New York-based fintech platform iCapital Network is set to hire 200 new employees over the next two years for its office in Greenwich, Connecticut.

The move comes as the company looks to expand its operations to meet the need for technology solutions in support of the evolving demand for alternative investments.

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The expansion is backed by the Connecticut Department of Economic and Community Development’s ‘earn-as-you-grow’ incentives, which provides grants in arrears as job targets are met.

Launched in 2013, iCapital provides end-to-end technology and service solutions that enable wealth management, banking, and asset management industries to facilitate access to private markets investments for their wealthy clients.

iCapital’s solutions are leveraged by wealth management firms to offer simplified digital workflows to clients with funds.

Asset managers and banks tap the firm’s technology to streamline and grow their private investments operational infrastructure.

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Additionally, iCapital’s platform offers financial advisers and their HNW clients access to a spectrum of private credit, hedge funds, equity, and other alternative investments.

Commenting on the latest development, iCapital Network chairman and CEO Lawrence Calcano said: “When we considered locations for the expansion of our domestic footprint, Connecticut was the obvious choice.

“I respect the Governor’s commitment to bringing top-tier employers and good jobs to Connecticut and supporting entrepreneurship in innovative sectors that will drive economic growth.”

In January this year, iCapital agreed to purchase the assets of alternative investment education and compliance platform AI Insight.

Last year, the firm raised $146m to support its growth as an independent company.