iCapital Raises USD 820 Mn, Reaches USD 7.5 Bn Valuation 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.

Global fintech firm iCapital has secured over USD 820 million in its latest financing round, pushing its valuation past USD 7.5 billion. The round was co-led by accounts advised by T Rowe Price Associates, Inc, T Rowe Price Investment Management, Inc, and SurgoCap Partners, marking a major milestone for the company as it continues to reshape the investment landscape through advanced technology and infrastructure solutions.

With USD 945 billion in assets serviced globally including USD 257 billion in alternative platform assets and USD 203 billion in structured investments and annuities, iCapital has steadily become a central figure in the digital transformation of wealth and asset management.

"This capital raise reflects our investors' enthusiasm for the opportunity we have to transform the investing experience," said Lawrence Calcano, Chairman and CEO of iCapital. "More importantly, it enables us to accelerate the work that matters most—delivering differentiated value to our clients."

The new funds are earmarked for strategic acquisitions aimed at enhancing user experience, broadening investor access, and reducing friction across the investing ecosystem. As demand grows for alternative assets, structured investments, and annuities, iCapital is focused on strengthening its fully integrated platform, which supports education, transactions, analytics, and client service.

According to David DiPietro, Head of Private Equity at T Rowe Price, "iCapital has built a platform that has not only become foundational to private markets investing, but it is also setting the standard for operational excellence in the industry."

Founded in 2013, iCapital has poured over USD 700 million into its platform to date and completed 23 strategic acquisitions. With a global footprint spanning 16 offices including hubs in New York, London, Zurich, and Singapore, the company now serves more than 3,000 wealth management firms and over 114,000 financial professionals.

Michael Kushner, Chief Financial Officer at iCapital, stated, "The proceeds from this capital raise will be strategically deployed to accelerate our acquisition efforts... expanding our data capabilities and advancing the tools and solutions we provide to wealth and asset managers globally."

Backed by advanced technologies like AI and machine learning, iCapital continues to provide end-to-end lifecycle management for non-traditional investment products, enabling seamless onboarding, performance tracking, and compliance—all within a single unified interface.