New York, NY; 03/23/2020
Amount Funded: $146 Million
Type: Not Listed
Lead Investor: Ping An Global Voyager Fund
Participating Investor(s): Affiliated Managers Group, Goldman Sachs, Hamilton Lane, WestCap (New Investors); BlackRock, UBS Financial Services, Inc., Blackstone, BNY Mellon.
Company Description: iCapital Network’s mission is to power the world’s alternative investment marketplace. Its financial technology platform has transformed the way alternative investments are bought and sold through the development of tech-based solutions for advisors, their high-net-worth client base, asset managers and banks. The firm’s flagship platform offers advisors and their clients access to a curated menu of private equity and hedge funds at lower minimums with a full suite of due diligence and administrative support in a secure digital environment. Asset managers and banks leverage iCapital Network’s tech-enabled services to streamline and scale their private investments operational infrastructure. iCapital was recognized in the 2018 and 2019 Forbes FinTech 50 which highlights the top 50 innovative financial technology companies that are transforming finance through technology. As of December 31, 2019, iCapital Network services more than $46.6 billion in invested capital across more than 100,000 underlying accounts.
What funding will be used for: build team, scale and improve its services and technical innovations.
“We are honored to have the support of a distinguished group of strategic investors, and a world-class team completely focused on supporting the success of our clients. The asset and wealth management industries have embraced the need for an independent, automated, transparent approach to alternatives. The future we believe in and the future we are building is one where all parties win.”
-Lawrence Calcano, CEO, iCapital Network
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