Icon Ventures
Description
Icon Ventures is a prominent venture capital firm based in Palo Alto, California, specializing in leading Series B and C financing rounds for high-growth technology companies. Established with a clear focus on enterprise software, cloud infrastructure, cybersecurity, and fintech sectors, the firm seeks out businesses that have achieved significant product-market fit and are poised for substantial scaling. Their investment philosophy centers on providing not just capital, but also strategic guidance and operational support to help portfolio companies navigate the complexities of rapid expansion and prepare for successful liquidity events.
The firm is known for its disciplined approach to investment, typically deploying initial checks ranging from $10 million to $20 million. This strategic investment size allows them to take meaningful positions in companies that have demonstrated strong traction and recurring revenue. Icon Ventures has a robust track record of backing companies that have gone on to achieve significant valuations or successful exits, including notable names like Palo Alto Networks, Bill.com, and Proofpoint, underscoring their expertise in identifying and nurturing future industry leaders within the enterprise technology landscape.
Icon Ventures has consistently raised substantial capital to support its investment strategy. For instance, the firm successfully closed its latest fund, Icon IX, at $375 million in 2024, following similar fund sizes for Icon VIII (2022) and Icon VII (2020). This consistent fundraising success reflects strong limited partner confidence in their ability to generate returns. With over $2 billion in assets under management across multiple funds, Icon Ventures remains a significant player in the late-stage venture capital ecosystem, committed to partnering with visionary entrepreneurs to build enduring technology companies.
Investor Profile
Icon Ventures has backed more than 200 startups, with 5 new investments in the last 12 months alone. The firm has led 69 rounds, about 35% of its total and boasts 68 exits across its portfolio.
Investment Focus Highlights
- Concentrates on Series C, Series B, Series D rounds (top funding stages).
- Majority of deals are located in United States, Canada, South Africa.
- Strong thematic focus on Software, Security, Information Technology.
- Led 1 rounds in the past year.
- Typical check size: $10M – $20M.
Stage Focus
- Series C (28%)
- Series B (26%)
- Series D (19%)
- Series E (8%)
- Series A (8%)
- Series Unknown (6%)
- Series F (3%)
- Seed (2%)
Country Focus
- United States (97%)
- Canada (2%)
Industry Focus
- Software
- Security
- Information Technology
- Cyber Security
- Analytics
- Enterprise Software
- Mobile
- Artificial Intelligence (Ai)
- Network Security
- Health Care
Frequently Asked Questions
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