Half of 2025, Natixis Says
Natixis chief Asia Pacific economist Alicia Garcia Herrero says she expects Beijing to announce more monetary and fiscal stimulus in the second half of the year. She tells Bloomberg Television that China’s economy fared better than expected in the first six months of 2025, but further policy moves will be needed to hit targets. (Source: Bloomberg)
Source link
Funding & Business
Jane Street Ban Weighs on NSE Market Valuation and Expiry Turnover
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:
Source link
Funding & Business
Goldman Strategists Raise Asia Stock Targets, Upgrade Hong Kong
Goldman Sachs Group Inc. strategists raised their forecast for Asian stocks, citing a more favorable macro environment and greater certainty around tariffs.
Source link
-
Funding & Business1 week ago
Kayak and Expedia race to build AI travel agents that turn social posts into itineraries
-
Jobs & Careers1 week ago
Mumbai-based Perplexity Alternative Has 60k+ Users Without Funding
-
Mergers & Acquisitions1 week ago
Donald Trump suggests US government review subsidies to Elon Musk’s companies
-
Funding & Business1 week ago
Rethinking Venture Capital’s Talent Pipeline
-
Jobs & Careers1 week ago
Why Agentic AI Isn’t Pure Hype (And What Skeptics Aren’t Seeing Yet)
-
Education3 days ago
9 AI Ethics Scenarios (and What School Librarians Would Do)
-
Education4 days ago
Teachers see online learning as critical for workforce readiness in 2025
-
Education1 week ago
AERDF highlights the latest PreK-12 discoveries and inventions
-
Education4 days ago
Nursery teachers to get £4,500 to work in disadvantaged areas
-
Education6 days ago
How ChatGPT is breaking higher education, explained