How Iconiq, Backed by Zuckerberg, Is Redefining Giving for the Ultra-Rich

Iconiq Capital, the private investment firm with clients including Mark Zuckerberg and Jack Dorsey, is pioneering a new form of collaborative philanthropy designed for busy ultra-wealthy entrepreneurs who want to make a fast and meaningful impact.

As tax incentives for charitable giving decline and federal social funding faces cuts, Iconiq’s charitable arm, Iconiq Impact, has raised nearly $900 million for nonprofits in just six years through its “co-lab” model. These funds pool contributions from multiple donors and direct them toward multiyear grants for causes like climate action, youth mental health, and economic equity.

The latest co-lab, focused on youth mental health, has already raised $112 million from ten families, with a goal of reaching $200 million by year-end.

Matti Navellou, who leads Iconiq Impact and previously worked at UNICEF, said the co-lab model was born from wealthy clients’ desire to collaborate with philanthropic peers while avoiding the complexity of building their own foundations. Co-labs help reduce administrative burdens and speed up the flow of funds to nonprofits.

“This model allows donors to act fast, with confidence, and without needing to micromanage,” said Navellou. Iconiq develops a curated portfolio of vetted nonprofits after gathering funders and subject matter experts in a series of focused meetings.

The model is gaining traction among newer generations of wealthy families who are more data-driven, issue-agnostic, and motivated by measurable impact than previous donors. Women, in particular, are expected to play a bigger role, with 70% of the $124 trillion in generational wealth expected to pass to women in the next 25 years.

Navellou believes this shift will bring a new wave of generosity and urgency to philanthropy. Even non-clients can join Iconiq’s co-labs with contributions starting at $250,000 annually, while core participants typically commit multi-million-dollar gifts over three to five years.

As philanthropy faces rising challenges and changing donor behavior, Iconiq’s approach may be pointing to the future of giving, one that is faster, more collaborative, and focused on impact rather than prestige.