Global fintech firm raises $440m to pursue acquisition spree
iCapital Network, the global financial technology platform specialising in alternative investing for asset and wealth management, has raised $440m (£317m, €372m) to fund its expansion plan.
The company said it “will use the proceeds from the capital raise to enhance its platform technology, expand the breadth of strategies and product types on its alternative investment menu, and pursue strategic acquisitions that will broaden its client capabilities”.
Temasek led the fundraising round, joined by Owl Rock, a division of Blue Owl Capital, MSD Partners, Noah Holdings and Golub Capital.
Additional investments came from existing investors, including WestCap, Ping An Voyager Partners, Blackstone, UBS, Pivot Investment Partners, BNY Mellon, Wells Fargo, Morgan Stanley and Goldman Sachs Asset Management.
Currently, the company’s valuation is approximately $4bn.
To read more, please click on the link below…
Source: Global fintech firm raises $440m to pursue acquisition spree | International Adviser