Iconiq raises $5.15B toward seventh flagship fund
Iconiq Capital has raised $5.15 billion across two funds associated with the seventh growth fund family, according to SEC filings. The firm, which launched in 2011 as a private office managing capital of some of the most prominent and wealthiest people in tech, including Mark Zuckerburg and Jack Dorsey, originally targeted $5.75 billion, according to meeting information from New Mexico State Investment Council, the Wall Street Journal reported in March 2022. It is unclear if the firm is still raising capital toward its goal. Iconiq didn’t immediately respond to a request for comment. The fund size is a substantial increase from Iconiq’s fund VI target of $3.75 billion. Iconiq’s latest fund haul is impressive, given that many other large growth investors failed to reach their targets by a long shot. Most notably, Tiger Global closed its latest venture capital fund at $2.2 billion, the firm’s smallest fund since 2014, Bloomberg reported. Tiger initially planned to raise $6 billion, less than half its predecessor vehicle of $12.7 billion the firm closed in March 2022. The two …