"Zuckerberg's Wealth Manager Wants to Be a Buyout Shop". ^ a b Das, Juliet Chung and Anupreeta ()."This Adviser Enjoys Friends in High Places". "Wealth Manager Iconiq, Known for Silicon Valley Ties, Widens Real-Estate Holdings". ^ a b c d e f "How the Facebook IPO is creating the mother of all RIAs, Iconiq, and what an in-your-face it is for Wall Street"."The Spider Of Silicon Valley: Inside 'Zuck & Friends' Secret Billionaire Fund". Notable high net worth clients Īccording to Forbes and Business insider, ICONIQ Capital has served the following high net worth clients: In a written statement, the firm stated only a small amount of money from its family office clients are allocated into its investment funds, and it will always be at the client's discretion. ICONIQ Capital has a hybrid structure designed to reduce conflict of interest between the wealth management business and the investment business. Its investment business serves institutional clients such as the pension fund, CPP Investment Board. However, it later expanded into investments related to private equity and real estate. It used to focus only venture capital investments in startups. The firm also functions as an investment firm. Many of the firm's clients are involved in the Silicon Valley technology scene as well as Hollywood.
ICONIQ Capital is most notable for providing family office services for high net worth clients. In 2020, Dyal Capital Partners acquired a 6% stake in ICONIQ Capital. In 2018, co-founder Chad Boeding left ICONIQ Capital to form his own firm, Epiq Capital. Previously, Griffith was a partner at TCV. In 2012, Will Griffith joined ICONIQ Capital and was a founder of ICONIQ Strategic Partners, which would become the investment arm of the firm. This was close to the date of the Initial public offering of Facebook which the firm was also involved in. Įventually in 2011, Makan and his team left Morgan Stanley to set up ICONIQ Capital to serve as wealth advisors to their clients independently with more autonomy. ĭuring his time at both Morgan Stanley and Goldman Sachs, Makan and his team had disagreements with the higher ups due to firm restrictions as well as being pressured to sell financial products from both firms.
In 2004, Makan met Mark Zuckerberg as one of his clients which would later help him meet other key members affiliated with Facebook such as Sheryl Sandberg and Dustin Moskovitz. The trio previously worked in wealth management at Morgan Stanley and Goldman Sachs. This is what Wolt focuses on - building the most efficient company in food delivery.ICONIQ Capital was founded in 2011 by Divesh Makan, Michael Anders and Chad Boeding. However, while virtually everyone operating in this market can show extremely strong growth, it is incredibly difficult to do this while also building a viable business for the long-term. “This is a massive opportunity across all geographies for companies like Wolt to tackle. “The online food delivery market is estimated to grow globally from $35 billion today to $365 billion by 2030,” said Miki Kuusi, co-founder & CEO of Wolt. It also claims to be working with more than 5,000 restaurants and 10,000 couriers. The company currently operates in 50 cities across 15 countries and employs 450 people.
Finnish food delivery service Wolt has just gobbled up a $130 million funding round led by ICONIQ Capital, with participation from existing investors 83North, EQT Ventures, Highland Europe, and Lifeline Ventures.įounded in 2014 in the Finnish capital, Wolt is a service that facilitates the delivery of food from local restaurants to customers in the same way as the other players in this niche.
0 kommentar(er)
