TLDR:
- Iconiq Capital, a secretive venture fund, founded by Divesh Makan, has closed its largest fund of $5.75 billion.
- Makan, known for managing the wealth of Mark Zuckerberg and other tech elites, has kept a low profile for over a decade.
Divesh Makan, the founder of Iconiq Capital, a secretive wealth management firm established in 2011 with $80 billion under management, has finally granted an interview after a decade of silence. Iconiq Capital, famous for its high-profile clients like Facebook’s founders and Twitter’s cofounder, Jack Dorsey, recently closed its largest fund to date at $5.75 billion. The firm’s venture capital arm, Iconiq Growth, was the focal point of the discussion, revealing insights on the fund’s success and strategy.
Makan attributes the decision to speak out to feedback from entrepreneurs who expressed a desire for more transparency from the firm. While the firm’s secretive nature has raised eyebrows in the past, Makan acknowledges the importance of establishing a recognizable brand in the competitive venture capital landscape. With an advisory council and a strong network of connections, Iconiq Growth aims to continue its successful track record and secure a strong position in the market.
The article also highlights recent venture deals in the industry, including Monarch Tractor raising $133 million in Series C funding, Maurten securing €20 million, and Endless Health closing a $4.5 million seed round. Private equity transactions, such as Ardian’s majority stake acquisition in Masco Group, and Flexpoint Ford’s hiring of a managing director, Josh Tamaroff, were covered as well.
The article provides valuable insights into the workings of Iconiq Capital and its venture capital arm, shedding light on the firm’s approach to investments, client management, and future growth strategies.
