Iconiq Targets $3.75bn for Sixth Growth Fund

Iconiq Capital LLC, an investment firm that manages money for some of the most prominent people in Silicon Valley, is raising a new fund to invest in fast-growing technology companies.

The vehicle, Iconiq Strategic Partners VI, is targeting $3.75bn, based on information presented at a meeting Tuesday of the New Mexico State Investment Council. The newest fund’s proposed size would be a significant step up from the firm’s fifth fund, which closed on $2.6bn, according to David Lee, director of private equity for the New Mexico State Investment Council.

The fund will target enterprise software and financial technology companies.

ICONIQ Capital is a privately-held investment firm that serves some influential families and organisations. They facilitate meaningful strategic relationships across investment opportunities, family governance, and global impact.

Source: Wall Street Journal