American fintech outfit iCapital is set to strengthen its technology development team by hiring over 100 new employees.

The new appointments will be made at the company’s software engineering, product management and infrastructure development divisions.

They will be based in iCapital’s offices in New York, Greenwich, Connecticut, and Lisbon.

The new recruits will help the alternative investments market by enabling advisors and their clients to obtain improved results, said the alternative investments firm that serves the wealth management industry.

Over 400 technologists currently contribute to the company, which employs a workforce of 1,050 people across the globe.

iCapital chairman and CEO Lawrence Calcano said: “We are thrilled to be able to add such a large number of talented individuals to our team.

“The team is dedicated to providing cutting-edge technology, and these new hires will help us continue to push the boundaries of what is possible in the wealth management industry to help investors reach their goals.”

The latest development comes shortly after iCapital announced a partnership with fund distribution company Unicorn Strategic Partners (UnicornSP) to serve wealth managers in Latin America.

Under the alliance, UnicornSP will function as a local partner of distribution and product specialist.

In September last year, iCapital formed a collaboration with Tikehau Capital to help wealth managers avail alternative investment tools in Europe, the Middle East and Africa (EMEA).