iCapital, the global fintech company shaping the future of investing, announced it has raised over $820 million with the completion of its latest financing round “co-led and funded by accounts advised by T. Rowe Price Associates, Inc. and T. Rowe Price Investment Management, Inc. and SurgoCap Partners, bringing the company’s valuation to over $7.5 billion.”
With $945 billion of assets serviced globally on its platform, “including $257 billion in alternative platform assets, $203 billion in structured investments and annuities outstanding, and $485 billion in client assets reported on, iCapital continues to transform the wealth and asset management landscape through technology, data infrastructure, and end-to-end enterprise solutions that power investing at scale.”
Lawrence Calcano, Chairman and CEO of iCapital 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 added:
“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 personalize their business and deliver exceptional service to their clients and stakeholders.”
The capital will be used to support strategic acquisitions that “improve the advisor and client experience, empower asset managers to expand their reach and attract a broader range of investors, and create opportunities to reduce friction in the ecosystem for all participants.”
As the only integrated platform for alternatives, structured investments, and annuities, iCapital delivers a complete “portfolio of management capabilities for education, transactions, data flows, analytics, and client support throughout the investment lifecycle.”
The integration of iCapital’s technology on “both a modular and comprehensive basis simplifies the portfolio investment experience for clients globally and engineers better connectivity and automation for all participants in the ecosystem.”
According to BlackRock’s 2025 Private Markets Outlook, the private markets are expected to “grow to an estimated $20 trillion by 2030 and beyond – underscoring the need for modern infrastructure to support this growth.”
iCapital’s technology enables wealth managers “to learn, manage and invest in private markets, structured investments and annuities alongside traditional holdings through a seamless interface that unifies onboarding, document workflows, performance data, and regulatory compliance.”
For asset managers, iCapital provides “end-to-end enterprise solutions, a digital marketplace, tailored distribution capabilities within the wealth management channel, data management, AI-powered services and tools, and sales distribution support and reporting.”
