iCapital Raises Over $820M in Funding Round Led by T. Rowe Price and SurgoCap Partners

iCapital, the global fintech firm reshaping investment infrastructure, has secured more than $820 million in a financing round co-led by T. Rowe Price and SurgoCap Partners. The deal values the company at over $7.5 billion and includes participation from State Street alongside existing backers Temasek, UBS, and BNY Mellon.

The fresh capital will fuel iCapital's global acquisition strategy, geographic expansion, and technology innovation. The platform currently services $945 billion in assets worldwide, including $257 billion in alternative investments and $485 billion in client-reported assets.

"This funding reflects our investors' conviction in our vision to transform wealth management," said Chairman and CEO Lawrence Calcano. The firm's enterprise solutions combine technology and data infrastructure to power institutional-scale investing.