iCapital Network Inc. raised $440 million in a funding round that values the upstart investing platform at around $4 billion.
The firm provides technology and runs funds to help financial advisers invest client money in private equity. It links buyout firms, hedge funds, financial advisers and investors who want alternatives to stocks and bonds.
Singapore state investment company Temasek led the latest round.
Blue Owl Capital Inc.’s arm Owl Rock, MSD Partners LP, Chinese wealth-management firm Noah Holdings Ltd. and Golub Capital invested in the firm for the first time. Some early backers such as Blackstone Group Inc. added further investments.
Money-management giant BlackRock Inc. remains iCapital’s largest minority backer with a nearly 30% stake in the financial technology firm.
