CAIS, an alternative investment platform serving independent financial advisers, has closed a $170m Series D funding round that values the business at more than $2bn.
The round was led by Vista Equity Partners, with further backing from AllianceBernstein L.P., funds managed by Blue Owl Capital, Carlyle, Fortress Investment Group, Golub Capital, Lord Abbett, and Royal Bank of Canada. The raise takes the company’s total funding to nearly $600m and arrives as the firm reports a three-year organic revenue CAGR of 37%.
As part of the deal, Vista Equity Partners president David Breach will take a seat on the CAIS board of directors, while representatives from Blue Owl, Lord Abbett, Fortress, and Carlyle will act as board observers.
FT Partners acted as exclusive financial adviser on the transaction, with Sidley Austin LLP providing legal counsel.
The new capital is earmarked to power the firm’s next stage of expansion, allowing it to broaden its platform, grow its technology and AI capabilities, pursue strategic opportunities, and keep building tools that help advisers serve clients more effectively.
Founded in 2009 and headquartered in New York, CAIS provides financial advisers and alternative asset managers with a single operating system covering the pre-trade, trade, and post-trade lifecycle of alternative investments. Its platform is used by more than 2,500 wealth management firms, supporting over 65,000 financial advisers who look after roughly $8.5trn in end-client assets.
The company has posted strong recent momentum, with transaction volume rising 53% year-over-year in the first half of 2026 and total platform assets climbing 55% over the same stretch. Since 2025, more than 425 new RIAs and independent broker dealers, representing over $1.8trn in assets, have joined the platform. Meanwhile, the firm’s adviser Net Promoter Score hit a record 74, more than twice the B2B SaaS benchmark of 36, it said.
The latest round follows a $50m Series B from Eldridge in 2020 and a $340m Series C in 2022 led by Apollo and Motive Partners, with participation from Franklin Templeton, Reverence Capital Partners, and Hamilton Lane.
CAIS founder and CEO Matt Brown said, “When strategic investors of this caliber back CAIS, it reflects their conviction in both the market opportunity and category leadership. Together with the independent wealth community, we have built the platform technology and client service model this industry deserves, and our biggest chapter is still ahead.”
Vista Equity Partners president David Breach said, “CAIS has built a trusted technology platform that is transforming how independent advisors access, evaluate, and manage alternative investments. By embedding AI and agentic capabilities into the advisor workflow, CAIS is creating a more intelligent, connected, and scalable experience. I look forward to joining the Board and working with Matt and the team on their next phase of growth.”
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