Announcing our Seventh Flagship Fund
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ICONIQ was founded on the premise that cultivating a global community of inspired influential families and extraordinary entrepreneurs would create uncommon opportunities across sectors and society. After experiencing the incredible alchemy that came from the unification of ideas and differentiated capital in our community, we launched ICONIQ Growth in 2013 to invest in the next generation of exceptional technology leaders. We remain steadfast in our mission: to partner with relentlessly ambitious founders early in their journey to build category-leading companies that define the horizon.
After eleven years, over 140 business partnerships, 27 IPOs1, and over $1.5T in market capitalization2, we are thrilled to announce the launch of our seventh ICONIQ Growth flagship fund. With $5.75B in committed capital—a substantial increase over our last fund—we have the unique opportunity to support a new generation of extraordinary leaders early in their quest to transform groundbreaking ideas into world-changing realities.
While the last few years have been remarkably dynamic across the technology landscape, rapid change gives rise to tremendous opportunity. We believe great companies are forged during times of transition, and we are entering a new golden age of inspiring ideas such as in artificial intelligence. In the last year, we have partnered with six AI emerging market leaders and see enormous opportunities to reimagine technology through the lenses of cognition and reasoning in pursuit of expanding knowledge. We are grateful to have the trust and engaged support of our global community in advancing our mission at this exciting, catalytic moment.
At ICONIQ Growth, we partner with companies from the early inflection point of product-market fit to IPO and beyond. Our heritage is built on unwavering commitment and enduring partnerships with exceptional leaders who dare to go the distance. We are dedicated to building upon this legacy.
Indeed, we are inspired by founders who are challenging the status quo. Visionaries like Benoit Dageville and Thierry Cruanes who showed us the cloud’s potential to revolutionize the power of data when we first invested in Snowflake as a lead investor in 2017 and then expanded that partnership seven-fold in the path to IPO and beyond. Those like Tooey Courtemanche who proved it was possible to connect every stakeholder in the construction industry on a global platform when we led our first of many investments in Procore in 2015 and then deepening our partnership twenty-fold to the present. And, more recently, Eléonore Crespo and Romain Niccoli who showed us how enterprises can come together to collaboratively plan for the future when we led an investment in Pigment in 2023 and again in 2024. These founders and their extraordinary teams fuel our unwavering passion to support them in achieving uncommon outcomes3.
To be the best possible partner to our portfolio companies, we have strategically expanded our own team over the last several years. In 2024 alone, we welcomed new partners Rob Bernshteyn (former Chairman and CEO of Coupa Software), Alex Gorsky (former Chairman and CEO of Johnson & Johnson), and Kamran Zaki (former COO of Adyen) to enhance our investment lens and expand our operational expertise to further support our growing portfolio.
To further extend our portfolio companies’ success, we continue to invest in our platform and distinctive capabilities including revenue generation, talent acquisition, data-driven operational insights, technical advisory, and go-to-market advisory. We actively convene our community through strategic and unforgettable events that spark the imagination, deliver valuable insights, and enable the learning and connections vital to our shared success.
As we mark the milestone of this new fund, we are grateful to the ICONIQ community of partners for their trust in our team and our differentiated strategy as we pour our entire selves into supporting best-in-class, emerging market leaders. We are committed to earning that trust every day through uncommon care and our tireless “you’ve gotta want it” spirit that has always been core to our identity. Thank you for being a force of active support and inspiration on this mission.
Published:
July 22, 2024
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Notes
All figures are as of 6/28/2024 unless noted otherwise.
1. IPOs also include other public listing events, including direct listing (Warby Parker) and SPAC (Hippo).
2. Represents the estimated total equity value of ICONIQ Growth’s portfolio companies based on internal, unaudited calculations. For active private companies, valuations are as of 3/31/2024 or latest available. For active publicly traded companies, valuations are as of 6/28/2024. For fully realized investments, the valuations are at time of ICONIQ Growth’s exit.
