ICONIQ Capital

Last updated

ICONIQ Capital, LLC
Company type Private
Industry Financial services
Founded2011;13 years ago (2011)
Founder
  • Divesh Makan
  • Michael Anders
  • Chad Boeding
  • Will Griffith
Headquarters San Francisco, California, U.S.
Products
  • financial advisory
  • private equity
  • venture capital
  • real estate
  • philanthropy
AUM US$80 billion (2022) [1]
Divisions ICONIQ Strategic Partners
ICONIQ Growth
ICONIQ Impact
Website iconiqcapital.com
Footnotes /references
[2]

ICONIQ Capital is an American investment management firm headquartered in San Francisco, California. [3] [4] It functions as a hybrid family office providing specialized financial advisory, private equity, venture capital, real estate, and philanthropic services to its clientele. [5] ICONIQ Capital primarily serves ultra-high-net-worth clients working in technology, high finance, and entertainment. The firm operates in-house venture capital, growth equity, and charitable giving funds for its clients.

Contents

History

ICONIQ Capital was founded in December 2011 in San Francisco, California by Divesh Makan, Michael Anders and Chad Boeding. [4] [3] [6] The trio previously worked as wealth advisors at Goldman Sachs and Morgan Stanley. [4] [3] During the early 2000s, Makan established relationships with key members of social media start-up Facebook, which later developed into technology conglomerate Meta. [5] One of his first clients was the co-founder of Facebook, Mark Zuckerberg, who introduced Makan to Sheryl Sandberg and Dustin Moskovitz. [4] [6] During his time at both Goldman Sachs and Morgan Stanley, Makan's team had disagreements with the firms' senior leadership over their business practices. [4] [3] [6] In late 2011 they left Morgan Stanley to set up ICONIQ Capital to serve as independent wealth advisors to their clients with more autonomy. [4] [3] [6] ICONIQ's launch coincided with the initial public offering of Facebook in May 2012, which was overseen by Morgan Stanley. [4] [3] [6] That year they brought on Will Griffith (a general partner at TCV), to lead their in-house venture arm, ICONIQ Strategic Partners. [7] [8] In 2018, Boeding spun out of ICONIQ to form his own wealth advisory firm, Epiq Capital. [9] In 2020, asset manager Blue Owl Capital acquired a 6% stake in ICONIQ. [10]

Operations

ICONIQ functions as a hybrid family office for ultra-high-net-worth clients. [7] Their client base primarily derives wealth from the technology, high finance, and entertainment industries. [11] Their investment platform has evolved to include private equity, venture capital, growth equity, and real estate. [5] [12] In addition to retail clients, the firm covers institutional clients, as well, such as the Canadian pension fund, CPP Investment Board. [10] Their hybrid structure was designed to reduce conflict-of-interest between its financial advisory businesses and investment platform. [5] At the clients' discretion, pooled capital may be deployed to ICONIQ's private investment vehicles. [5]

Clientele

ICONIQ does not disclose its clientele and is known for being secretive within the investment management industry. [7] Select clients that have affiliated themselves with ICONIQ include: [4] [13]

Meta

Business

Entertainment

Venture capital

The firm operates ICONIQ Strategic Partners as an in-house venture capital fund for its clients.

FundVintage YearCommitted Capital ($m)
ICONIQ Strategic Partners2014495
ICONIQ Strategic Partners II20151,151
ICONIQ Strategic Partners III20171,117
ICONIQ Strategic Partners IV2019195
ICONIQ Strategic Partners V20212,600

Portfolio

Related Research Articles

Kleiner Perkins, formerly Kleiner Perkins Caufield & Byers (KPCB), is an American venture capital firm which specializes in investing in incubation, early stage and growth companies. Since its founding in 1972, the firm has backed entrepreneurs in over 900 ventures, including America Online, Amazon.com, Tandem Computers, Compaq, Electronic Arts, JD.com, Square, Genentech, Google, Netscape, Sun Microsystems, Nest, Palo Alto Networks, Synack, Snap, AppDynamics, and Twitter. By 2019 it had raised around $9 billion in 19 venture capital funds and four growth funds.

