Apollo joins iCapital’s $6B+ late-stage round (2021)

In December 2021, iCapital (New York fintech platform for alternative investments) raised a ~$50M late-stage extension that valued the company at over $6B. Temasek and WestCap led; Apollo Global Management participated alongside other institutional investors.

This is Apollo growth / minority capital into a US fintech software platform — not a control buyout. Dealroom lists the round as LATE VC with Apollo as investor (Temasek/WestCap leads). Private Equity ownership is already tagged. Later rounds (including a 2025 Series E at ~$7.5B) continued without Apollo as lead.

Source: CNA — iCapital valued over US$6B after latest funding (Dec 2021): https://www.channelnewsasia.com/business/fintech-firm-icapital-network-valued-over-us6-billion-after-latest-funding-2399386
iCapital — company site: https://icapital.com/