Parallel Markets

iCapital acquired Parallel Markets in 2025 to embed its compliance infrastructure across the parent platform. The acquisition gave iCapital an in-house capability for KYC/AML, KYB onboarding, and 506(c) accreditation verification — all critical workflow steps for alternative investment platforms that serve wealth advisors and their accredited investors (per iCapital, 2025).

The iCapital Investor Passport is a portable digital identity that allows accredited investors to onboard once and reuse their verified identity across participating platforms. It draws on the compliance verification technology Parallel Markets provides, reducing duplicated document collection and KYC checks when investors move between alternative investment opportunities.

Yes. One of its core services is 506(c) Accreditation Services, which verifies that investors meet SEC requirements for general-solicitation offerings. This involves collecting and reviewing investor documentation — tax returns, brokerage statements, or third-party verification letters — to confirm accredited-investor status under the rule.

Parallel Markets operates as the compliance utility inside iCapital's end-to-end platform, handling identity verification, anti-money-laundering checks, and investor accreditation. Rather than selling software to external banks and funds as an independent vendor, it now powers the onboarding that iCapital's wealth-manager and asset-manager clients use to access alternative investments, structured products, and annuities.

Following the 2025 acquisition, its coverage mirrors iCapital's global headquarters network, which spans New York, Zurich, London, Lisbon, Hong Kong, Singapore, Tokyo, and Sydney, along with multiple US offices including Princeton, Greenwich, and Salt Lake City (per iCapital, 2025). This footprint supports cross-border investor verification and compliance with local KYC/AML requirements.