3. The full list of ICONIQ Growth’s portfolio companies (except those subject to confidentiality obligations) can be viewed at: iconiqcapital.com/growth/companies.
Disclaimer
The views expressed in this presentation are those of ICONIQ Growth ("ICONIQ" or the "firm"), are the result of proprietary research, may be subjective, and may not be relied upon in making an investment decision. This presentation is for general information purposes only and does not constitute investment advice. This presentation must not be relied upon in connection with any investment decision. The information in this presentation is not intended to and does not constitute financial, accounting, tax, legal, investment, consulting or other professional advice or services. Nothing in this presentation is or should be construed as an offer, invitation or solicitation to engage in any investment activity or transaction, including an offer to sell or a solicitation of an offer to buy any securities which should only be made pursuant to definitive offering documents and subscription agreements, including without limitation, any investment fund or investment product referenced herein. Any reproduction or distribution of this presentation in whole or in part, or the disclosure of any of its contents, without the prior consent of ICONIQ, is strictly unauthorized. This presentation may contain forward-looking statements based on current plans, estimates and projections. The recipient of this presentation ("you") are cautioned that a number of important factors could cause actual results or outcomes to differ materially from those expressed in, or implied by, the forward-looking statements. The numbers, figures and case studies included in this presentation have been included for purposes of illustration only, and no assurance can be given that the actual results of ICONIQ or any of its partners and affiliates will correspond with the results contemplated in the presentation. No information is contained herein with respect to conflicts of interest, which may be significant. The portfolio companies and other parties mentioned herein may reflect a selective list of the prior investments made by ICONIQ. Certain of the economic and market information contained herein may have been obtained from published sources and/or prepared by other parties. While such sources are believed to be reliable, none of ICONIQ or any of its affiliates and partners, employees and representatives assume any responsibility for the accuracy of such information. All of the information in the presentation is presented as of the date made available to you (except as otherwise specified), and is subject to change without notice, and may not be current or may have changed (possibly materially) between the date made available to you and the date actually received or reviewed by you. ICONIQ assumes no obligation to update or otherwise revise any information, projections, forecasts or estimates contained in the presentation, including any revisions to reflect changes in economic or market conditions or other circumstances arising after the date the items were made available to you or to reflect the occurrence of unanticipated events. For avoidance of doubt, ICONIQ is not acting as an adviser or fiduciary in any respect in connection with providing this presentation and no relationship shall arise between you and ICONIQ as a result of this presentation being made available to you. ICONIQ is a diversified financial services firm and has direct client relationships with persons that may become limited partners of ICONIQ funds. Notwithstanding that a person may be referred to herein as a "client" of the firm, no limited partner of any fund will, in its capacity as such, be a client of ICONIQ. There can be no assurance that the investments made by any ICONIQ fund will be profitable or will equal the performance of prior investments made by persons described in this presentation. Any information in this presentation is directed at, and intended for, only persons who are experienced institutional or professional investors (“professional investors”) as defined by applicable law and regulation. Any person that is not a professional investor is not an intended recipient of this presentation and the matters discussed herein.
For avoidance of doubt, ICONIQ is not acting as an adviser or fiduciary in any respect in connection with providing this presentation and no relationship shall arise between you and ICONIQ as a result of this presentation being made available to you.
ICONIQ is a diversified financial services firm and has direct client relationships with persons that may become limited partners of ICONIQ funds. Notwithstanding that a person may be referred to herein as a "client" of the firm, no limited partner of any fund will, in its capacity as such, be a client of ICONIQ. There can be no assurance that the investments made by any ICONIQ fund will be profitable or will equal the performance of prior investments made by persons described in this presentation.
Any information in this presentation is directed at, and intended for, only persons who are experienced institutional or professional investors (“professional investors”) as defined by applicable law and regulation. Any person that is not a professional investor is not an intended recipient of this presentation and the matters discussed herein.
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