ICONIQ Capital
Hey guys,
I understand the firm is a family office for many of the wealthy in the Silicon Valley. I have applied for the financial analyst position at the company, and if anyone has worked at ICONIQ Capital, or is familiar with the culture and responsibilities, I would love to get your feedback.
- What is the office atmosphere like?
- Outside of portfolio management tasks, do you get to participate in investment target analysis? If not, who in the firm performs such tasks?
- How much of learning opportunity does the firm & the position provide over working at traditional IBD/PE/VC?
- What have been the typical exit ops for financial analysts in the firm?
Thank you in advance for your input.
Information on this firm is pretty limited. The @thebrofessor works in the industry and has written some good posts about similar firms.
Bumping this thread, not a lot of info on this firm that I can find...
Bump
Interesting firm - blurring the lines of what it means to be a traditional wealth manager, for better or worse. Don't think they can safely be called a family office anymore. FM's don't have conflicts of interest because they only have one interest. ICONIQ continues to build out their VC business which must continue to present challenging CsOI. But it's a very sexy pitch to HNW clients for wealth management services. You can only invest in our deals if you bring your money here.
To your questions - Ask to sit down with an employee if you get far enough along. Don't purely rely on anonymous people in internet-land. It's ok to ask these questions.
Their financial analyst position isn't involved in investing at all, there's a dedicated team for their VC fund, which is very competitive to get into, they take people from IB as associates (MS/GS top groups). The financial analyst position is FP&A/back-office fund accounting type work.
Without revealing too much, I've been working at ICONIQ PE/GE for a while now. We usually take IB (current associate/VP class is mostly tech IB from MS/JPM).
The office atmosphere is very open, fairly horizontal communication, I get to interact with the VP and up, and analysts approach us without too much hassle. Probably what I would consider one of the best parts of working here.
We get to participate in the investment target analysis but mostly the research is for the new analyst class. Mostly due diligence and client set-ups for us. The learning opportunity for us then is client interaction and building a network.
As far as exit ops go, you could probably go to any large start-up, but for most of the associates, this is their exit. We've seen a few people leave for PE but it is such a different culture/skillset that I wouldn't count on it. That said, we do have a very good rep, especially amongst west side firms.
Edit: Delete
I want to ask a follow up question about the culture there. FWIW - Linkedin stated that the average tenure there was 2yrs. That seems to fit with other whispers about it being a sweat shop. The second would be regarding the split of the partners. What is the prevailing attitude of the people who remained? p.s. I've been pinged for a Sr. Client Analyst role (Currently in Trust Admin) Thanks
Bumping. If anyone has updates or insights for 2020 , it would be nice to hear
Heard from a friend in asset management that their returns are pretty bad, like a 2x MOIC on last vehicle. They primarily source based on referencability / brand name and pay top of the market to do so (e.g. investment in Uber at $68B valuation)
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