ICapital Raises $820M, Valued Over $7.5B Globally

iCapital, a fintech company specializing in alternative investments, has raised over $820 million in its latest funding round, increasing its valuation to more than $7.5 billion. The round was co-led by T. Rowe Price and SurgoCap Partners, with participation from State Street, UBS, BNY, and Temasek. Founded in 2013, iCapital provides a unified platform that enables financial advisors, wealth managers, and asset managers to access and manage alternative investments, structured products, annuities, and traditional investments. The company supports over 750 product providers, more than 3,000 wealth management firms, and 114,000 financial professionals, with $945 billion in assets serviced globally. The new capital will be used to accelerate iCapital's global acquisition strategy, expand geographically, and drive technology innovation, including enhanced data capabilities and AI-powered services. CEO Lawrence Calcano emphasized the company's commitment to delivering scalable solutions that empower advisors and fund managers to personalize their business and better serve clients.