Intermediate-mass black holes (IMBHs) occupy the
$10^2$–
$10^5\,M_\odot$ range, but their existence remains poorly constrained. Only a few candidates have been suggested in dwarf galaxies, globular clusters, and LIGO-Virgo-Kagra detections. To investigate their formation and demographics, we adopt two complementary approaches. We first analyze the dragonii direct N-body simulations, which follow clusters with up to
$10^6$ stars, capture IMBHs growth. We then employ the semi-analytic code bpop, calibrated on dragonii, to explore a broad range of cluster and cosmological conditions.
Our models reproduce merger rates consistent with GWTC-3, with
$\sim30$–60% of BBHs forming dynamically, mainly in globular and nuclear clusters. About 2–3% of mergers involve an IMBH, producing intermediate-mass ratio inspirals. The IMBH mass distribution spans
$2.5\times10^2$–
$4\times10^4\,M_\odot$, with rare growth beyond
$10^6\,M_\odot$. Formation efficiency rises with initial binary fraction but declines in metal-rich environments. IMBHs thus emerge as a distinct population bridging stellar and supermassive black holes.