New Chapter: So excited to have joined ICONIQ Capital

Doug Pepper
Aug 19, 2019 · 4 min read

After nearly four great years at Shasta, I am excited to share the news that I have joined ICONIQ Capital’s growth equity team. This was the most complex career decision I have ever made, but ultimately it became clear that ICONIQ represents a once-in-a-lifetime opportunity. And, it was one of those rare examples in business where the stars aligned. Let me explain why.

Venture investing is all about trusted relationships — with founders, teams and, also within our partnerships. And, for me, joining ICONIQ is a natural fit given the deep existing relationships I have with the team. ICONIQ Partner Will Griffith and I have been personal friends since attending college and business school together. I have served on several boards with General Partner Matt Jacobson and I have known Greg Stanger, another GP, for many years. Head of Talent Chis Hubbell and I have worked together on several portfolio search committees. And, getting to know ICONIQ Founders Divesh Makan, Mike Anders as well as other partners Yidrienne Lai, Adar Zango and Evan Lintz convinced me of the power of the vision and platform. ICONIQ feels like a group of trusted friends — we have similar values and a shared approach to supporting founders.

ICONIQ’s team and I also have a shared vision for the types of companies that excite us — mission driven, product-maniacal teams that have built breakthrough products with exceptionally happy customers. That’s how we ended up in so many investments together. In the past few years, the ICONIQ growth equity team has partnered with 4 of my prior investments (Braze, People.ai, Sendbird, Highspot) and it is exciting that I am able to continue working with those companies. At ICONIQ, I now have the unique opportunity to invest in breakthrough companies regardless of stage. I have often remarked that the only thing worse than not investing in a world-class company EARLY is not investing AT ALL. If I miss a company early in its life (which has happened many times), the ICONIQ platform provides the opportunity to invest further along in their journey.

From my vantage point, venture capital is in the midst of a rapid transformation and the bar has gone up dramatically regarding the value-add that entrepreneurs deserve from their venture partners. In this vein, ICONIQ has built what I believe is a unique platform for supporting founders and executives in their journey. ICONIQ is more than a platform, but really an ecosystem, at the core of which is a network of global business leaders across sectors that ICONIQ has partnered with and serviced for many years. This network has been harnessed in many ways in an effort to benefit emerging companies that partner with ICONIQ — from providing informed perspectives, commercial opportunities, executive recruiting, attracting advisors/board members and much more.

And, after nearly a decade of nurturing this ecosystem, the flywheel at ICONIQ is spinning faster than ever. ICONIQ has partnered with breakout companies like Snowflake, Datadog, Procore, Adyen, Zoom and so many others*. These companies and teams are adding to the ever-growing talent in the ICONIQ ecosystem. I believe ICONIQ represents the future of venture capital — a deep platform providing value to emerging companies, but ALWAYS with the core being the personal touch of trusted individuals who partner with entrepreneurs in their journey.

While I am excited about joining ICONIQ, it comes with mixed emotions as leaving Shasta has been a very difficult decision. Shasta’s founder-first reputation is hard-earned and well-deserved. I learned so much from them on how to be a trusted partner to founders. Shasta has made incredible investments in companies like Anaplan, Zuora, Glint, Nextdoor, Nest, The Farmer’s Dog and so many others. I know they will continue to thrive in my absence, as they did for so many years before I joined. Thank you to Jason, Tod, Ravi, Nikhil, Rob, Nitin, Jacob, Natalie, Rachel, Catherine, Avery, Austin, Rose, Kelly, Mei Lin, Alaina, Caitlin, Vy, Elena and the entire team. I will miss you all.

I am thrilled to be getting started here at ICONIQ. I will be in San Francisco (and sometimes Palo Alto) doing what I’ve done for the past 19 years…building deep relationships with talented founders and doing my best to help them build their dreams into reality. Feel free to reach out to me anytime at doug@iconiqcapital.com

*For a full list of investments made by ICONIQ Capital’s Tech Growth Equity Platform, please refer to here.

Doug Pepper
Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade