How Much Did iCapital Raise? Headquarters, Funding & Key Investors

iCapital has raised a total of $1.49 billion to date, including a $820 million Series E round in July 2025, preceded by a $440 million Series D tranche in July 2021, a $146 million Series C in March 2020, a $11.8 million Series B in December 2017, and a $10 million Series A in June 2015. This funding has supported its growth, enabling investors to access private companies, startups, and real estate investment vehicles. With the latest round pegging its valuation at $7.5 billion, iCapital is poised for further expansion in the alternative-investments infrastructure space.

How Much Did iCapital Raise? Funding & Key Investors

iCapital, founded in 2013 in New York by Lawrence Calcano, is a fintech company providing a platform for investing in private companies, startups, and real estate funds. Its software enables wealth advisors, asset managers, and individual investors to access and manage alternative investments in a unified digital infrastructure. The company has raised $1.49B across multiple funding rounds, led by investors like T. Rowe Price, Temasek, and Blackstone, reaching a $7.5B valuation in July 2025. iCapital plans global expansion, strategic acquisitions, and technology enhancements.

What Is iCapital and What Does It Do?

iCapital, founded in 2013 by Lawrence Calcano (Chairman & CEO), is a New York-based (United States) fintech company in the investment-tech sector.

With a team of around 535 employees as of December 2022, iCapital provides software solutions that enable users to invest in private companies, startups or growth-stage businesses, as well as commercial or residential real estate, REITs or real-estate funds.

The company’s platform enables wealth advisors, asset managers, and individual investors to access, manage and transact alternative investment vehicles-bringing private-market, structured-investment, and real-estate opportunities into a unified digital infrastructure.

How Much Funding Has iCapital Raised?

1. Seed / Series A

Amount Raised: $10 M
Date: June 2015
Motivation: To establish the platform and enable access to alternative investments.

2. Series A (additional)

Amount Raised: $9.25 M
Date: October 2014
Lead Investors: Pivot Investment Partners (Institutional) and Credit Suisse, Eaton Partners, Park Hill, Gen II Fund Services, Evercore, Monument Group, Capstone Headwaters (Corporate)
Motivation: Early expansion of technology and investor access infrastructure.

3. Series B

Amount Raised: $11.8 M
Date: December 2017
Lead Investors: Institutional: Blackstone, The Carlyle Group
Motivation: To scale the platform’s alternative-investment servicing capabilities.

4. Series C

Amount Raised: $146 M
Date: March 2020
Lead Investors: Institutional: Goldman Sachs, WestCap, Blackstone (Corporate: Ping An, Affiliated Managers Group, Hamilton Lane, BlackRock, BNY Mellon, UBS)
Motivation: Enhance global infrastructure, expand product offerings and support growth.

5. Series D

Amount Raised: $440 M
Date: July 2021
Lead Investors: Institutional: Temasek, MSD Partners, Owl Rock, Blackstone, Pivot Investment Partners, WestCap, Goldman Sachs (Corporate: Noah Holdings, Golub Capital, Wells Fargo, Morgan Stanley, BNY Mellon, Goldman Sachs Asset Management, UBS, Ping An)
Motivation: Major scaling of operations, global expansion, and technology investment.

6. Series E

Amount Raised: $820 M
Date: July 2025
Lead Investors: Institutional: SurgoCap Partners, Apollo Global Management, Blackstone, Temasek (Corporate: T. Rowe Price, BlackRock, UBS, BNY, State Street, J P Morgan; Facilitator: Goldman Sachs, Ropes & Gray)
Motivation: To accelerate global acquisition strategy, geographic expansion, and technology innovation.

Total Funding Raised: $1.49 Billion

Current Valuation: $7.5 Billion (as of July 2025)

Latest Funding Date: July 2025

Key Investors

T. Rowe Price
- Details: U.S.-based asset manager and investor; co-led the latest Series E.
- Investment Focus Areas: Wealth management, technology-enabled asset servicing, fund platforms.
- Notable Investments: Microsoft Corporation (MSFT), Apple Inc, NVIDIA Corporation.\
InterAlpen Partners
- Details: European investor specialising in technology, alternative assets and platforms.
- Investment Focus Areas: Growth-stage firms, digital infrastructure, financial technology.
- Notable Investments: Bicycle Health, NEURA Robotics, HZO, Forge Global.\
Temasek
- Details: Singapore-based sovereign wealth fund and strategic investor.
- Investment Focus Areas: Global technology, financial services, growth markets.
- Notable Investments: Adyen N.V., Alibaba Group Holding Limited, Singtel.\
Blackstone
- Details: Large alternative asset manager, also a strategic investor in the platform.
- Investment Focus Areas: Private markets, wealth platforms, infrastructure.
- Notable Investments: Invenergy Renewables, Theramex, PS Business Parks.

Where Is iCapital’s Headquarters?

iCapital is headquartered in New York, United States. Being based in New York situates the company at the heart of global financial markets, wealth management firms, and asset management networks.

What’s Next for iCapital?

Having secured its $820 million Series E funding round and achieved a valuation of $7.5 billion in July 2025, iCapital is poised to expand globally, accelerate strategic acquisitions, and enhance its technology platform for alternative investments. It faces challenges such as increasing competition in wealth technology, regulatory scrutiny of alternative asset access, and the integration of acquired companies.

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