Hedge Fund Investor Buys Stake in Data Wealth Management Company Addepar
Posted on 06/15/2021
Addepar, Inc. is a Mountain View, California-based wealth management company founded in 2009. Addepar raised US$ 150 million from D1 Capital Partners at a pre-money valuation of US$ 2 billion as part of its Series F financing. The funding will be used to further accelerate the company’s rapid growth, fueling expansion of the business and workforce into new geographies and driving continued development of Addepar’s category defining platform.
Addepar was founded by Joe Lonsdale in 2009. Addepar has amassed more than US$ 2.7 trillion in client assets on its platform, and serves over 600 family offices, registered investment advisors, private banks, and large financial institutions across more than 25 countries.
The Series E round of US$ 117 million was led by WestCap Group.
Valor Equity Partners
In January 2021, Addepar acquired Real Capital Innovation (RCI). In April 2021, David Obrand was named firm president. Obrand is a former Partner at growth private equity firm Valor Equity Partners. Obrand reports to firm CEO Eric Poirier. Valor Equity Partners bought into Addepar in June 2017 as a co-lead investor in the US$ 140 million Series D funding round. Obrand joined Addepar’s board of directors several months later, in 2018. In addition, Valor Equity Partners led Addepar’s firm’s US$ 50 million 2014 Series C raise. Valor Equity Partners did not participate in the Series E and Series F rounds.