The article associated with these disclosures was written and published by a third-party publication not associated with ICONIQ Capital.  

The linked article contains certain performance information relating to funds managed by ICONIQ.  While the information quoted is understood to be based on ICONIQ investor data, ICONIQ capital has not confirmed these figures.  The performance information in the linked article claims to be presented on a “net” basis, which generally means that fund-level expenses, fees, and incentive compensation have been imputed into performance figures.  However, these kinds of figures are often approximations and are often presented at a fund level, and therefore may not reflect the performance attributable to any individual investor and may not take into consideration ICONIQ advisory fees (if any).  In addition, the funds for which the performance is computed are private equity and venture funds, which means that the underlying positions are often “fair values,” which leads to additional variability in performance from period to period.  The linked article also contains what could be interpreted to be forward-looking statements based on current plans, estimates and projections, which may not prove to ultimately be accurate.  Investment in securities involves risk of loss and the value of investments may fluctuate and investors may not get back the principal amount invested.  In addition, there can be no assurance that investments made in future funds will have characteristics similar to the funds referenced in the linked article. In all cases, past performance is not necessarily indicative of future results.    

Also, the performance figures presented are for ISP Fund I through ISP Fund IV.  ISP V and ISP VI performance is not included in the figures presented in the articles. Those funds are much earlier in their respective lifecycles than the funds referenced and there should be no implication that ISP Fund V, VI, and VII will achieve returns similar to those achieved by the first four funds. Performance figures for all previous ISP funds are available, upon request, to any potential investor in a current ISP Fund, as well as a list of all ISP portfolio companies to date. Return estimates are for planning purposes only and are not necessarily indicative of actual investment results and there are many factors that may not be fully accounted for in the return assumptions and all of which may adversely affect actual investment results.     

The linked article also contains statements by non-ICONIQ personnel that may be deemed to be testimonials or endorsements under applicable SEC guidance.  Each of those has is a relationship with ICONIQ Capital, either as a client, an investor in an ICONIQ-managed fund, or as a member of an ICONIQ advisory board.  None of those individuals were compensated for any statements made to the author of the linked article.

This article is not an offer to sell or a solicitation of any offer to buy any securities by anyone in any jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation, and is qualified in its entirety by reference to the fund’s constituent documents (e.g. offering memorandum, subscription documents, and governing documents) and client agreement. This presentation does not constitute an invitation or offer to make an investment in the interests in any investment product. This presentation does not contain all of the information necessary to make an investment decision.

A number of important factors could cause actual results or outcomes to differ materially from those expressed in, or implied by, the forward-looking statements. The information herein, including any data, projections and underlying assumptions are based upon certain assumptions, management forecasts and analysis of information available as at the relevant date, all of which are accordingly subject to change at any time without notice and ICONIQ is under no obligation to notify you of any of these changes. Neither ICONIQ nor its principals, employees, fund managers, associates, directors or officers shall be liable for any loss arising directly or indirectly from the use of this information. As some or all private investment funds may not be suitable for certain investors, any persons subscribing for or maintaining an investment must be able to bear the risks involved and must meet the suitability requirements relating to such investment. There can be no assurance that the investments made will be profitable or will equal the performance of prior investments made by persons described in this presentation.

You should conduct, and must rely on, your own investigation and analysis of the data and descriptions set forth in this article, including the merits and risks involved.

This article does not constitute any recommendation regarding any securities, futures, derivatives or other investment products. Nothing in this presentation constitutes accounting, legal, regulatory, tax or other advice. Any decision to subscribe for interests in a fund must be made solely on the basis of information contained in the fund’s offering documents, which information may be different from the information contained in this presentation, and with independent analyses of your investment and financial situation and objectives.

For the full list of ICONIQ Growth’s portfolio companies (except those subject to confidentiality obligations) can be viewed at: iconiqcapital.com/growth/companies.