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.
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Company type | Private |
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Industry | Financial services |
Founded | 2011 |
Founder |
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Headquarters | San Francisco, California, U.S. |
Products | Footnotes / references [2] |
History
editICONIQ 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
editICONIQ 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
editICONIQ 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
edit- Adam D’Angelo - Quora cofounder, ex-Facebook CTO
- Chamath Palihapitiya - Social Capital CEO, ex-Facebook exec
- Chris Cox - Meta chief product officer
- Chris Hughes - Facebook cofounder
- Dustin Moskovitz - Facebook cofounder, Asana cofounder
- Mark Zuckerberg - Facebook founder and Meta CEO
- Naomi Gleit - Meta VP product and social impact
- Sean Parker - Napster cofounder, first Facebook president
- Sheryl Sandberg - Meta COO
Business
edit- Arash Ferdowsi - Dropbox cofounder
- Dan Rosensweig - Chegg CEO
- David Bonderman - TPG cofounder
- Diane Greene - VMware cofounder, ex-Google Cloud CTO
- Drew Houston - Dropbox cofounder
- Eddy Cue - Apple SVP internet software and services
- Henry Kravis - Cofounder of KKR
- Jack Dorsey - Twitter, Square CEO
- James Murdoch - Ex-Fox Corp. CEO
- Jeff Weiner - LinkedIn executive chairman
- Joshua Kushner - Venture capitalist
- Justin Rosenstein - Asana cofounder
- Kevin Hartz - Eventbrite cofounder, chairman
- Kevin Ryan - Gilt Groupe, Business Insider cofounder
- Mark Pincus - Zynga founder
- Mike Krieger - Instagram cofounder
- Ric Elias - Red Ventures CEO
- Ryan Graves - Ex-Uber CEO
- Satya Nadella - Microsoft CEO
- Sean Rad - Tinder cofounder
- Travis VanderZanden - Bird CEO
Entertainment
editVenture capital
editThe firm operates ICONIQ Strategic Partners as an in-house venture capital fund for its clients.
Fund | Vintage Year | Committed Capital ($m) |
---|---|---|
ICONIQ Strategic Partners | 2014 | 495 |
ICONIQ Strategic Partners II | 2015 | 1,151 |
ICONIQ Strategic Partners III | 2017 | 1,117 |
ICONIQ Strategic Partners IV | 2019 | 195 |
ICONIQ Strategic Partners V | 2021 | 2,600 |
ICONIQ Strategic Partners VII | 2024 | 5,750[14] |
Portfolio
edit- ABCmouse.com[15]
- Adyen[16]
- Airbnb
- Alibaba
- Alteryx[17]
- Apttus[18]
- Coupa[19]
- CrowdStrike
- CSL Group Ltd[20]
- Datadog
- Dataiku[21]
- DocuSign
- Epic Games[22]
- ezCater[23]
- Fastly
- Flipkart[24]
- GitLab[25]
- GreenSky[26]
- GoFundMe[27]
- Guild Education[28]
- The Honest Company[29]
- Lucid Software, Inc[citation needed]
- Modern Meadow[30]
- Motorway (brand)[31]
- Netshoes
- The Newbury Boston
- ONE Championship[32]
- Pluralsight
- Procore
- Robinhood[33]
- Snowflake Inc.[34]
- Tencent Music
- Virtru
- WeLab
- Wolt
- Uber[35]
- Zoom
References
edit- ^ "Home". ICONIQ Capital.
- ^ "Form ADV" (PDF). SEC. Retrieved November 24, 2022.
- ^ a b c d e f . RIABiz. Retrieved June 13, 2021.
- ^ a b c d e f g h . Forbes. Retrieved June 13, 2021.
- ^ a b c d e . Wall Street Journal. ISSN 0099-9660. Retrieved June 13, 2021.
- ^ a b c d e Smith, Randall (February 1, 2012). "This Adviser Enjoys Friends in High Places". Wall Street Journal. ISSN 0099-9660. Retrieved June 13, 2021.
- ^ a b c 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.
- ^ "William J. Griffith". Dartmouth Engineering. Retrieved June 13, 2021.
- ^ . www.bloomberg.com. Retrieved June 13, 2021.
- ^ a b . www.bloomberg.com. Retrieved June 13, 2021.
- ^ . Business Insider.
{{cite web}}
: CS1 maint: multiple names: authors list (link) - ^ . Wall Street Journal.
- ^ . Business Insider. Retrieved June 13, 2021.
{{cite web}}
: CS1 maint: multiple names: authors list (link) - ^ . Retrieved July 23, 2024.
- ^ . TechCrunch. May 3, 2016. Retrieved June 13, 2021.
- ^ . TechCrunch. September 30, 2015. Retrieved June 13, 2021.
- ^ . The New York Times. ISSN 0362-4331. Retrieved June 13, 2021.
- ^ Taulli, Tom. "Apttus: A Cloud Giant From Virtually No Money". Forbes. Retrieved June 13, 2021.
- ^ . CB Insights Research. October 14, 2016. Retrieved June 13, 2021.
- ^ Media, Insider. "Trio of investors acquire CSL". Insider Media Ltd. Retrieved June 13, 2021.
- ^ "Dataiku raises $101 million for its collaborative data science platform". TechCrunch. December 19, 2018. Retrieved June 13, 2021.
- ^ Crecente, Brian (October 26, 2018). "Epic Games Gets $1.25 Billion Investment From KKR, Six Others". Variety. Retrieved June 13, 2021.
- ^ "Boston's ezCater raises $100 million to take its corporate catering platform international". VentureBeat. June 19, 2018. Retrieved June 13, 2021.
- ^ . VCCircle. August 24, 2012. Retrieved June 13, 2021.
- ^ "Ukrainian startup GitLab raises $268 million at a valuation of $2.7 billion". AIN.UA. September 18, 2019. Retrieved June 13, 2021.
- ^ 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.
- ^ Schubarth, Cromwell (January 30, 2020). "GoFundMe CEO stepping aside, ad tech startup's CEO stepping in". www.bizjournals.com. Retrieved June 13, 2021.
- ^ FinSMEs (November 13, 2019). "Guild Education Raises $157M in Series D Funding". FinSMEs. Retrieved June 13, 2021.
- ^ "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.
- ^ "Modern Meadow Raises $10 Million in Series A Funding by Staff". Engineering.com. Retrieved June 13, 2021.
- ^ . November 29, 2021.
- ^ "4 men who came to participate in ONE Championship MMA event test positive for COVID-19". CNA. Retrieved June 13, 2021.
- ^ Sen, Anirban (March 23, 2021). "Robinhood, at the heart of retail trading frenzy, files for own IPO". Reuters. Retrieved June 13, 2021.
- ^ . VentureBeat. April 5, 2017. Retrieved June 13, 2021.
- ^ Delevingne, Lawrence (December 5, 2014). "Tiger hedge fund family backs Uber for $100B-plus IPO". CNBC. Retrieved June 13, 2021.