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Iconiq Capital

American investment management firm based in San Francisco From Wikipedia, the free encyclopedia

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ICONIQ Capital, LLC (Iconiq) 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 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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History

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Iconiq was founded in December 2011 in San Francisco, California by Divesh Makan, Michael Anders and Chad Boeding.[4][3][6][7]

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 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]

In 2013, the firm launched Iconiq Growth to act as its growth capital arm after receiving encouragement from Dave Goldberg. It brought on Will Griffith (a general partner at TCV), to lead it.[7]

In 2018, Boeding spun out of Iconiq to form his own wealth advisory firm, Epiq Capital.[8]

In 2019, the firm launched Iconiq Impact which was its charity platform. It acted as a separate philanthropic arm to give away capital earned through the family office. [9]

In 2020, Blue Owl Capital acquired a 6% stake in Iconiq.[10]

In September 2024, it was reported that Iconiq was looking new ways to cash in on startups amid the IPO drought. These included mergers and acquisitions as well as secondary market offerings.[11]

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Operations

Iconiq functions as a hybrid family office for ultra-high-net-worth clients.[12] Their client base primarily derives wealth from the technology, high finance, and entertainment industries.[13] Their investment platform has evolved to include private equity, venture capital, growth equity, and real estate.[5][14] 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]

The majority of the firm's assets under management is from wealth management.[7]

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Clientele

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Iconiq does not disclose its clientele and is known for being secretive within the investment management industry.[12] Select clients that have affiliated themselves with ICONIQ include:[4][15]

Meta

Business

Entertainment

Portfolio

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References

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