ICONIQ Growth led a $169m Series E funding round in Altruist.

ICONIQ Growth, a tech focused investment firm, led a $169m Series E funding round in Altruist, the modern custodian built for RIAs, with participation from Granite Capital Management, Adams Street Partners and Sound Ventures. “With a fully-featured and vertically integrated platform built for RIAs, Altruist is breaking through in an industry desperate for innovation. It's rare to see a new company in the custodian space nail the fundamentals while carving out a substantial customer base in a market dominated by legacy financial institutions. Jason Wenk is a serial entrepreneur who has been pushing the category forward for nearly two decades, and with Altruist, he has built one of the most trusted names with RIAs today,” Yoonkee Sull, ICONIQ Growth General Partner.