Iconiq Growth announced that it has promoted Roy Luo from principal to general partner.
Based in Palo Alto, California, Luo helps lead the firm’s enterprise software and fintech investment strategies. He joined the firm in 2018 and was made a principal in 2021.
The Yale alumnus began his career at Goldman Sachs in New York. He was an investment banker from 2010 to 2015, before joining TCV, where he was an investment professional from 2015 to 2018, according to his LinkedIn profile.
“Since joining our team Roy has been an incredible and equally humble leader, partner, cultural pillar and friend,” the firm said in a statement. “He has led our partnerships and served in a board capacity for FloQast, Restaurant365, Enfusion, HighRadius, Primer, Truckstop, Conexiom and additionally drove our investments in Ramp, dbt Labs, Clara, Groww and Bill.com. Roy has been instrumental in driving $1.6 billion of investments, but equally importantly, he has been an incredible partner who is deeply committed to relationships he has helped forge.”
In a Q&A, Luo was asked about the investment trends he is most excited about.
“I think the flavor du jour right now is all things AI so any answer to this question wouldn’t be complete without a shout-out to that,” he said. “Beyond all the rapid and exciting developments in AI, I would say that in the tougher macro environment in which we’re now living—with weaker demand and higher cost of capital—buyers are paring back and emphasizing truly ‘mission critical’ purchases.
“In times like these, you really see what products and markets can withstand market volatility, and which teams can adjust and learn from vastly differing operating markets. Businesses with true technological and product advantages, while facing broader macro headwinds, will enjoy massive competitive tailwinds.”
Founded in 2013, Iconiq Growth targets the sectors of SaaS, TMT, financial services, information technology, healthcare and consumer products and services.