Venture Capital · Profile from Venture Capital Research Companion
ICONIQ Growth (ICONIQ Capital)
The growth-equity arm of ICONIQ Capital, the San Francisco multi-family office built around the fortunes of Silicon Valley's founders (Mark Zuckerberg was its best-known early client). It turned privileged access to a network of tech billionaires into a concentrated, low-profile growth fund for enterprise software, and by 2025 it was leading rounds as large as Anthropic's $13bn Series F.
At a glance
- Founded
- ICONIQ Capital: 2011, San Francisco. ICONIQ Growth (first dedicated fund): 2013–2014
- Founders
- ICONIQ Capital: Divesh Makan, Michael Anders and Chad Boeding, former private-wealth advisers who left Morgan Stanley's private wealth business (Anders' and Boeding's prior employers reported variously; verify). ICONIQ Growth was built by Will Griffith and Matt Jacobson (founding general partners, reported)
- Headquarters
- San Francisco; offices in New York, Menlo Park, Los Angeles, London and elsewhere (verify current list)
- Ownership / structure
- Private, partner-owned. ICONIQ Capital is an SEC-registered adviser offering wealth management (family office), alternatives and the ICONIQ Growth venture/growth funds
- Leadership (2026)
- Divesh Makan (founder and CEO of ICONIQ Capital); ICONIQ Growth general partners including Will Griffith, Matt Jacobson, Seth Pierrepont, Doug Pepper (joined 2022 from Shasta Ventures) and Murali Joshi (AI investing). Titles and the full partner roster should be verified
- AUM / capital raised
- ICONIQ Capital: ~$80bn+ in total assets advised (reported, 2024–2025). ICONIQ Growth: ~$21bn of commitments raised since 2014 across all funds (firm statement on the Fund VII close, July 2024); a Fund VIII was reported in the market in 2025 (verify)
- Stage focus
- Late-stage growth (usually Series C and later), with some earlier "inflection-stage" bets from Series B. Mainly enterprise software, infrastructure, security, fintech and, from 2023, AI
- Signature investments
- Adyen, Datadog, Snowflake, Procore, Braze, GitLab, Miro, Drata, Writer, Anthropic (lead of the $13bn Series F, 2025). Also reported in Airbnb, Uber, Gong, Pigment and Canva among others. Weaker outcomes: the post-IPO drawdowns at GitLab and Braze, and 2021-vintage marks (for example Miro)
10 deals and moves analysed
Each one gets a full strategy file in the companion: context, the decision, the financing, what happened, and the lesson.
2014
Adyen
Growth Round
2016
Datadog
Series D
2017
Snowflake
Series D
2018
Braze
Series D
2018
Procore
Growth Round
2019
GitLab
Series E
2020
Miro
Series B
2021
Drata
Series B
2023
Writer
Series B
2025
Anthropic
Series F