Bay Area family office ICONIQ invests in Nevis’ $40M Series A

ICONIQ, the Bay Area–based family office and investment firm serving ultra-high-net-worth individuals, has participated in a $35 million Series A financing round for Nevis, an AI platform focused on wealth management. The round was led by Sequoia Capital with participation from ICONIQ and Ribbit Capital, bringing Nevis’s total funding to $40 million less than a year after its founding. Nevis develops AI-native tools that automate end-to-end administrative workflows for financial advisors, supporting Registered Investment Advisors (RIAs) that collectively manage more than $50 billion in client assets. The company’s platform is designed to reduce the time advisors spend on operational tasks such as client onboarding, account opening, and meeting preparation, enabling firms to scale more efficiently while maintaining personalized client service.

ICONIQ’s investment reflects its broader focus on technology-enabled platforms that serve the global wealth management and financial services ecosystem. Founded in San Francisco, ICONIQ operates at the intersection of wealth management and growth equity investing, advising and investing on behalf of some of the world’s most influential families, entrepreneurs, and executives. Through its participation in Nevis’s Series A round, ICONIQ is backing an AI-first approach to modernizing wealth management infrastructure, leveraging the founding team’s prior experience as senior executives at Revolut, a global digital bank serving more than 65 million customers.

About ICONIQ: The Bay Area family office

ICONIQ is a San Francisco–based investment and advisory firm that works with ultra-high-net-worth individuals, families, and institutional partners. Established in 2011, the firm provides wealth management services alongside a global investment platform spanning growth equity, venture capital, and technology-enabled businesses. ICONIQ is known for its long-term, relationship-driven approach and has invested in a range of category-defining companies across financial services, enterprise software, and consumer technology. In addition to its investment activities, ICONIQ advises clients on portfolio construction, governance, and strategic capital allocation. In October, Iconiq rolled $1.8bn of investmens in continuation funds. In July, it led the $13bn Series F of Anthropic (which stands behind popular LLM Claude). These major deals show the importance of the Bay Area family office Iconiq.

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Article Source: Business Wire – Nevis press release