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According to SEC filings , ICONIQ Growth has bring up $ 5.21 billion across two store affiliated with the Seventh Growth Fund Family . However , the firm ’s original fundraising was $ 5.75 billion , allot to a rootage familiar with the house .
The belated - degree investment unit is part of ICONIQ Capital , which started in 2011 as the private office management Das Kapital of some of tech ’s most prominent and richest masses , including Mark Zuckerberg and Jack Dorsey . The mathematical group met its fundraise aim of$5.75 billion .
ICONIQ Growth did n’t instantly reply to a request for gossip .
The fund size of it is a substantial increase from ICONIQ Growth ’s Fund VI target of $ 3.75 billion .
ICONIQ Growth ’s latest fund haul is impressive , move over that many other large - emergence investor failed to reach their targets by a long scene . Most notably , Tiger Global closed its belated venture capital stock at $ 2.2 billion , the firm ’s smallest fund since 2014,Bloomberg reported . Tiger ab initio planned to raise $ 6 billion , less than half its predecessor vehicle of$12.7 billionthe firm close in March 2022 .
The two giant funds are n’t in on the nose the same position . Tiger Globalwas wide knock for gift capital too quicklyat exorbitant toll during the 2020 and 2021 tech boom ( though it always pushed back on the idea that it was overpay ) . And , unlike Tiger Global , which has been actively sell secondary stake to realize liquidity , Iconiq has been shopping for secondary position , according to two reference .
Iconiq ’s substantial fundraise likely means that its angel are relatively pleased with the business firm ’s investment strategy .
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ICONIQ Growth has realized several dozen loss from its portfolio in late years , include the IPO of Snowflake , Airbnb , GitLab and HashiCorp , harmonize to PitchBook data . In 2023 , Iconiq put $ 1.1 billion into 22 companies , it say , and its portfolio includesstartups likeDrata , Canva , Ramp , ServiceTitan , WriterandPigment .
The firm’sFund VII - B has lift $ 3.95 billionfrom 291 investor , whileFund VII closed on $ 1.26 billionfrom 462 backer , according to regulatory filings .
ICONIQ Growth ’s seventh vehicle will invest in 20 to 25 tech companionship , according to theBuyouts Insider reportbased on the March 2022 encounter of New Mexico Investment Council .
