ICONIQ Capital, which manages the money of a number of US tech billionaires including Mark Zuckerberg, is likely to have realised a sizable profit after the Dutch payment group Adyen listed on the Amsterdam stock exchange on Tuesday.
San Francisco-based ICONIQ was one of a number of investors that backed Adyen, which had a market value of more than €12 billion on Wednesday. ICONIQ backed Adyen in an unspecified venture round back in September 2015. Other backers include the Geneva-based Index Ventures, New York investment group General Atlantic, and the Singapore investment group Temasek Holdings.
According to Adyen’s share prospectus, ICONIQ, through various funds, owns around 4.3% of the multi-payments group. Given a market value of €12 billion, that shareholding translates into a value of around $500 million. INCONIQ’s initial funding for the Dutch group hasn’t been disclosed, but it’s likely to be considerably less than the half a billion dollars its shares are worth since Adyen’s initial public offering.