InvestCloud, a Los Angeles-based fintech firm whose services include a wealth management platform, has completed a recapitalization that includes capital from new investors led by Motive Partners and Clearlake Capital, as well as other InvestCloud client shareholders.
Under the terms of the agreement, InvestCloud will add two businesses from Motive Partners' portfolio businesses — Finantix and Tegra118 — creating a global software-as-a-service wealth solutions platform.
Tegra118 has the largest integrated platform in the U.S., the company said in a release, connecting leading fund sponsors with the largest broker-dealers.
The recapitalization values InvestCloud's business at $1 billion, the company said.
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