iCapital Network Hits $6 Billion Valuation with $50 Million Investment

Fazzaco learned that iCapital Network, a leading global financial technology company powering the world's alternative investment marketplace, has announced the successful closing of a USD 50 million funding round, boosting its valuation to over $6 billion.

The latest funding round was led by WestCap, with participation from Apollo and Temasek. Other existing investors are expected to make follow-on commitments to iCapital early next year.

The round further expands the consortium of industry leaders aligned with iCapital's industry-standard technology solution for facilitating private wealth channel access to alternative investments, which also includes: Affiliated Managers Group, BlackRock, BNY Mellon, Citi Ventures, Credit Suisse, Goldman Sachs Asset Management, Golub Capital, Hamilton Lane, JPMorgan Chase, Morgan Stanley, MSD Partners, Noah Holdings, Owl Rock, Ping An Voyager Partners, Pivot Investment Partners, UBS, and Wells Fargo.

"We're honored for WestCap and Temasek to expand their commitments and to now include Apollo as a shareholder," said Lawrence Calcano, Chairman and CEO of iCapital Network. "With the addition of Apollo, we now have the largest and most distinguished general partners in the world supporting iCapital in its mission of delivering the definitive technology solution for alternative investments within the wealth management space."

As Fazzaco reported earlier, iCapital Network has announced the acquisition of Axio Financial LLC (Axio)​, a leading end-to-end service provider to the U.S. structured notes market.