Enhances iCapital’s advanced AI and ML-driven technologies, streamlining post-investment processes and improving decision-making for private markets participants

iCapital^® to Acquire AltExchange to Enhance Data Management Capabilities

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iCapital¹, the global fintech platform driving

the world’s alternative investment marketplace for the wealth and asset management industries, and AltExchange, a leading AI-driven technology firm transforming alternative investment data aggregation, management, and reporting for financial advisors and asset managers, today announced they have entered a definitive agreement under which iCapital intends to acquire AltExchange.

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“AltExchange has developed one of the most advanced document retrieval solutions that’s connected to sophisticated mapping, routing technology and LLM (Large Language Model) based document extraction,” said Lawrence Calcano, Chairman and CEO of iCapital. “This acquisition complements the investments we are making in our internal R&D to further enhance our data management capabilities. Combined with our existing solutions, it allows us to deliver on our goal of creating reliable end-to-end data management services for all our clients. These capabilities will help our clients collect, extract, and organize their data more efficiently and cost-effectively, therefore making more informed decisions and achieving their financial objectives. We are excited to welcome AltExchange to iCapital.”

AltExchange’s advanced technology aggregates and converts unstructured data from scattered documents and multi-format data feeds into structured insights to support real-time data reporting and streamlined tax reporting. AltExchange’s AdvisorVue platform empowers financial advisors by aggregating clients’ portfolios, standardizing data and documents, and automating reporting processes. For asset managers, AltExchange’s Digital Custodian Platform (DCP) provides a powerful tool to standardize post-investment reporting data, automate investor reporting, and facilitate seamless integration with advisors’ systems.

“We built an intuitive advisor-facing platform to manage, monitor, and report on alternative investments, offering comprehensive tools for document management, advanced alerts, and streamlined tax workflows,” said Kareem Hamady, CEO of AltExchange, who will be joining iCapital as part of the acquisition. “We are thrilled to join iCapital and offer our collective clients automated data aggregation, reporting, and direct integrations with leading asset and wealth management systems, providing a seamless experience for advisors and their clients.”

Terms of the agreement were not disclosed.

About iCapital
iCapital powers the world’s alternative investment marketplace, offering a complete suite of tools, end-to-end enterprise solutions, data management and distribution capabilities, and an innovative operating system. iCapital is the trusted technology partner to financial advisors, wealth managers, asset managers, as well as other participants in this ecosystem, and offers unrivaled access, technology, and education to incorporate alternative assets, structured investments (SI), and annuities into the core portfolio strategies for their clients.

At the forefront of the digital transformation in alternative investing, iCapital’s secure platform delivers a complete portfolio of management capabilities for education, transactions, data flows, analytics, and client support throughout the investment lifecycle. With $200 billion+² in global platform assets, the iCapital operating system automates and streamlines the complex process of private market investing, and seamlessly integrates with clients’ existing infrastructure platform and tools.

iCapital employs more than 1,675 people globally and has 17 offices worldwide, including New York, Greenwich, Zurich, Lisbon, London, Hong Kong, Singapore, Tokyo, and Toronto. iCapital has consistently been recognized for its outstanding innovation, fintech industry leadership, and performance, including CNBC World Top Fintech Companies for 2024, and Forbes Fintech 50 for seven consecutive years since 2018.

For more information, visit icapital.com | X (Twitter): @icapitalnetwork | LinkedIn: https://www.linkedin.com/company/icapital-network-inc/

About AltExchange
AltExchange is an award-winning fintech platform modernizing how financial advisors, asset managers, and investors manage alternative investments. Through seamless integrations with top wealth management systems, real-time performance reporting, and enterprise-grade security, AltExchange fully automates alternative investment management, empowering users to focus on building wealth through alternatives effortlessly.

For more information, visit www.altexchange.com
LinkedIn: https://www.linkedin.com/company/altexchange/

This material has been provided to you for informational purposes only by iCapital, Inc. and/or one of its affiliates including Institutional Capital Network, Inc. (collectively, “iCapital”). This material is the property of iCapital and may not be shared without its written permission. No part of this material may be reproduced in any form or referred to in any other publication without express written permission of iCapital. This is not intended as, and may not be relied on in any manner as, legal, tax or investment advice, a recommendation to employ a specific investment strategy, or as an offer to sell, a solicitation of an offer to purchase, or a recommendation of any interest in any fund or security. Security products and services are offered through iCapital Markets LLC, a registered broker/dealer, member FINRA and SIPC. Financial products made available by iCapital Markets LLC may be complex and/or speculative and are not suitable for all investors. iCapital Advisors, LLC is an investment adviser registered with the Securities and Exchange Commission and acts as an adviser to certain privately offered investment funds. “iCapital” and “iCapital Network” are registered trademarks of Institutional Capital Network, Inc. © 2024 Institutional Capital Network, Inc. All Rights Reserved.

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¹ iCapital, Inc., and its affiliates (together, “iCapital”)
² As of September 30, 2024

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