Funding round
iCapital Growth
Reported as "Growth Equity"
iCapital, which works in alternative investment management solutions in New York, raised $440M in a Growth round announced on 9 Sep 2021, led by Temasek, at a $4.00B post-money valuation. 19 firms took part, 14 of them already investors. It is iCapital's second venture round on record; the one before was a Growth in Mar 2020.
$440M
Amount raised
$4.00B
Post-money valuation
$3.56B pre-money
19
Investors
1 lead
11%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced iCapital at $4.00B after the new money. The $440M bought investors about 11% of the company. It came 18 months after iCapital's Growth. It is 30% of the $1.46B iCapital has raised in the venture rounds on record. iCapital raised again 3 months later: a Growth round of $50M in Dec 2021, at $6.00B post-money.
iCapital's funding rounds
iCapital has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Temasek led the round with 18 other firms. WestCap, Ping An Voyager Partners, Blackstone and UBS and 10 more had backed iCapital before.
Lead investor
- Temasek backs 195 venture-backed companies new investor
Also in the round
- Blue Owl Capital backs 36 venture-backed companies new investor
- BDT & MSD Partners backs 25 venture-backed companies new investor
- Noah Holdings new investor
- Golub Capital new investor
- WestCap backs 36 venture-backed companies existing investor
- Ping An Voyager Partners existing investor
- Blackstone backs 83 venture-backed companies existing investor
- UBS existing investor
- backs 12 venture-backed companies existing investor
- BNY Mellon existing investor
- Wells Fargo existing investor
- Morgan Stanley backs 120 venture-backed companies existing investor
- Goldman Sachs Asset Management existing investor
- BlackRock existing investor
- Carlyle backs 22 venture-backed companies existing investor
- Credit Suisse existing investor
- JPMorgan Chase existing investor
- KKR backs 104 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations, acquisitions and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
17 Growth rounds in Investment Consultants & Financial Advisors within a year either side disclosed an amount; the median was $100M, and this round was 4.4 times the median. The closest in time, other companies' Growth rounds in Investment Consultants & Financial Advisors:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Investment Consultants & Financial Advisors | 17 Sep 2021 | $5.9M | not disclosed | not named |
| Investment Consultants & Financial Advisors | 30 Nov 2021 | $26M | not disclosed | Prosus Ventures and EDBI |
| Investment Consultants & Financial Advisors | 28 Jul 2021 | $3.5M | not disclosed | Pinorena Capital |
| Investment Consultants & Financial Advisors | 29 Jun 2021 | undisclosed | not disclosed | TELEO Capital |
| Wealthsimple Investment Consultants & Financial Advisors | 3 May 2021 | $610M | $4.07B | Meritech Capital and Greylock Partners |
| Investment Consultants & Financial Advisors | 2 May 2021 | $65M | not disclosed | Sequoia Capital India |
| Investment Consultants & Financial Advisors | 20 Jan 2022 | $48M | not disclosed | not named |
| FNZ Investment Consultants & Financial Advisors | 11 Feb 2022 | $1.40B | $20.00B | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did iCapital raise in its Growth round?
iCapital raised $440M in its Growth round, announced in Sep 2021.
Who led iCapital's Growth round?
Temasek led it, with Blue Owl Capital, BDT & MSD Partners, Noah Holdings, Golub Capital and WestCap and 13 more.
What was iCapital's valuation at the Growth round?
$4.00B post-money ($3.56B pre-money).
How does it compare with other Growth rounds in Investment Consultants & Financial Advisors?
17 Growth rounds in Investment Consultants & Financial Advisors within a year either side disclosed an amount; the median was $100M, and this round was 4.4 times the median.
Did iCapital raise again after this round?
Yes: a Growth round in Dec 2021 of $50M at $6.00B post-money.