iCapital has acquired AltExchange, according to a company statement. Terms of the acquisition were not disclosed.
AltExchange was created to cater to the private securities market as the sector boomed post 2008. AltExchange caters to wealth managers, family offices etc., aiming to provide a robust platform that caters to entities interested in pursuing opportunities beyond public securities.
Lawrence Calcano, Chairman and CEO of Capital, says that AltExchange has build one of the most advanced document retrieval solutions which is integrated into routing tech and AI based document extraction.
“This acquisition complements the investments we are making in our internal R&D to further enhance our data management capabilities. Combined with our existing solutions, it allows us to deliver on our goal of creating reliable end-to-end data management services for all our clients. These capabilities will help our clients collect, extract, and organize their data more efficiently and cost-effectively, therefore making more informed decisions and achieving their financial objectives. We are excited to welcome AltExchange to iCapital.”
AltExchange’s technology seeks to convert unstructured data from scattered documents and data feeds into structured insights to support real-time data reporting and streamlined tax reporting.
AltExchange’s AdvisorVue platform is for financial advisors, aggregating clients’ portfolios, standardizing data and documents, and automating reporting processes.
AltExchange’s also offers a Digital Custodian Platform (DCP).
