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iCapital Network recently closed a $146 million capital raise.
Fremont, CA: iCapital Network, a leading financial technology platform in extending access and efficiency in alternative investing, secures a $146 million capital boost to fuel the company's growth ahead. Ping An Global Voyager Fund ("Ping An") led the round along with new investors Goldman Sachs, Affiliated Managers Group, Hamilton Lane and WestCap. Existing investors such as BlackRock, UBS Financial Services, Inc., Blackstone, and BNY Mellon, also made additional commitments.
Through this financing round, iCapital laid the foundation to a strong balance sheet and capital base from which the company might operate independently. The funding will enable the company to boost its platform technology and expand its functionality to support its existing clients and constant growth teamed with diversified investment offerings platter and a globalized investor base. In addition to the above, the funding will support iCapital's continued commitment to the international marketplace as it reinforces relationships with partners across North America, Europe, Asia, and the Middle East. iCapital will extend its commitment to market education and build its team to assist in scaling up and improvement of the high-quality services and technical innovations it presents to clients. Additional existing strategic partners and investors in iCapital include The Carlyle Group, Credit Suisse, JPMorgan Chase & Co, and Morgan Stanley Investment Management.
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"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," said Lawrence Calcano, Chief Executive Officer of iCapital Network. "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."
In addition to the investment, Ping An and other investors have expressed intent to or have already forged partnerships with iCapital to leverage its proprietary technology to assist in the management of end-to-end operations of their private market activities meant to increase the net-worth of wealth management marketplace. The latest update of the company expands to a consortium of the most influential firms in wealth and asset management industries in alignment with iCapital's research and development of a standard technology solution for alternative investments in the industry.
See also: Top Wealth Management Technology Solution Companies
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