<span class="mw-page-title-main">Marc Andreessen</span> American entrepreneur, investor, and software engineer (born 1971)

Marc Lowell Andreessen is an American businessman and software engineer. He is the co-author of Mosaic, the first widely used web browser with a graphical user interface; co-founder of Netscape; and co-founder and general partner of Silicon Valley venture capital firm Andreessen Horowitz. He co-founded and later sold the software company Opsware to Hewlett-Packard. Andreessen is also a co-founder of Ning, a company that provides a platform for social networking websites and an inductee in the World Wide Web Hall of Fame. Andreessen's net-worth is estimated at $1.7 billion.

Sequoia Capital is an American venture capital firm headquartered in Menlo Park, California which specializes in seed stage, early stage, and growth stage investments in private companies across technology sectors. As of 2022, the firm had approximately US$85 billion in assets under management.

Founders Fund is a San Francisco based venture capital firm formed in 2005 and has roughly $12 billion in total assets under management as of 2023. Founders Fund was the first institutional investor in Space Exploration Technologies (SpaceX) and Palantir Technologies, and early investor in Facebook. The firm's partners have been founders, early employees and investors at companies including PayPal, Palantir Technologies, Anduril Industries and SpaceX.

<span class="mw-page-title-main">Index Ventures</span> European worldwide venture capital firm

Index Ventures is a European venture capital firm with dual headquarters in San Francisco and London, investing in technology-enabled companies with a focus on e-commerce, fintech, mobility, gaming, infrastructure/AI, and security. Since its founding in 1996, the firm has invested in a number of companies and raised approximately $5.6 billion. Index Venture partners appear frequently on Forbes’ Midas List of the top tech investors in Europe and Israel.

<span class="mw-page-title-main">Accel (company)</span> Venture capital firm

Accel, formerly known as Accel Partners, is an American venture capital firm. Accel works with startups in seed, early and growth-stage investments. The company has offices in Palo Alto, California and San Francisco, California, with additional operating funds in London, India and China.

<span class="mw-page-title-main">Bill Gurley</span> American businessman

John William Gurley is an American businessman. He is a general partner at Benchmark, a Silicon Valley venture capital firm in San Francisco, California. He is listed consistently on the Forbes Midas List and is considered one of the top dealmakers in the American technology industry.

Lightspeed Venture Partners is an American venture capital firm focusing on early-stage investments in the enterprise, consumer, and health sectors. Lightspeed has ten offices globally.

<span class="mw-page-title-main">Jim Breyer</span> American venture capitalist (born 1961)

James W. Breyer is an American venture capitalist, founder and chief executive officer of Breyer Capital, an investment and venture philanthropy firm, and a former managing partner at Accel Partners, a venture capital firm. Breyer has invested in over 40 companies that have gone public or completed a merger, with some of these investments, including Facebook, earning over 100 times cost and many others over 25 times cost. On the Forbes 2021 list of the 400 richest Americans, he was ranked #389, with a net worth of US$2.9 billion.

<span class="mw-page-title-main">Chamath Palihapitiya</span> Sri Lankan-born businessman

Chamath Palihapitiya is a Sri Lankan-born Canadian and American venture capitalist, engineer, SPAC sponsor, founder and CEO of Social Capital. Palihapitiya was an early senior executive at Facebook, working at the company from 2007 to 2011. Following his departure from Facebook, Palihapitiya started The Social+Capital Partnership, through which he invested in several companies, including Yammer and Slack. He is a co-host of a technology podcast, All In, along with David Sacks, Jason Calacanis, and David Friedberg.

<span class="mw-page-title-main">Wealthfront</span> Automated investment service firm

Wealthfront Inc. is an automated investment service firm based in Palo Alto, California, founded by Andy Rachleff and Dan Carroll in 2008. As of November 2023, Wealthfront had $50 billion AUM across 700,000 accounts.

<span class="mw-page-title-main">Lev Binzumovich Leviev</span> Israeli-Russian entrepreneur and investor

Lev Binzumovich Leviev is an Israeli-Russian entrepreneur and investor, founder of international venture capital firm LVL1, co-founder of Russia's largest social network VK.com and the Selectel data center network.

Social Capital, formerly known as Social+Capital Partnership, is a venture capital firm based in Palo Alto, California. The firm specializes in technology startups, providing seed funding, venture capital, and private equity.

