[3][4] It functions as a hybrid family office providing specialized financial advisory, private equity, venture capital, real estate, and philanthropic services to its clientele.

Iconiq was founded in December 2011 in San Francisco, California by Divesh Makan, Michael Anders and Chad Boeding.

[4][3] During the early 2000s, Makan established relationships with key members of social media start-up Facebook, which later developed into technology conglomerate Meta.

[4][6] During his time at both Goldman Sachs and Morgan Stanley, Makan's team had disagreements with the firms' senior leadership over their business practices.

[4][3][6] In late 2011 they left Morgan Stanley to set up Iconiq to serve as independent wealth advisors to their clients with more autonomy.