Since its founding in 2013, iCapital has been among a crop of specialist firms, often harnessing modern technology, to break down older barriers of access to private markets/alternative investments. In this latest story, insurance is on the menu.

iCapital, a New York-headquartered alternatives investment platform, has agreed to buy Hexure, a digital and AI-powered sales automation solutions for insurance, financial services, and wealth management. The financial terms were not disclosed.

The move is another example of how iCapital, which was founded more than a decade ago, has disrupted the ways that investments such as private equity are brought to clients. In the past, the marketplace was dominated by investment banks and large institutional investors. As private market investing has expanded, iCapital, along with peers such as CAIS (US) and Moonfare (Germany), have moved into the space.

Explaining the deal, iCapital said it is advancing its goal to build the “industry’s first truly end-to-end annuity and insurance technology platform,” natively connected to iCapital’s platform. The goal is to build a single operating system that supports the full lifecycle, from discovery and education through order entry and post-sale servicing.

iCapital said the insurance and alternatives markets are increasingly converging. 

“Carriers, asset managers, and distributors are working more closely together to offer alternative strategies through insurance-based structures that help financial advisors focus on core client needs – retirement income, tax efficiency, and long-term diversification. Technology is central to enabling this collaboration at scale, supporting education, sales, compliance, and post-sale servicing across the full lifecycle,” it said. 

Lawrence Calcano, chairman and CEO of iCapital, said: “With Hexure’s software solutions, we will support the insurance ecosystem end-to-end, from front-end innovation through seamless back-end execution. This strategic acquisition expands our reach and deepens our technology capabilities, unlocking new opportunities to better serve our clients and the broader industry as a whole.”

Hexure’s FireLight digital sales platform and ForeSight illustration technology will be integrated into iCapital’s broader platform.

In October last year, media reports said that iCapital was expanding its Singapore and Hong Kong operations.

In September 2025, iCapital said it had made a strategic investment in, and partnered with Tangible Markets, a liquidity solutions provider for private market positions held via wealth management channels.