iCapital Network announced it closed a $146 million capital raise to fuel its future growth. Ping An led the round, joined by new investors Goldman Sachs, Affiliated Managers Group, Hamilton Lane and WestCap. The funding values the company at $860m.
Through this financing, iCapital has built a strong balance sheet and capital base from which to operate as an independent company. This funding will allow the Company to enhance its platform technology and expand functionality in support of its existing clients and continued growth, a diversified slate of investment offerings and a globalized investor base. In addition, the funding will support iCapital’s continued commitment to the international marketplace as it solidifies relationships with partners across North America, Asia, Europe and the Middle East. iCapital will further its commitment to market education and build its team to help scale and improve upon the high-quality services and technical innovations it provides to clients.