Their client base primarily derives wealth from the technology, high finance, and entertainment industries. ICONIQ functions as a hybrid family office for ultra-high-net-worth clients. In 2020, asset manager Blue Owl Capital acquired a 6% stake in ICONIQ. In 2018, Boeding spun out of ICONIQ to form his own wealth advisory firm, Epiq Capital. That year they brought on Will Griffith (a general partner at TCV), to lead their in-house venture arm, ICONIQ Strategic Partners. ICONIQ's launch coincided with the initial public offering of Facebook in May 2012, which was overseen by Morgan Stanley. In late 2011 they left Morgan Stanley to set up ICONIQ Capital to serve as independent wealth advisors to their clients with more autonomy. During his time at both Goldman Sachs and Morgan Stanley, Makan's team had disagreements with the firms' senior leadership over their business practices. One of his first clients was the co-founder of Facebook, Mark Zuckerberg, who introduced Makan to Sheryl Sandberg and Dustin Moskovitz. During the early 2000s, Makan established relationships with key members of social media start-up Facebook, which later developed into technology conglomerate Meta. The trio previously worked as wealth advisors at Goldman Sachs and Morgan Stanley. ICONIQ Capital was founded in December 2011 in San Francisco, California by Divesh Makan, Michael Anders and Chad Boeding. The firm operates in-house venture capital, growth equity, and charitable giving funds for its clients. ICONIQ Capital primarily serves ultra-high-net-worth clients working in technology, high finance, and entertainment. It functions as a hybrid family office providing specialized financial advisory, private equity, venture capital, real estate, and philanthropic services to its clientele. ICONIQ Capital is an American investment management firm headquartered in San Francisco, California.