The round was co-led and funded by accounts advised by T. Rowe Price Associates, Inc. and T. Rowe Price Investment Management, Inc. and SurgoCap Partners, bringing the company's valuation to over $7.5 billion. With $945 billion of assets serviced globally on its platform, including $257 billion in alternative platform assets, $203 billion in structured investments and annuities outstanding, and $485 billion in client assets reported on, iCapital continues to transform the wealth and asset management landscape through technology, data infrastructure, and end-to-end enterprise solutions that power investing at scale.

Additional participation in the round came from State Street, and increased commitments from existing investors Temasek, UBS, and BNY.

iCapital is a global leader, shaping the future of global investing for financial advisors, wealth managers, asset managers, and other industry participants. iCapital offers a diverse and complete range of non-traditional investment products on iCapital Marketplace, Enterprise Solutions, and both Technology and Data Services, designed to help drive better outcomes2 for all participants in the ecosystem.