Patrick Grove-backed Icon1c raises $7.9m funding
- ByStartupStory | February 26, 2026
ICON1C, a profitable investment and operating platform with operations in Singapore, has raised S$10 million (US$7.91 million) from about 20 long-standing clients and partners to fund expansion and acquisitions.
The funding was raised from stakeholders and members rather than traditional institutions, emphasizing community alignment.
Founded in early 2025, the company owns brands such as Amber Lounge and Mandala Club, and recently acquired the brand of members’ club 1880.
ICON1C expects to complete five to six acquisitions over the next two years and work toward a potential IPO on a global exchange in the medium term.
Co-founder and executive chairman Patrick Grove has taken seven companies public, including iProperty and iCarAsia.
Its portfolio includes Amber Lounge, a Formula 1 after-party, and Mandala Club, a private members’ club in Singapore.
Proceeds will support M&A, platform development, and global expansion. ICON1C operates in Monaco, Singapore, and Abu Dhabi, with more locations expected soon.
🔗 Source: Icon1c
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