Ropes & Gray Represents iCapital Network in Raising $440 Million
Ropes & Gray advised leading global financial technology platform iCapital Network in raising $440 million in new financing giving the company an approximate valuation of $4 billion. The transaction was announced on July 27.
iCapital will use the proceeds from the capital raise to enhance its platform technology, expand its alternative investment products and pursue strategic acquisitions.
The fundraising round was led by Temasek, joined by new investors Owl Rock Capital, MSD Partners, Noah Holdings and Golub Capital. Additional commitments came from existing investors WestCap, Ping An Voyager Partners, Blackstone, UBS, Pivot Investment Partners, BNY Mellon, Wells Fargo, Morgan Stanley and Goldman Sachs Asset Management.
The Ropes & Gray team was led by venture capital & emerging companies partner Brad Flint (Boston), private equity associates Paul White and Neil Stocco (both of New York) and litigation & enforcement associate Brandon Sisson (Boston) and included private equity partner Scott Abramowitz (New York), litigation & enforcement partner Ama Adams (Washington, D.C.), and litigation & enforcement counsel Deidre Johnson (Boston) and Brendan Hanifin (Chicago).