ICONIQ Capital
Also known as ICONIQ, ICONIQ Capital, LLC, ICONIQ Growth
San Francisco multi-family office and SEC-registered adviser (2011) managing outside clients' capital; its ICONIQ Growth arm (2013) runs flagship venture/growth funds, the seventh at $5.75B (2024).
USEFUL FOR Fund managers raising capital · Business owners seeking a long-term partner · Co-investors
San Francisco multi-family office and SEC-registered investment adviser (ICONIQ Capital, LLC) whose venture and growth arm is ICONIQ Growth. It manages money for many client families and for outside fund investors, not for one family.
Identity
- HEADQUARTERS
- San Francisco, United States
- FOUNDED
- 2011
- AUM
- $100B (2026)
- OUTSIDE CAPITAL
- Yes — also manages others' money
Investment approach
- GEOGRAPHY
- Global
- STAGES
- Growth
- ROUTES
- Companies (own capital) · Funds (as LP)
- STRATEGIES
- Venture capitalDirect investmentsFunds (as LP)Real estate
- LATEST DEAL
- Rillet (Series C) · Aug 2026
Overview
ICONIQ Capital is a San Francisco investment firm and multi-family office founded in 2011 by former Goldman Sachs banker Divesh Makan; a 2021 Bloomberg report carried by WealthBriefingAsia said its clients have included Mark Zuckerberg, Sheryl Sandberg, Jack Dorsey and Reid Hoffman. Its Form CRS (March 2026) describes ICONIQ Capital, LLC as an SEC-registered investment adviser providing investment advisory and family office services, managing clients' direct investments, allocating to third-party managers and funds, and sponsoring its own private pooled vehicles; clients generally have a net worth of $25 million or more. Its website reports over $100 billion in assets under management and four business lines: investment management (portfolios and family advisory), venture and growth (ICONIQ Growth, launched 2013), impact (collaborative philanthropy) and real assets (accommodations with Sentral and digital infrastructure with Blue Owl). In July 2024 ICONIQ Growth announced its seventh flagship fund with $5.75 billion in committed capital. It led Ramp's $500M Series E-2 (August 2025), co-led Anthropic's $30B Series G (February 2026) and its Series H (May 2026), led Ramp's $750M Series F at a $44B valuation with GIC and Ontario Teachers' (June 2026), and led Rillet's $100M Series C (August 2026).
Investment thesis
ICONIQ Growth says it partners with category-leading companies from the early inflection point of product-market fit to IPO and beyond, and that great companies are forged during times of transition such as the current shift to artificial intelligence.
Holdings & investments (15)
- AnthropicNOTABLEArtificial Intelligence
- RampNOTABLEFintech
- RilletNOTABLESoftware & SaaS
- DatabricksNOTABLEArtificial Intelligence
- ConductSoftware & SaaS · since 2026
- PaperSoftware & SaaS · since 2026
- K2 SpaceSpace · since 2026
- WhatnotConsumer & E-commerce · since 2026
- CanvaSoftware & SaaS
- Artificial Intelligence
- Deep Tech
- AirbnbConsumer & E-commerce · IPO/Acquired
- FigmaSoftware & SaaS · IPO/Acquired
- Software & SaaS · IPO/Acquired
- Software & SaaS · IPO/Acquired
People
- Divesh MakanFounder (reported in 2021 as controlling shareholder; current title not published by ICONIQ) · source
- Rob BernshteynGeneral Partner, ICONIQ Growth (joined 2024; former Chairman and CEO of Coupa Software) · source
- Alex GorskyPartner, ICONIQ Growth (joined 2024; former Chairman and CEO of Johnson & Johnson) · source
- Kamran ZakiPartner, ICONIQ Growth (joined 2024; former COO of Adyen) · source
Frequently asked questions
ICONIQ Capital is a multi family office based in San Francisco, the United States, founded in 2011.
ICONIQ Capital invests its own capital into companies and in third-party funds as an LP. Its stated asset mix includes venture capital, direct investments, funds (as lp) and real estate.
ICONIQ Capital invests at Growth stage in Software & SaaS, Artificial Intelligence, Fintech and Consumer & E-commerce.
Key people at ICONIQ Capital include Divesh Makan (Founder (reported in 2021 as controlling shareholder; current title not published by ICONIQ)), Rob Bernshteyn (General Partner, ICONIQ Growth (joined 2024; former Chairman and CEO of Coupa Software)), Alex Gorsky (Partner, ICONIQ Growth (joined 2024; former Chairman and CEO of Johnson & Johnson)) and Kamran Zaki (Partner, ICONIQ Growth (joined 2024; former COO of Adyen)).
ICONIQ Capital's holdings and investments include Anthropic, Ramp, Rillet, Databricks, Conduct, Paper, K2 Space and Whatnot, among others.
The most recent publicly reported investment by ICONIQ Capital is Rillet (Series C), announced in Aug 2026.
Yes. ICONIQ Capital manages capital from outside investors.