iCapital Network, a new online marketplace connecting qualified investors with private equity fund managers, has closed its second round of financing, raising USD9.25 million from both existing and new investors.
“Our vision at iCapital Network is to transform the private fundraising practice and break down longstanding barriers preventing qualified investors from building the diversified private equity portfolios they desire,” says Lawrence Calcano, managing partner, iCapital Network. “This new round of financing will allow us to continue building out our innovative platform and bring private funds to a broader audience.”
iCapital Network has created a platform that enables qualified investors and their advisors to see over 2,000 private equity funds that are currently raising capital. The platform’s powerful suite of tools allows users to search and analyse funds as well as gain access to a subset of funds at low investment minimums through iCapital Private Access Funds. iCapital’s secure platform is accessible free of charge to thousands of qualified investors and advisors, including independent RIA firms, family offices and institutional investors.
“iCapital Network brings a distinctive and innovative approach to private equity investing,” says Dinkar Jetley, partner, Pivot Investment Group and former CEO of worldwide securities services at JPMorgan Chase. “Platforms serving the wealth management industry are of deep interest to us. iCapital has assembled a superb management team and an impressive array of strategic partners, and we are excited to be an investor and look forward to supporting their success.”
Dan Vene, Co-founder and managing partner, iCapital Network, says: “We’re incredibly pleased to have the support of a marquee group of investors and strategic partners, including Credit Suisse’s private fund group, Eaton Partners, Park Hill Group, Evercore’s Private Funds Group, Pivot Investment Partners, Monument Group, Capstone Partners, Gen II Fund Services and select strategic individuals.”
