Innocap Investment Management, a leading Dedicated Managed Account (DMA) platform serving institutional investors, announced a strategic growth investment from Bain Capital Tech Opportunities as it surpasses $100 billion in platform assets. The partnership is designed to accelerate Innocap’s next phase of growth and enhance its technology-driven service model that helps institutions structure, access, and monitor alternative investment portfolios.
The transaction, which represents a minority investment, is expected to close in the first quarter of 2026, subject to customary closing conditions and regulatory approvals. Bain Capital will join a group of existing shareholders that includes Innocap senior management, La Caisse, BNY, Walter Global Asset Management, BNP Paribas, and the Abu Dhabi Investment Authority (ADIA).
The new investment follows a period of strong growth for Innocap, whose platform assets have doubled in the past three years. The firm’s proprietary technology and secure infrastructure enable institutional allocators to access and manage their alternative investments efficiently, positioning Innocap as a key player in the rapidly expanding DMA market. With global alternative asset allocations exceeding US$4.8 trillion, DMAs are gaining recognition as a vehicle that provides transparency, governance, and potential alpha advantages compared to traditional fund structures.
Innocap’s platform integrates workflow automation, advanced analytics, and tailored governance capabilities, allowing institutions such as pensions, endowments, and sovereign wealth funds to meet their operational and strategic investment needs. Recent milestones for the company include ADIA’s decision to adopt Innocap’s DMA platform services and its subsequent equity investment in the firm.
La Caisse, a long-term shareholder, reaffirmed its support for Innocap’s growth trajectory and its leadership in alternative investments. The Montréal-based company’s expansion marks a significant milestone for the Canadian financial technology ecosystem, further solidifying its global position as a trusted infrastructure partner for institutional investors.
KEY QUOTES:
“Bain Capital’s investment marks an exciting new chapter for Innocap and for the future of DMAs. Assets on Innocap’s platform have doubled in three years, and this investment will enable us to continue scaling to meet the demands of global allocators, from alternative asset managers and pensions to endowments and sovereign wealth funds. Bain Capital’s partnership will also enable us to pair world-leading AI and fintech expertise as we swiftly advance Innocap’s technology stack to deliver clear wins for clients.”
François Rivard, Chief Executive Officer of Innocap
“The alternative investment ecosystem is at an inflection point, driven by institutional allocators’ growing demand for customized solutions and greater transparency, control, and capital efficiency. Innocap has been at the forefront of this evolution, combining proprietary technology with deep operational expertise to meet the complex needs of its clients. We’re excited to partner with François and the team to build on Innocap’s market leadership and enhance its technology-enabled platform to further empower institutional investors with greater insight and control.”
Michael Grandfield, Managing Director at Bain Capital Tech Opportunities
“Driven by a bold vision for global growth, Innocap continues to lead in alternative investments through its expertise and technological focus. La Caisse is proud to be a longstanding shareholder of this Montréal-based company and remains committed to supporting Innocap’s strategic evolution alongside world-class partners, while continuing to deliver enduring value for our depositors.”
Kim Thomassin, Executive Vice-President and Head of Québec at La Caisse
