Hope you had a great summer! The news in the family office tech world slowed down over the past couple of months—and we tried to do the same. This edition highlights the main developments that did take place over the summer.
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Strategic Capital & M&A
iCapital Raises $820M, Reaches $7.5B Valuation
iCapital has completed an $820 million funding round, co-led by T. Rowe Price and SurgoCap Partners. The raise brings the company’s valuation to over $7.5 billion. iCapital now supports $945 billion in assets across alternatives, structured investments, annuities, and client reporting. The funds will support platform innovation, data infrastructure expansion, and further acquisitions, as iCapital continues its mission to streamline investing in private markets and structured products for advisors, fund managers, and wealth platforms.
Eton Solutions Secures $58M Series C
Eton Solutions has finalized a $58 million Series C round, led by Navis Capital Partners. With rapid international growth and a client base managing over $1 trillion, Eton plans to use the funding to enhance its AtlasFive® platform, accelerate AI development, and expand offerings for private equity and fund administration clients. The platform now supports 130,000 entities and processes more than 14 million transactions annually.
Xero to Acquire Melio in $3B Push into U.S. Market
Xero is making its largest-ever deal, acquiring B2B payments platform Melio for $2.5B in cash plus a $500M earn-out. The move embeds bill pay directly into Xero’s GL, accelerating its U.S. growth and transforming the ledger from recordkeeper to real-time financial operator. Analysts see it as a bid to rival Intuit and AI-native challengers like Digits and Light. Xero will integrate Melio’s payments features into its core platform, aiming to double U.S. revenue by 2028.
Masttro Integrates with Arch for Real-Time Alternatives Data
Masttro has partnered with Arch to integrate real-time alternative investment data into its platform. The collaboration enables Masttro clients to view liquid and illiquid assets in a unified dashboard, supporting deeper portfolio insights and enhanced reporting. Arch’s private markets infrastructure streamlines K-1 collection, capital call tracking, and data visualization, serving family offices and RIAs seeking improved alternatives transparency.
Addepar has welcomed Alpha FMC to its partner program as a services partner. Alpha FMC, a global consultancy to the financial services industry, will support Addepar clients with implementation and operational expertise. This partnership extends Addepar’s delivery capabilities through proven consulting and technology services.
Nitrogen and Indivisible Partners have announced a strategic partnership to deliver a deeply integrated advisor technology platform. By combining Nitrogen’s risk and planning tools with Advyzon’s data and reporting features, the collaboration enhances portfolio personalization and streamlines workflows for financial advisors. This co-developed solution reflects both firms’ commitment to building scalable, advisor-centric tech.
People Moves
Kerry Nagle Joins BlackCloak as COO
BlackCloak has appointed Kerry Nagle as Chief Operating Officer. Nagle, a seasoned operator with experience across cybersecurity, fintech, and B2B SaaS, will oversee operations and support BlackCloak’s rapid expansion in digital executive protection. Her focus includes enhancing cross-functional coordination and maintaining the firm’s white-glove service model for executives and high-net-worth clients.
Erin Harrigan Named CFO at Foundation Source
Foundation Source has promoted Erin Harrigan to Chief Financial Officer. Harrigan has played a key role in the firm’s transformation into a multi-solution philanthropic services provider and will now lead financial planning, risk management, and integration across recent acquisitions including PG Calc, Vennfi, Giving Place, and Pacific Foundation Services.
Megan Greer Appointed President of Fund Administration at Archway
Archway has named Megan Greer as its first President of Fund Administration. Greer brings over two decades of experience from Carta and Northern Trust and will oversee expansion of Archway’s institutional-grade fund services for family offices and private investment entities.
John Molesphini Joins Asora as CRO
Asora has appointed John Molesphini as Chief Revenue Officer. Molesphini, formerly of Nasdaq eVestment, brings extensive experience in investment data solutions and will lead Asora’s go-to-market and client engagement strategies as the firm scales its SaaS offering for single and multi-family offices.
Clark Richards Joins Advyzon as VP of Client Success
Advyzon has appointed Clark Richards as Vice President of Client Success. Richards, formerly with Envestnet and Juniper Square, will oversee client-facing teams including support, onboarding, and relationship management as the firm continues to scale its RIA software platform.
George Guidotti joins ARQA as Director of Enterprise Solutions
ARQA has appointed George Guidotti to lead its enterprise strategy, marking a key leadership hire as the firm continues to scale its AI-native infrastructure. With over two decades of experience in wealth management technology, George brings deep expertise in building CRM platforms and enterprise solutions for RIAs, custodians, and aggregators. He’ll work closely with product, implementation, and customer teams to support adoption across the industry’s largest firms.
Asseta AI has appointed Nathan K. as Head of Investments
Nathan joins from GenTrust, a $4.5B multi-family office, where he was Head of Trading. He previously worked at Bridgewater Associates and BNY, bringing deep investment and trading expertise. In his new role, Nathan will lead Asseta’s Investments solutions, helping family offices protect and grow their wealth for generations.
Dennis Mangalindan Joins Canoe as Senior Director
Dennis Mangalindan has joined Canoe Intelligence as Senior Director of Family Office Strategy & Accounting Sales. He brings extensive experience working with family offices and technology providers, and will focus on supporting Canoe’s growth and alignment with the accounting and reporting needs of the family office community.