Total amount raised
$729.2 Millions
Latest funding date
06/01/2022
Location
iCapital Network has successfully raised funds through multiple rounds, with the latest being a Corporate Round closed on June 23, 2022. The platform connects wealth managers and asset managers, providing access to a wide range of alternative investment opportunities.
With 29 investors backing the company, including notable names like Bank of America and Apollo Global Management LLC, iCapital Network continues to expand its platform and services. Keep reading to explore the intricacies of iCapital Network's fundraising journey and the investors backing this innovative platform.
What Is iCapital Network?
iCapital Network, founded in 2013, is a fintech platform based in New York, New York. The company specializes in alternative investments, providing technology and service solutions to wealth management firms, asset managers, RIAs, and banks.
Founded by Dan Vene, John Robertshaw, Nick Veronis, and Phil Pool, iCapital Network employs between 1001 and 5000 people. The platform offers access to private equity, private credit, hedge funds, structured investments, and other alternatives, servicing over $130 billion in global client assets.
How Much Funding Has iCapital Network Raised?
- Corporate Round
- Amount Raised: Not specified
- Date: June 2022
- Lead Investors: Bank of America
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform technology and expand product offerings.
- Venture Round
- Amount Raised: $50M
- Date: December 2021
- Lead Investors: Temasek Holdings, WestCap
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the range of strategies and product types on its alternative investment menu.
- Series C
- Amount Raised: $440M
- Date: July 2021
- Lead Investors: Temasek Holdings
- Valuation at Round: $4.0 billion
- Motivation Behind the Round: To enhance platform technology and pursue strategic acquisitions.
- Series B
- Amount Raised: $16M
- Date: June 2020
- Lead Investors: Not specified
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support platform enhancements and operational investments.
- Venture Round
- Amount Raised: $146M
- Date: March 2020
- Lead Investors: Ping An Global Voyager
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand platform capabilities and market reach.
- Venture Round
- Amount Raised: Not specified
- Date: November 2018
- Lead Investors: Blackstone Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform technology and expand product offerings.
- Corporate Round
- Amount Raised: $25.7M
- Date: August 2018
- Lead Investors: JP Morgan Chase, The Carlyle Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support platform enhancements and operational investments.
- Series B
- Amount Raised: $12.6M
- Date: December 2017
- Lead Investors: Morgan Stanley Investment Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform technology and expand product offerings.
- Series B
- Amount Raised: $14.8M
- Date: December 2016
- Lead Investors: BlackRock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support platform enhancements and operational investments.
- Series B
- Amount Raised: $11M
- Date: May 2015
- Lead Investors: Pivot Investment Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform technology and expand product offerings.
Total Amount Raised: $756.1M
Current Valuation: $4.0 billion
Key Investors
- Bank of America
- Details: Bank of America is a multinational investment bank and financial services company headquartered in Charlotte, North Carolina. It is one of the largest financial institutions in the world, serving individual consumers, small and middle-market businesses, and large corporations.
- Investment Focus Areas: Banking, investment management, wealth management
- Notable Investments: Technology, healthcare, financial services
- Apollo
- Details: Apollo is a global alternative investment manager with offices in New York, Los Angeles, and other major cities. The firm specializes in private equity, credit, and real assets.
- Investment Focus Areas: Private equity, credit, real assets
- Notable Investments: Real estate, manufacturing, technology
- Temasek Holdings
- Details: Temasek Holdings is a global investment company headquartered in Singapore. It is owned by the Government of Singapore and focuses on a broad range of sectors.
- Investment Focus Areas: Financial services, telecommunications, media, technology
- Notable Investments: Alibaba, Airbnb, Gojek
- WestCap
- Details: WestCap is a growth equity firm that partners with visionary leaders. The firm invests in technology-enabled companies and helps them scale.
- Investment Focus Areas: Technology, innovation, growth equity
- Notable Investments: Airbnb, StubHub
- Ping An Voyager Partners
- Details: Ping An Voyager Partners is the investment arm of Ping An Insurance, focusing on technology and innovation. The firm invests in fintech and healthtech companies.
- Investment Focus Areas: Financial technology, health technology
- Notable Investments: Lufax, OneConnect
What's Next for iCapital Network?
iCapital Network stands at the cusp of significant growth opportunities. With a recent $440 million funding round, the company is poised to enhance its platform technology and expand its range of investment strategies. The projected $1.5 trillion in high-net-worth allocations to private market investments by 2025 underscores the vast potential ahead.
Future fundraising efforts are likely as iCapital Network continues to pursue strategic acquisitions to broaden its client capabilities. The company's strong market position and substantial financial backing suggest that additional funding rounds could further accelerate its growth and technological advancements.
However, challenges such as integrating new acquisitions, navigating regulatory landscapes, and maintaining technological competitiveness remain. Successfully addressing these hurdles will be crucial for iCapital Network to capitalize on the burgeoning demand for alternative investments and sustain its growth trajectory.
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