Iconiq Growth has named former Datadog president and chief product officer Amit Agarwal a general partner.
Matt Jacobson, a general partner at Iconiq Growth, wrote in a blog post: “Our relationship with Amit spans over a decade, beginning with Datadog’s earliest days and our initial investment in 2015. Over 13 years at the company, Amit played a pivotal role in transforming Datadog from an ambitious start-up into a global software leader.”
Datadog, which provides cloud monitoring as a service, went public in September 2019, pricing its shares at $27 each. Its share price closed at $141.88 on January 8, giving the company a market cap of $48.2 billion.
Agarwal announced last May that he would step down as president of Datadog at the end of 2024 but remain on the company’s board.
“Amit’s influence extends far beyond Datadog,” Jacobson wrote. “As a prolific angel investor and trusted advisor, he has helped shape the trajectory of multiple start-ups, championing innovation and empowering the next generation of entrepreneurs. His passion for supporting bold leaders aligns seamlessly with our mission to help transformative founders from the earliest stages to IPO and beyond.”
In addition to his work at Datadog, Agarwal held product management roles at Quest Software, DataMirror and Embarcadero Technologies.
Iconiq Growth is a tech-focused venture arm of Iconiq Capital, which is based in San Francisco and has $89 billion in assets under management. Iconiq Growth announced that it closed on $5.75 billion for its seventh flagship fund in July 2024.
Investors in Iconiq Strategic Partners VII include Cathay Life Insurance, GE Pension Plan, New Mexico State Investment Council, New York State Common Retirement Fund, San Diego City Employees’ Retirement System, State Teachers’ Retirement System of Ohio, UC Investments and Unum Group, according to fundraising data from affiliate title Buyouts.
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