Private Valuation & Funding Round Tracker · iCapital

iCapital funding rounds & valuation history

Name: iCapital Funding Rounds & Valuation History
Creator: growthnavigatefunding.net

iCapital, the New York fintech platform that gives wealth managers access to private-market and alternative investments. Funding from the Funding round (2020) to the Funding round (Jul 2025), sourced to iCapital, Connect Money and InvestmentNews.

Last updated: 13 Nov 2026 (IST). Every figure re-checked against the linked sources that day. Rows: 4 Currency: US$, nominal

⬇ Download CSV Cite this dataset Methodology & status definitions

Last closed round Closed

Over $7.5B

$820M+ Funding round (Jul 2025)

Raised in rounds listed

$1.472B

Sum of 4 closed rounds with a disclosed amount (GNF calc.)

Largest round

$820M+

Funding round (Jul 2025)

Closed rounds listed

Mar 2020 to Jul 2025

Round history

Newest first. Dashed badges and striped rows are not closed transactions. “—” means the source does not disclose the figure or it cannot be computed on the same basis; see the note in each row.

iCapital funding rounds, Mar 2020 to Jul 2025
Date	Status	Round	Amount	Lead / buyer	Valuation	Val. ÷ run-rate	Source
10 Jul 2025	Closed round	Funding round (Jul 2025)	$820M+	T. Rowe Price, SurgoCap Partners	Over $7.5BLower bound stated by iCapital (“over $7.5 billion”)	—Not disclosedNo run-rate stated in the announcement	iCapital, 10 Jul 2025Also: Connect Money, 2026
Dec 2021	Closed round	Round extension (Dec 2021)Month only. Added to the July 2021 round when more investors wanted in (InvestmentNews).	$50M	—Not disclosed	Over $6BLower bound (InvestmentNews: “more than $6 billion”)	—Not disclosedNo run-rate stated in the announcement	InvestmentNews, Dec 2021
Jul 2021	Closed round	Funding round (Jul 2021)Month only. InvestmentNews puts the July total at $447M.	$440M	TemasekWith: Owl Rock, MSD Partners and others	About $4BStated by iCapital (“approximately $4.0 billion”)	—Not disclosedNo run-rate stated in the announcement	iCapital, Jul 2021Also: InvestmentNews, Dec 2021
Mar 2020	Closed round	Funding round (2020)Announced March 2020; final close $162M per iCapital.	$162M	—Not disclosed	Not stated in the sources readNo company valuation stated by the source	—Not disclosedNo run-rate stated in the announcement	iCapital, Jul 2021

Step-up = valuation ÷ the prior closed valuation (GNF calc.), shown only where both figures were stated or reported and neither is a lower bound.

Valuation at each closed round

Valuations as stated or reported at each closed round with a disclosed figure; talks, tenders and filings are not plotted.

Jul 2021Jul 2021About $4B
Dec 2021Dec 2021Over $6B
Jul 2025Jul 2025Over $7.5B

Sources: iCapital, Connect Money, InvestmentNews. US$ billions, linear scale.

Timeline

Each round and share sale, oldest first.

Mar 2020 · Closed
Funding round (2020): $162M.
Jul 2021 · Closed
Funding round (Jul 2021): $440M at About $4B led by Temasek.
Dec 2021 · Closed
Round extension (Dec 2021): $50M at Over $6B.
10 Jul 2025 · Closed
Funding round (Jul 2025): $820M+ at Over $7.5B led by T. Rowe Price, SurgoCap Partners.

Still private: iCapital has not filed for an IPO and is not owned by a listed company. DTCC took an undisclosed minority stake in 2026; Mergermarket has reported advisers watching it as a possible IPO candidate.

Cite this dataset

Free to quote with a link back. Copy this citation:

iCapital Funding Rounds & Valuation History. Private Valuation & Funding Round Tracker, GrowthNavigateFunding.net, updated 13 Nov 2026. https://growthnavigatefunding.net/funding/icapital/

Download the data

The same 4 rows as the table: numeric US$ columns, empty cells where a figure is not disclosed, and a source URL for every row.

File: icapital-rounds.csv (UTF-8, comma-separated)
Stable URL: https://growthnavigatefunding.net/wp-content/uploads/2026/11/icapital-rounds.csv
Columns: id, date, date_precision, status, transaction_type, round, amount_usd_low, amount_usd_high, lead_or_buyer, co_leads, valuation_usd_low, valuation_usd_high, valuation_basis, valuation_to_run_rate_multiple, multiple_bound, multiple_basis, step_up_vs_prior_closed, price_per_share_usd_low, price_per_share_usd_high, shares, source, source_url, other_source_urls, notes, last_updated
Updated: 13 Nov 2026 (IST)

⬇ Download CSV

Methodology & status definitions

How each row is labelled and calculated.

Closed round

A primary round announced by the company or confirmed in the press, bringing new money to the company.

Valuation ÷ run-rate

Post-money valuation ÷ the run-rate the company stated in that announcement (GNF calc.). Where the run-rate is “crossed” or “over” a figure, the multiple is shown as “under X×”. No row qualifies here unless shown, so no multiple is invented.

What is not a separate row

The 2026 DTCC investment (amount and valuation undisclosed); rounds before 2020; acquisitions made by iCapital.

Updates & corrections

This page stays at one address and is updated in place; the “Last updated” date above drives the citation and the dataset metadata. Corrections: hello@growthnavigatefunding.net. Informational only; not investment advice.

Changelog

13 Nov 2026: Dataset first compiled (batch 3, not yet published).

iCapital Funding Rounds & Valuation History (2020–2025)