IGM Financial invests $50 mln in Personal Capital
IGM Financial Inc, part of the Power Financial Corp Group of companies, has invested $50 million in Personal Capital as part of a Series E funding round. IGM has agreed to invest another $25 million next year. IGM will initially have 10 percent of Personal Capital, which will rise to 15 percent within 12 months. The Series E funding values Personal Capital at about $500 million. With offices in San Francisco and Redwood City, California, and Denver, Personal Capital offers an online wealth management platform, including apps, for clients to manage their money. Moelis & Co advised IGM while Evercore provided financial advice to Personal Capital. News of the fundraising was reported by Buyouts Insider in December.
19 May 2016•1 min read
