Alternative investments platform company iCapital Network yesterday announced it raised $440 million from a host of investors, which it said will enable it to boost its capabilities and expand globally.
Temasek, a Singapore-based global investment company, led the investment round that included four new investment partners and nine existing capital partners. According to the press release announcing the fundraising, privately held iCapital is now valued at roughly $4 billion.
Based in New York City and with four other offices in Europe and Asia, iCaptial is an eight-year-old fintech company whose platform enables wealth management, banking and asset management firms to access private-market investments.
The company said financial advisors can use its platform to enable their high-net-worth clients to invest in a menu of private equity, private credit and hedge fund opportunities, along with other alternative investments.
iCapital said it plans to deploy its newly raised funds to boost its platform technology, expand the strategies and products on its alternative investment menu and pursue strategic acquisitions.
As of June 30, iCapital serviced more than $80 billion in global client assets across more than 780 funds, according to the company.