iCapital Taps Anthropic’s Claude to Power AI Strategy Across Adviser Platform

iCapital is partnering with Anthropic to embed Claude AI models across its alternative investment platform, with initial deployments aimed at adviser-facing workflows, client enablement tools, and product provider engagement.

The partnership applies Claude’s reasoning capabilities, interpretability, and compliance-aware design to iCapital’s existing infrastructure. Those three areas sit at the core of how alternatives get distributed, documented and serviced, the company said.

“AI’s value isn’t novelty; it’s foundational to improving outcomes across the ecosystem and for those who rely on our platform every day,” said Lawrence Calcano, chairman and chief executive officer of iCapital. “We chose to work with Anthropic because Claude’s capabilities align with the institutional-grade standards required to do that responsibly.”

For the broker-dealer and wealth management community that relies on iCapital’s platform to access private equity, private credit, and other alternative structures, iCapital said its AI will help advisers navigate complexity – from subscription documents and investor qualification workflows to product education and portfolio analytics – with greater speed and precision.

iCapital’s engineering team had already integrated Claude Code into internal development workflows before the broader announcement, using it to accelerate build cycles and platform iteration. That internal experience, the company said, directly informed the decision to expand Anthropic’s models across client-facing applications.

Henrique Francisco, chief technology officer of iCapital, said the firm is focused on architectural flexibility. “Our goal is to apply the best technology to the right use cases as this space continues to evolve, while preserving the flexibility we believe is critical for the future.”

The announcement arrives against a backdrop of widespread but uneven AI adoption across financial services. A McKinsey State of AI 2025 survey found that while nearly 90% of organizations are using AI in some form, fewer than 40% report enterprise-level financial impact – a gap iCapital said it is positioning itself to close through governed, practical deployment rather than broad experimentation.

Last month, iCapital and Envestnet announced an expansion of their strategic partnership, aimed at simplifying how financial advisers integrate alternative and structured investments into client portfolios.

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