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
ICONIQ Strategic Partners VII20245,750 [14]

Portfolio

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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. ↑ "Announcing our Seventh Flagship Fund" . Retrieved July 23, 2024.
  15. ↑ "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.
  16. ↑ "Adyen Adds New Funding From Iconiq, Values Dutch Payment Group At $2.3B". TechCrunch. September 30, 2015. Retrieved June 13, 2021.
  17. ↑ Picker, Leslie (October 28, 2015). "Iconiq Capital Leads $85 Million Investment in Alteryx". The New York Times. ISSN   0362-4331 . Retrieved June 13, 2021.
  18. ↑ Taulli, Tom. "Apttus: A Cloud Giant From Virtually No Money". Forbes. Retrieved June 13, 2021.
  19. ↑ "Iconiq Capital Teardown: This Influential Investor Is Doing Well". CB Insights Research. October 14, 2016. Retrieved June 13, 2021.
  20. ↑ Media, Insider. "Trio of investors acquire CSL". Insider Media Ltd. Retrieved June 13, 2021.
  21. ↑ "Dataiku raises $101 million for its collaborative data science platform". TechCrunch. December 19, 2018. Retrieved June 13, 2021.
  22. ↑ Crecente, Brian (October 26, 2018). "Epic Games Gets $1.25 Billion Investment From KKR, Six Others". Variety. Retrieved June 13, 2021.
  23. ↑ "Boston's ezCater raises $100 million to take its corporate catering platform international". VentureBeat. June 19, 2018. Retrieved June 13, 2021.
  24. ↑ "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.
  25. ↑ "Ukrainian startup GitLab raises $268 million at a valuation of $2.7 billion". AIN.UA. September 18, 2019. Retrieved June 13, 2021.
  26. ↑ 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.
  27. ↑ Schubarth, Cromwell (January 30, 2020). "GoFundMe CEO stepping aside, ad tech startup's CEO stepping in". www.bizjournals.com. Retrieved June 13, 2021.
  28. ↑ FinSMEs (November 13, 2019). "Guild Education Raises $157M in Series D Funding". FinSMEs. Retrieved June 13, 2021.
  29. ↑ "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.
  30. ↑ "Modern Meadow Raises $10 Million in Series A Funding by Staff". Engineering.com. Retrieved June 13, 2021.
  31. ↑ "Secondhand car auction platform Motorway hits unicorn status after $190M raise with Index, ICONIQ". November 29, 2021.
  32. ↑ "4 men who came to participate in ONE Championship MMA event test positive for COVID-19". CNA. Retrieved June 13, 2021.
  33. ↑ Sen, Anirban (March 23, 2021). "Robinhood, at the heart of retail trading frenzy, files for own IPO". Reuters. Retrieved June 13, 2021.
  34. ↑ "Cloud data warehouse startup Snowflake raises $100 million led by Iconiq". VentureBeat. April 5, 2017. Retrieved June 13, 2021.
  35. ↑ Delevingne, Lawrence (December 5, 2014). "Tiger hedge fund family backs Uber for $100B-plus IPO". CNBC. Retrieved June 13, 2021.
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