The current house was completed in 2013 and is a cedar-sided, vaguely Cape Cod-inspired mansion with 6,200 square feet of living space, six bedrooms and six bathrooms. But grant deeds show the seller was apparel mogul Jeff Marine, who had purchased the property in 2010 for $7.2 million. Back in May, the Stanford MBA and his longtime wife Calla paid exactly $20 million for an oceanfront house on Malibu’s exclusive Broad Beach, records reveal.īecause the deal was totally off-market, photos and details of the home are scant. And while it’s not clear exactly how much money has trickled down to the executive ranks, it’s certainly been kind to the net worth of cofounder Griffith. And in 2019, it began buying up thousands of rental apartments across the United States.Īs of early 2021, Iconiq had more than $50 billion in assets under management, ranking the secretive firm as one of the country’s fastest venture capital/private equity success stories. Its founders have invested in dozens of tech startups around the globe earlier this year, the company launched a new European office. In recent years, Iconiq has increasingly begun acting more as a hybrid firm - focusing on venture capital investing while also still handling clients’ mundane day-to-day financial affairs. Also now clients of Iconiq are folks outside tech’s inner circle - billionaire hedge funders David Bonderman, Henry Kravis, and Tiger Global Management’s Chase Coleman, all of whom sit on the company’s board of directors. Zuckerberg gave fledgling Iconiq a big name in Silicon Valley, and the company’s client roster now includes Facebook’s Sheryl Sandberg and Dustin Moskovitz, LinkedIn’s Reid Hoffman and Twitter’s Jack Dorsey. But their most famous client, and the key to their success, is Mark Zuckerberg, who met Makan in 2004 while Facebook was still in diapers. Today, Iconiq’s client list reads like a who’s-who of Silicon Valley greats. Described by Forbes in 2014 as “an obscure Silicon Valley firm” that’s technically an ordinary registered investment advisory, the 10-year-old company has been transformed by its founders - Divesh Makan, Michael Anders, Chad Boeding and Griffith - into a highly exclusive tech mogul billionaires club that “operates as a cross between a family office and a venture capital fund.” For us it's a very important region where we have a lot of our existing customers, and there's a lot of growth opportunity there too.Not many wealth managers can fathom affording their own $20 million house, much less two of them, but then again few wealth managers are as successful as Will Griffith and his San Francisco-based Iconiq Capital. A key reason for us to do this round is not about the money, but more about the relationship and the network that Iconiq has in Silicon Valley. But then hey, if it's Iconiq and everything they can bring, that's really attractive. "Were we really actively looking out for funding? No. "If Iconiq really wants to invest in you, it's really hard to say no," he added. From that point of view the connection is really worthwhile to us." We never really had strong connections in the Valley. "We've got Europe and London really well covered through Index Ventures, and we had Temasek in Asia join us last year, as well as General Lending who are on the East Coast. We've had the best investors so far, but look at the geographical spread of those. We weren't looking for extra funding, but we realised it would fill a bit of a gap. "And over the past nine months they kept showing interest. "Things didn't come together, but you continue to talk and stay connected," he said. "When we did our round last November we were already talking to Iconiq - we've been speaking to them for a few years," Prins told Business Insider. Account icon An icon in the shape of a person's head and shoulders.
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