ICON1C, a Singapore-based investment and operating platform focused on building businesses in the global premium experience economy, announced Thursday it has raised S$10 million ($7.92 million) from its stakeholders and members to accelerate its expansion and for acquisitions.
ICON1C said in a statement that the funding round was deliberately raised from its stakeholders and members rather than traditional
institutions.
Approximately 20 long-standing clients have joined as partners, reflecting deep alignment between the group and the communities it serves.
The proceeds from the raise will be used to execute targeted merger and acquisitions (M&A) across the premium experience economy, prioritizing profitable and cash-generative
businesses; strengthen ICON1C’s central platform capabilities to support scalable, long-term growth; expand flagship brands into new global locations.
ICON1C operates with a disciplined platform model focused on profitability first, selective M&A, and long-term capital compounding — a structure designed to scale efficiently across geographies and categories.
The group expects to complete five to six additional acquisitions over the coming 24 months, as it works toward a potential initial public offering (IPO) on a global stock exchange in the medium term.
“We are seeing a structural, multi-decade shift in consumer behavior. People are increasingly choosing connection, community, and real-world experiences over physical goods,
“ICON1C exists to own and compound the best of those experiences globally—profitably, and at scale,” said Patrick Grove, Co-Founder and Executive Chairman of ICON1C.
“We didn’t raise capital out of necessity. We raised it because we wanted collaborators,
“Our members understand our brands, our standards, and our long-term vision. That alignment is invaluable as we enter the next phase of growth,” he added.
Founded in early 2025, ICON1C was established with an ambition to build a modern house of brands across live events, hospitality, private members’ clubs, wellness, and experiential lifestyle assets.
The group’s foundation brands include Amber Lounge and Mandala Club, and it recently acquired the brand of members club, 1880.
“Luxury has evolved from what you own to what you experience—and who you experience it with. The most valuable experiences today create memory, community, and purpose anchored in real places,
“ICON1C exists to partner with founders pursuing this vision, by helping them scale globally without diluting what makes their brands special,” said Ben Jones, Co-Founder of ICON1C and Founder of Mandala Group.
ICON1C actively partners with founders and operators of established, cash-generative experience businesses seeking a long-term home, operational support, and access to a broader global ecosystem while preserving brand identity and culture.
The firm’s portfolio includes Amber Lounge, the world’s most exclusive Formula 1 after-party for UHNW clientele, global brand partners and leaders; and Mandala Club, Singapore’s leading private members’ club.
ICON1C also operates across Monaco, Singapore, and Abu Dhabi, with additional geographies and brands expected to be announced in the coming months.
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