iCapital Network announced on Monday that it has completed it’s latest round of financing with an investment from Morgan Stanley Investment Management.
iCapital, a New York City-based digital platform for alternative investments, will use the funds to further enhance and develop its capabilities.
“Our strategic partnerships represent industry confidence in iCapital’s technology-led approach to solving the long-standing obstacles that prevent individual investors from accessing institutional-caliber investments,” said Lawrence Calcano, iCapital Network CEO, in a released statement. “We are honored to work with companies like Morgan Stanley who believe in and work toward our mission of democratizing access to alternative investments.”
Morgan Stanley will use iCapital’s technology to streamline parts of its private fund operations.
Further terms of the transaction were not available.
Morgan Stanley’s investment comes just after iCapital announced that it had secured funding and a partnership with UBS. With BlackRock as its lead investor, iCapital has now raised $50 million in total funding.