In a powerful display of investor confidence, iCapital, the New York-based fintech innovator, announced Thursday it has successfully raised over $820 million in a blockbuster financing round that propels its valuation beyond $7.5 billion. The infusion of capital, steered by legal counsel from Ropes & Gray LLP, solidifies iCapital’s place as a dominant force in private markets and alternative investments.
The round was co-led by institutional heavyweights T. Rowe Price Associates, T. Rowe Price Investment Management, and SurgoCap Partners, all of whom see iCapital not just as a platform—but as the platform that could redefine the investing experience in the digital age.
“This raise isn’t just about numbers—it’s a signal of the momentum behind our mission,” said Lawrence Calcano, Chairman and CEO of iCapital. “We’re here to revolutionize how investors access and interact with alternatives—and now we can move even faster.”
The Engine Behind the Fundraise: A Fintech Titan in Motion
Founded in 2013, iCapital has evolved into a high-powered engine that services $945 billion in assets globally, boasting a sleek interface that streamlines access to structured investments, alternatives, and annuities. More than just a marketplace, iCapital offers a comprehensive end-to-end platform—equipped with analytics, client support, and data flows designed to modernize portfolio management.
To date, the company has poured over $700 million into its technology, completing 23 acquisitions—most recently Mirador, AltExchange, and Parallel Markets, each chosen to deepen its data aggregation, identity verification, and reporting capabilities.
