Global fintech leader iCapital has raised over $820 million in its latest funding round, pushing its valuation beyond $7.5 billion. The financing was co-led by T. Rowe Price and SurgoCap Partners, with ongoing backing from existing investors Temasek, UBS, and BNY, and support from State Street.

Founded in 2013, iCapital provides a comprehensive technology and data infrastructure platform that simplifies access to alternative investments, structured products, and annuities. Its unified system allows financial advisors, wealth managers, and asset managers to manage these offerings alongside traditional investments at scale.

The newly secured funds will help advance iCapital’s global acquisition strategy, accelerate international expansion, and support further technological innovation across its services. Over the years, the company has invested more than $700 million into developing its platform and has completed 23 strategic acquisitions, including names like Mirador, AltExchange, and Parallel Markets. These moves have contributed to the firm’s rapid growth, which now includes a workforce of 1,875 across 16 global offices. iCapital’s platform currently supports over 750 product providers and more than 3,000 wealth management firms, offering access to 2,100 funds and serving 114,000 active financial professionals.

The deal’s financial advisor and placement agency was Goldman Sachs, while its legal counsel was Ropes & Gray.

CEO Lawrence Calcano emphasized that this funding is not just a vote of confidence from investors, but a catalyst to accelerate the company’s mission of enhancing the investing experience. He reiterated the company’s commitment to delivering technology-driven solutions that empower advisors and managers with the tools and insights they need to offer exceptional service in an evolving financial landscape.

David DiPietro of T. Rowe Price praised iCapital for building a platform that is becoming essential to private markets investing, highlighting its blend of sophisticated technology and deep market understanding.