Iconiq Capital, an investment group supported by Meta Platforms Inc. CEO Mark Zuckerberg and Twitter founder Jack Dorsey, is exploring alternative methods to generate returns from its largest-ever venture fund due to a lack of initial public offerings.
What Happened: The San Francisco-based firm recently closed a $5.75 billion fund through its venture arm, Iconiq Growth, surpassing its previous $4.1 billion fund raised in 2021. Partner Matthew Jacobson told the Financial Times that the fund would adapt to the downturn in public markets, which has resulted in fewer start-ups seeking IPOs.
Jacobson noted that historically, most of Iconiq’s value came from public markets, with around 30 IPOs in the past 11 years. However, no new companies ...
