Gate News message, April 18 — Iconiq, a San Francisco-based wealth manager and venture investor, is preparing to raise billions of dollars for a new fund focused on AI investments, according to securities filings and sources familiar with the matter. The firm deployed more than $3 billion into AI startups in 2025 alone.
Iconiq manages approximately $100 billion in total assets, with about $26 billion dedicated to venture investments. The firm has invested roughly $4 billion in Anthropic, positioning itself as one of the startup’s largest backers. Its first four venture funds ranked in the top quartile of their peer groups by year-end 2025, according to Cambridge Associates data.
The composition of Iconiq’s investor base has shifted significantly. In its recent $5.75 billion fund, wealth management clients provided less than 20% of capital, compared with roughly two-thirds in the firm’s first fund. Institutional investors, including pension funds such as the New York State Common Retirement Fund, now rank among major backers. Over the past year, Iconiq made six new AI investments, including Writer, which provides AI text generation software for businesses, and Pinecone, which offers data infrastructure for AI applications.
Iconiq was founded by former Goldman Sachs and Morgan Stanley advisors and counts among its advisory council members Mark Zuckerberg, Yahoo co-founder Jerry Yang, and General Motors CEO Mary Barra. The firm’s 2014 fund returned 5.5 times invested capital, signaling confidence in sustained AI demand within the venture capital ecosystem.
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