GeoWealth, a proprietary technology and turnkey asset management platform (TAMP), has closed a $18 million growth investment led by BlackRock.
GeoWealth will use the funding to support the continued development of offerings that enable advisers to meet client demand for access to an increasingly broad range of asset types in a unified account. Kayne Anderson Growth Capital, the dedicated growth capital strategy of Kayne Anderson, which led GeoWealth’s Series B funding in 2021, participated in the round, as did J.P. Morgan Asset Management, a strategic investor in GeoWealth since 2018.
The capital will be used to facilitate new growth initiatives led by Brendan Falls, executive vice president, chief growth officer, and new product initiatives led by Cliff Schoeman, executive vice president, chief product officer. Planned product enhancements include the continued development of unified managed account (UMA) capabilities and functionalities that support alternative inv