iCapital Network, a New York City-based online alternative investments platform, received more than $300 million in investment commitments in 2015, the firm’s first full year in business, the company announced Wednesday.
The firm processed commitments across 11 feeder funds last year, providing access to private equity, credit, real estate and venture capital funds for more than 500 investors. iCapital was launched 15 months ago and has 750 members with total investable assets of more than $1.3 trillion. The network includes broker-dealer platforms, private banks, more than 100 family offices and nearly 250 of the largest wealth managers in the industry.
“As demand from wealth advisors, financial intermediaries, family offices and high-net-worth investors for alternative investments continues to flourish, so too does the iCapital offering,” said Lawrence Calcano, managing partner.
“Our goal is to provide a truly streamlined, intuitive and transparent platform so that advisors can do what they do best, which is focus on their client portfolios,” added Dan Vene, co-founder and managing partner.
The platform allows qualified investors and wealth managers to analyze—free of charge—more than 2,000 private equity funds that are actively raising money. The system’s iCapital Private Access Fund Program offers qualified investors and advisors access to a subset of 2,000 funds, some with minimum investments as low as $100,000.