Vertex Venture Holdings, also known as Vertex Holdings, is an investment holding company with a group of venture capital funds worldwide. A subsidiary of Temasek Holdings, the company focuses on venture capital investment opportunities in the information technology and healthcare markets through its global family of six direct investment venture funds. Vertex provides anchor funding and operational support to these funds. Each fund has its own General Partners and investment teams, focusing on different regional markets. Its six funds are based across Southeast Asia and India, United States of America, China and Israel.

Aditya Agarwal is a software engineer and customer executive. Agarwal was an early engineer at Facebook where he wrote the Facebook Search Engine. He was also Facebook's first Director of Product Engineering. He started Cove, a modern collaboration software company. Agarwal is also on the board of Flipkart.

<span class="mw-page-title-main">SoftBank Vision Fund</span> Venture capital fund

The SoftBank Vision Fund is a venture capital fund founded in 2017. It is managed by SoftBank Investment Advisers, a subsidiary of the SoftBank Group. With over $100 billion in capital, it is the world's largest technology-focused investment fund. In 2019, SoftBank Vision Fund 2 was founded. The total fair value of both funds as of 31 March 2021 was $154 billion.

Altimeter Capital is an American investment firm based in Boston, Massachusetts and Menlo Park, California. The firm focuses on technology investments in both public and private markets globally.

<span class="mw-page-title-main">Blue Owl Capital</span> American alternative asset management firm

Blue Owl Capital Inc. is an American alternative investment asset management company. It is currently listed on the New York Stock Exchange under the ticker symbol: "OWL".

<span class="mw-page-title-main">Thrive Capital</span> American venture capital firm

Thrive Capital is an American venture capital firm based in New York City. It focuses on software and internet investments. The firm was founded by Joshua Kushner who is also co-founder of Oscar Health and minority owner of the Memphis Grizzlies.

General Catalyst is a U.S.-based venture capital (VC) firm that makes early stage and growth investments. The firm has invested in global companies, including Airbnb, Kayak, Datalogix, Datto, Livongo, Gusto, Buildkite, Warby Parker, Oscar, Deliveroo, Lemonade, Stripe, and Snap.

