NEW YORK – (BUSINESS WIRE) – iCapital Network, a leading financial technology platform that is improving access and efficiency in the alternative investment industry, today announced it has been named to the 2019 Forbes Fintech 50 list.
This is the second year that iCapital has been included in the Forbes Fintech 50 list, which highlights the top 50 innovative financial technology companies that are transforming finance through technology. The list includes firms across the areas of personal finance and investing, payments, lending, insurance, real estate, trading, financial information and data, cryptocurrencies and blockchain, business services, and capital markets. The list of 50 is chosen from among hundreds of nominations over a months-long process reviewed by Forbes’ team of reporters and editors.
“We have developed leading technical capabilities to deliver an intuitive and efficient end-to-end platform that empowers the advisory community with streamlined access to, and management of, institutional-quality alternative investments such as private equity and hedge funds,” said Lawrence Calcano, Chief Executive Officer of iCapital Network. “It’s both humbling and motivating to be a member of the Fintech 50 for a second year. I’m grateful for the iCapital team and the support of our investors, partners, and clients helping us develop the industry standard solution and meet the growing demand for alternative investments.”
iCapital’s modular platform is powered by a premier technology solution that fully automates the unique subscription, administration, and reporting processes of alternative investments, and it facilitates access to private investment opportunities through an independent origination and due diligence process that prioritizes quality offerings from an array of managers. The platform was designed to meet the continually evolving needs of all industry participants, the advisors who need simplified, tech-enabled investment processes to help incorporate alternative investments in their clients’ portfolios, the asset managers looking to scale their fundraising efforts, and the wealth management firms seeking a state-of-the-art technology platform to enhance or replace existing systems.
iCapital has experienced substantial growth in both its investor network and new enterprise relationships over the past 12 months. At the end of 2018, iCapital’s platform serviced just over $8 billion in invested capital for approximately 14,000 investor accounts. Following the close of iCapital’s acquisition of Bank of America’s alternative investment feeder fund operations – announced in September 2018 and expected to close in the first half of 2019 – the iCapital platform will service more than $28 billion in invested capital for nearly 70,000 accounts.
Additionally, iCapital has secured strategic investments from some of the largest firms operating in the asset and wealth advisory industry, including Blackstone, JPMorgan Chase, The Carlyle Group, BlackRock, Morgan Stanley and UBS, among other strategic investors. The iCapital team has grown to over 128 employees.
About iCapital Network
iCapital Network is the financial technology platform that is changing the way alternative investments are bought and sold with complete tech-based solutions for advisors, their clients and asset managers. The firm’s flagship platform offers advisors and their clients a curated menu of private equity and hedge funds at lower minimums with a full suite of due diligence and administrative support in a secure digital environment. Banks and asset managers leverage iCapital’s tech-enabled services to streamline and scale their private investments operational infrastructure. iCapital was included in the 2018 and 2019 Forbes FinTech 50 and as of December 2018 serviced more than $8 billion in invested capital across more than 14,000 underlying accounts.
For additional information, please visit the Company’s website at icapital.com | LinkedIn: https://www.linkedin.com/company/icapital-network-inc | Twitter: @icapitalnetwork | Facebook: https://www.facebook.com/icapitalnetwork/
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Disclosures: This material is provided for informational purposes only and is not intended as and may not be relied on in any manner as, legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by iCapital. Past performance is not indicative of future results. Alternative investments are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. The information contained herein is subject to change. Securities may be offered through iCapital Securities, LLC, a registered broker dealer, member of FINRA and SIPC and subsidiary of Institutional Capital Network, Inc. iCapital is a registered trademark of Institutional Capital Network, Inc. All rights reserved.