The secretive family office that manages the wealth of Mark Zuckerberg, Reid Hoffman and Sheryl Sandberg has just opened a new London office with a high profile hire from Accel.
, which now has a stock market value of $40 billion. Iconiq also holds stakes in Belgian data platform Collibra and London-based fintech Primer.
Iconiq was founded in 2011 by former Goldman Sachs and Morgan Stanley bankers Divesh Makan, Michael Anders and Chad Boeding. Makan began working with shortly after he moved to Palo Alto, adding a key name to the roster of future Silicon Valley heavyweights that invested with Iconiq.. Its assets under management have exploded from $43 billion in November 2020 to over $80 billion today due to a boom in tech valuations and a number of IPOs during the pandemic. That’s even with the share price of some big Iconiq exits like Datadog down almost 40% from its stock market peak.
Only around 10% of Iconiq’s portfolio is based in Europe, but the firm was drawn by a crop of seasoned founders, and executives that are starting new companies, says Matthew Jacobson, a general partner with Iconiq Growth. “You have repeat founders, a more experienced ecosystem, and it creates a very powerful dynamic that we are excited to invest in,” says Jacobson.
Iconiq faces competition from both local investors with a larger footprint, and a growing contingent of American investors like
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