Chicago’s GeoWealth Extends Series C With $42.5 Million Strategic Investment

Chicago-based fintech firm GeoWealth announced last week it had expanded its Series C financing with a $42.5 million minority investment from Goldman Sachs Asset Management (GSAM), in a deal the company says will fund additional growth and provide liquidity to shareholders.

Goldman Sachs joins a group of institutional minority investors that already includes Apollo, BlackRock and J.P. Morgan Asset Management. GeoWealth’s family office owner, The Globe Resources Group, remains the majority shareholder. 

GeoWealth operates a turnkey asset management platform (TAMP) and technology stack for registered investment advisors (RIAs), offering unified managed accounts (UMAs) that combine multiple investment vehicles and provide tax management and access to private-market strategies. The company has said demand from large enterprise RIAs, uptake of custom model portfolio partnerships, and deeper relationships with existing RIA partners have driven its recent growth. Bryon Lake, partner and global co-head of third-party wealth at GSAM, will join GeoWealth’s board as part of the transaction. 

GeoWealth and GSAM began working together in October 2024 on an initiative to let advisors build open-architecture custom models that blend public and private investments. “We’ve been very intentional about maintaining the right balance of investors … while also partnering with some of the world’s largest institutions that help us think strategically, grow thoughtfully and continue to innovate for our RIA partners,” Chief Executive Officer of GeoWealth, Colin Falls said in the announcement.

The company, founded in 2010 and headquartered in Chicago, serves RIAs nationwide by outsourcing mid- and back-office functions such as performance reporting, billing and portfolio accounting.

Investment platforms that provide portfolio construction, reporting and private-market access to independent advisors have attracted growing interest from large asset managers in recent years, as firms seek distribution channels to reach high-net-worth clients outside wirehouse channels. For large asset managers, minority investments in TAMPs and fintech platforms can offer closer ties to advisory firms and a route to scale multi-asset and private-market strategies.

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