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June 16, 2021

Addepar secures $150m from D1 Capital Partners at over $2bn valuation

By Verdict Staff

Wealth management platform Addepar has raised $150m from D1 Capital Partners at a pre-money valuation of $2bn as part of its Series F financing round.

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The company said it will use the money to support the growth and development of its platform as it looks to expand its business and workforce into new geographies.

The company

Established by Joe Lonsdale in 2009, Addepar claims to bring together ‘elite technology culture and platform-based approach with a client-centric mindset’.

With $2.7 trillion in client assets on its platform, the company is said cater to more than 600 family offices, RIAs, private banks and large financial institutions in over 25 countries.

Last year, Addepar launched Marketplace, a new application within its platform, to enable clients to view and assess a range of offerings and digitally initiate transactions.

It also introduced the Investor Sentiment Index, which utilises aggregated and anonymised data across over 10,000 portfolios with minimum $10m to offer timely insights to users.

In January, Addepar launched Navigator following its takeover of Real Capital Innovation.

Navigator is designed to help clients codify cash flow, liquidity, and tax projections, and refine pacing models among other ex ante capabilities.

Both Marketplace and Navigator complement Addepar’s data aggregation, management and analysis capabilities and are available to Addepar’s software clients as additional offerings.

In 2017, Morgan Stanley partnered with Addepar to enable its Private Wealth Management teams to offer differentiated service to HNW clients.

Previous fundraises

Last November, Addepar raised $117m in a Series E financing round to support its expansion plans.

The fundraising was led by growth equity firm WestCap Group, which earlier invested $40m in the firm.

The round took the total capital raised by the firm to $325m.

Comments

Addepar CEO Eric Poirier said the new investment underscores the trajectory and strength of Addepar’s business.

D1 Capital Partners principal Prateek Bhide said: “Addepar has built a world-class wealth management platform and has demonstrated an ability to service some of the industry’s most demanding clients.

“Addepar has a unique opportunity to rapidly expand the platform to address the $225trn in investable assets around the world. We look forward to partnering with them on this journey.”

Lonsdale added: “This is a rare company where the second decade is much more exciting than the first – Addepar will continue to grow at a high rate for a long time, and will be a much more impactful platform than people yet realise, as a key part of the global financial infrastructure.”

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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