iAltA Buys Delio, Forging a Private Markets Infrastructure Powerhouse

NEW YORK, NY – February 26, 2026 – iAltA Holdings, the private markets infrastructure company backed by WestCap, today announced its acquisition of Delio, a leading global provider of white-label operating systems for alternative investments. The move marks iAltA's fourth major acquisition since its launch in 2025 and signals an aggressive strategy to build a comprehensive, unified digital ecosystem for the burgeoning private markets sector.

The acquisition integrates Delio's sophisticated, low-code technology into iAltA's expanding suite of solutions, aiming to solve long-standing operational challenges that have plagued the rapidly growing alternative investment space. For an industry projected to manage over $24.5 trillion in assets by 2028, the technological infrastructure has notoriously failed to keep pace, creating significant friction for asset managers, distributors, and investors alike.

A Strategic Consolidation Play

This acquisition is the latest and arguably one of the most significant moves in iAltA’s calculated M&A strategy. Launched with an initial $20 million in funding led by WestCap, iAltA was founded by a team of industry veterans—including Scott Ganeles, Bill Sherman, Bill Crager, and Laurence Tosi—with a track record of modernizing financial markets through companies like Ipreo and iLEVEL.

Their mission is to build a cohesive digital operating layer for private markets by acquiring and integrating key technology providers. The Delio purchase follows a rapid series of transactions. In 2025, iAltA acquired Verivend, a payments and investor portal technology provider, and Betterfront, a fundraising and analytics platform for private equity managers. These two formed the foundation of the iAltA Private Markets platform.

Earlier this year, the company’s Wealth vertical acquired BridgeFT, a cloud-native, API-first wealth infrastructure company. That move bolstered iAltA's data aggregation and connectivity capabilities, creating a crucial link between the worlds of traditional wealth management and private assets. The addition of Delio now provides the core operating system that enables financial institutions to manage the entire client lifecycle for alternative investments.

“We founded iAltA because we saw a tremendous market need to solve systemic issues within the private market landscape for general partners and distributors,” said Scott Ganeles, Chief Executive Officer and Founding Partner of iAltA. “Delio has emerged as a digital infrastructure provider of choice for financial institutions seeking to integrate alternatives into their offerings while maintaining control over client experience.”

Digitizing a Fragmented Market

The explosive growth in private markets has exposed deep-seated inefficiencies. The landscape is characterized by fragmented point solutions, a heavy reliance on manual processes for tasks like capital calls and reporting, and a general lack of transparency. This creates a disjointed and often frustrating experience for both Limited Partners (LPs) and General Partners (GPs).

Delio was built to address this very problem. Its flagship product, Delio Core OS, provides a configurable, white-label operating system that allows asset managers, wealth firms, and other distributors to digitize their private market offerings. By using low-code tools and modular workflows, financial institutions can create a seamless, branded digital experience for their clients across the entire investment journey—from onboarding and compliance to transaction processing and reporting.

Trusted by more than 50 global financial institutions across 18 regulatory jurisdictions, Delio's infrastructure already supports over 12,000 end clients and facilitates the distribution of hundreds of funds and deals. This established footprint makes it a powerful addition to the iAltA ecosystem.

“Private markets have seen tremendous growth over the past few years, but the infrastructure has not kept up the demand for access and offerings,” said Gareth Lewis, Founder and Co-Chief Executive Officer of Delio. “iAltA is our ideal partner since both our organizations were founded on the principle that the markets need more seamless and effective solutions to meet the challenges of demand. This partnership will increase both our reach and our impact.”

The Founders' Blueprint for a Unified Ecosystem

The strategic vision behind iAltA's acquisition spree is rooted in its founders' deep experience and its unique holding company structure. Rather than forcing disparate technologies into a single, monolithic platform, iAltA allows its subsidiaries to operate independently while contributing to a larger, cross-functional strategy and unified digital ecosystem.

This blueprint appears designed to construct an end-to-end solution that services the entire private market value chain. With Verivend and Betterfront, iAltA addressed the needs of GPs in fundraising and managing capital. With BridgeFT, it built a data pipeline to connect with the broader wealth management world. Now, with Delio, it has secured a core operating system that empowers the distributors—the banks and wealth firms that sit between the product manufacturers and the end investors.

This integrated approach aims to eliminate the need for firms to stitch together multiple, often incompatible, software solutions. The goal is to create a single, connected system for managing the fund lifecycle, engaging with investors, streamlining operations, and making data-driven decisions. This vision is actively supported by its incubator and backer, WestCap, which not only provides capital but also serves as a key design and development partner, leveraging the iAltA platform for its own transactions.

Implications for the Future of Alternative Investing

The combination of iAltA and Delio reflects a powerful trend toward consolidation and integration within financial technology. For years, the private markets have been a frontier of bespoke processes and siloed data. This acquisition is a clear bet that the future lies in integrated, scalable platforms that can bring efficiency, transparency, and accessibility to this complex asset class.

By providing the digital rails for private market distribution, the combined entity is positioned to accelerate the democratization of alternative investments. As platforms make it easier and more cost-effective for wealth managers to offer private equity, venture capital, and private credit to their clients, these assets are expected to become a more standard component of diversified portfolios beyond just institutional and ultra-high-net-worth investors.

The challenge for iAltA will be to seamlessly integrate these powerful but distinct technologies into a cohesive user experience that delivers on the promise of a unified ecosystem. The successful integration of these diverse platforms will be a critical test, but for an industry grappling with rapid growth and legacy systems, the push towards a unified digital future is a development that market participants will be watching closely.