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ICAPITAL
iCapital
Fintech / alternative-investment platforms · United States · Founded · 2013 · ≈ · 1,510 · employees

iCapital Funding — Last Valued at $7.5B

Private

iCapital has raised $1.1B across 8 funding rounds, plus 2 undated rounds. The latest round valued iCapital at $7.5B post-money, with T. Rowe Price, SurgoCap Partners on the lead line.

ProfileValuationFundingCompetitorsStock & IPOHow to invest
iCapital funding · at a glance
Total raised, all rounds
$1.1B
some round sizes not disclosed
Funding rounds
8
plus 2 undated rounds
Latest round
$7.5B
post-money · Jul 2025
Lead on that event
T. Rowe Price
lead investor
2025
About iCapital

iCapital's backers include financial institutions such as JPMorgan Chase and Morgan Stanley, plus asset managers including BlackRock, Fidelity Investments and Blackstone. By 2025 the company had reached a $7.5 billion valuation.

Funding timeline

The iCapital funding timeline

8 funding rounds, the latest highlighted.

2013
iCapital founded

iCapital was founded in 2013, United States.

UNDATED
Seed, Series D extension

No date is disclosed for this round.

OCT 2014
Series A

Pivot Investment Partners, Eaton Partners, Park Hill, Gen II Fund Services, Evercore, Monument Group, Capstone Headwaters. $9.2M raised, led by Credit Suisse.

Valuation basisAmount$9.2MPrice / shareLeadCredit Suisse
JUN 2015
Series A extension

A primary round — the company sells new shares to investors it selects. $10M raised.

Valuation basisAmount$10MPrice / shareLead
DEC 2016
Series B

A primary round — the company sells new shares to investors it selects. $14.8M raised, led by BlackRock.

Valuation basisAmount$14.8MPrice / shareLeadBlackRock
DEC 2017
Series B extension

UBS Financial Services, Morgan Stanley Investment Management. $11.8M raised, led by BlackRock.

Valuation basisAmount$11.8MPrice / shareLeadBlackRock
AUG 2018
Series B extension

BlackRock, BNY Mellon, Credit Suisse, UBS, Morgan Stanley. $25.7M raised, led by Blackstone, The Carlyle Group, JPMorgan Chase.

Valuation basisAmount$25.7MPrice / shareLeadBlackstone, The Carlyle Group, JPMorgan Chase
MAR 2020
Series C

Goldman Sachs, BlackRock, Blackstone, UBS. $146M raised, led by Ping An Global Voyager Fund.

Valuation basisAmount$146MPrice / shareLeadPing An Global Voyager Fund
JUN 2022
Bank of America investment round at $6B post-money

A primary round — the company sells new shares to investors it selects. Led by Bank of America.

Valuation basispost-moneyAmountPrice / shareLeadBank of America
JUL 2025LATEST
2025 round at $7.5B post-money

A primary round — the company sells new shares to investors it selects. $820M raised, led by T. Rowe Price, SurgoCap Partners.

Valuation basispost-moneyAmount$820MPrice / shareLeadT. Rowe Price, SurgoCap Partners
IPO: NOT ANNOUNCED

No filing has been made.

Funding rounds

iCapital funding rounds in full

8 dated rounds, newest first.

Round
Date
Amount
Valuation
Price / share
Lead investors
Participation
2025 round LATEST
Jul 2025
$820M
$7.5Bpost-money
—
T. Rowe Price, SurgoCap Partners
—
Bank of America investment round
Jun 2022
—
$6Bpost-money
—
Bank of America
—
Series C
Mar 2020
$146M
—
—
Ping An Global Voyager Fund
Goldman Sachs, BlackRock, Blackstone, UBS
Series B extension
Aug 2018
$25.7M
—
—
Blackstone, The Carlyle Group, JPMorgan Chase
BlackRock, BNY Mellon, Credit Suisse, UBS, Morgan Stanley
Series B extension
Dec 2017
$11.8M
—
—
BlackRock
UBS Financial Services, Morgan Stanley Investment Management
Series B
Dec 2016
$14.8M
—
—
BlackRock
—
Series A extension
Jun 2015
$10M
—
—
—
—
Series A
Oct 2014
$9.2M
—
—
Credit Suisse
Pivot Investment Partners, Eaton Partners, Park Hill, Gen II Fund Services, Evercore, Monument Group, Capstone Headwaters
Seed
—
$3M
—
—
—
—
Series D extension
—
$50M
—
—
WestCap
Apollo, Temasek
iCapital · investors

Investors

WWestCapLEADT. Rowe PriceLEADSSurgoCap PartnersLEADBank of AmericaLEADPPing An Global Voyager FundLEADBlackstoneLEADThe Carlyle GroupLEADJPMorgan ChaseLEADBlackRockLEADCCredit SuisseLEADMorgan StanleyFFidelity Investments

Frequently asked questions

What is iCapital's valuation?›

The last valuation is $7.5B.

Who has invested in iCapital?›

Lead investors for each round are in the funding timeline.

Who are iCapital's competitors?›

The closest fintech / alternative-investment platforms peers are on the competitors page.

How can I get exposure to iCapital?›

The routes section explains what is realistically available for a company at this stage.

Is iCapital publicly traded?›

No. iCapital is a private company; its shares do not trade on a public exchange.

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