References

  1. ↑ "Home". ICONIQ Capital.
  2. ↑ "Form ADV" (PDF). SEC. Retrieved November 24, 2022.
  3. 1 2 3 4 5 6 "How the Facebook IPO is creating the mother of all RIAs, Iconiq, and what an in-your-face it is for Wall Street". RIABiz. Retrieved June 13, 2021.
  4. 1 2 3 4 5 6 7 8 Solomon, Brian. "The Spider Of Silicon Valley: Inside 'Zuck & Friends' Secret Billionaire Fund". Forbes. Retrieved June 13, 2021.
  5. 1 2 3 4 5 Putzier, Konrad (August 6, 2019). "Wealth Manager Iconiq, Known for Silicon Valley Ties, Widens Real-Estate Holdings". Wall Street Journal. ISSN   0099-9660 . Retrieved June 13, 2021.
  6. 1 2 3 4 5 Smith, Randall (February 1, 2012). "This Adviser Enjoys Friends in High Places". Wall Street Journal. ISSN   0099-9660 . Retrieved June 13, 2021.
  7. 1 2 3 Das, Juliet Chung and Anupreeta (November 21, 2017). "Zuckerberg's Wealth Manager Wants to Be a Buyout Shop". Wall Street Journal. ISSN   0099-9660 . Retrieved June 13, 2021.
  8. ↑ "William J. Griffith". Dartmouth Engineering. Retrieved June 13, 2021.
  9. ↑ Foxman, Simone (May 15, 2018). "Iconiq Co-Founder Starts Rival Wealth Firm, Swipes at Conflicts". www.bloomberg.com. Retrieved June 13, 2021.
  10. 1 2 Stupples, Benjamin (February 15, 2021). "Wealth Firm for Silicon Valley Billionaires Sets Up in London". www.bloomberg.com. Retrieved June 13, 2021.
  11. ↑ Morris, Rob Price, Meghan. "Inside Iconiq: How Mark Zuckerberg's banker built a secret Silicon Valley empire and made billions". Business Insider.{{cite web}}: CS1 maint: multiple names: authors list (link)
  12. ↑ Cumming, Chris (April 27, 2021). "Iconiq Targets $3.75 Billion for Sixth Growth Fund". Wall Street Journal.
  13. ↑ Su, Meghan Morris, Rob Price, Joanna Lin. "Here are dozens of the tech titans and Hollywood celebrities who are Iconiq Capital clients — and 10 ultra-wealthy moguls who quietly bailed". Business Insider. Retrieved June 13, 2021.{{cite web}}: CS1 maint: multiple names: authors list (link)
  14. ↑ "Age of Learning, a quiet giant in education apps, raised $150M at a $1B valuation from Iconiq". TechCrunch. May 3, 2016. Retrieved June 13, 2021.
  15. ↑ "Adyen Adds New Funding From Iconiq, Values Dutch Payment Group At $2.3B". TechCrunch. September 30, 2015. Retrieved June 13, 2021.
  16. ↑ Picker, Leslie (October 28, 2015). "Iconiq Capital Leads $85 Million Investment in Alteryx". The New York Times. ISSN   0362-4331 . Retrieved June 13, 2021.
  17. ↑ Taulli, Tom. "Apttus: A Cloud Giant From Virtually No Money". Forbes. Retrieved June 13, 2021.
  18. ↑ "Iconiq Capital Teardown: This Influential Investor Is Doing Well". CB Insights Research. October 14, 2016. Retrieved June 13, 2021.
  19. ↑ Media, Insider. "Trio of investors acquire CSL". Insider Media Ltd. Retrieved June 13, 2021.
  20. ↑ "Dataiku raises $101 million for its collaborative data science platform". TechCrunch. December 19, 2018. Retrieved June 13, 2021.
  21. ↑ Crecente, Brian (October 26, 2018). "Epic Games Gets $1.25 Billion Investment From KKR, Six Others". Variety. Retrieved June 13, 2021.
  22. ↑ "Boston's ezCater raises $100 million to take its corporate catering platform international". VentureBeat. June 19, 2018. Retrieved June 13, 2021.
  23. ↑ "Flipkart raises Series D round of funding from Naspers' arm MIH, ICONIQ Capital, Tiger Global and Accel Partners". VCCircle. August 24, 2012. Retrieved June 13, 2021.
  24. ↑ "Ukrainian startup GitLab raises $268 million at a valuation of $2.7 billion". AIN.UA. September 18, 2019. Retrieved June 13, 2021.
  25. ↑ Demos, Telis (September 12, 2016). "GreenSky Scores $3.6 Billion Valuation From Fifth Third Bancorp". Wall Street Journal. ISSN   0099-9660 . Retrieved June 13, 2021.
  26. ↑ Schubarth, Cromwell (January 30, 2020). "GoFundMe CEO stepping aside, ad tech startup's CEO stepping in". www.bizjournals.com. Retrieved June 13, 2021.
  27. ↑ FinSMEs (November 13, 2019). "Guild Education Raises $157M in Series D Funding". FinSMEs. Retrieved June 13, 2021.
  28. ↑ "Jessica Alba's The Honest Company Valued at Nearly $1 Billion Two Years After Its Launch". E! Online. August 27, 2014. Retrieved June 13, 2021.
  29. ↑ "Modern Meadow Raises $10 Million in Series A Funding by Staff". Engineering.com. Retrieved June 13, 2021.
  30. ↑ "Secondhand car auction platform Motorway hits unicorn status after $190M raise with Index, ICONIQ". November 29, 2021.
  31. ↑ "4 men who came to participate in ONE Championship MMA event test positive for COVID-19". CNA. Retrieved June 13, 2021.
  32. ↑ Sen, Anirban (March 23, 2021). "Robinhood, at the heart of retail trading frenzy, files for own IPO". Reuters. Retrieved June 13, 2021.
  33. ↑ "Cloud data warehouse startup Snowflake raises $100 million led by Iconiq". VentureBeat. April 5, 2017. Retrieved June 13, 2021.
  34. ↑ Delevingne, Lawrence (December 5, 2014). "Tiger hedge fund family backs Uber for $100B-plus IPO". CNBC. Retrieved June 13, 2021.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.