ICON1C Raises $7.92M in Community Funding Led by Patrick Grove for Premium Experience Expansion and Acquisitions

Singapore-based ICON1C has successfully raised S$10 million ($7.92 million) from its stakeholders and community members to drive aggressive growth.

The funding round, deliberately sourced from loyal collaborators rather than traditional venture capital, underscores the platform's unique community-driven model.

Funding Strategy and Investor Alignment

Approximately 20 long-standing clients stepped in as partners, aligning perfectly with ICON1C's vision for long-term collaboration.

Company History and Founding Vision

Launched in early 2025 by Co-Founder and Executive Chairman Patrick Grove alongside Ben Jones, the company targets the burgeoning premium experience economy.

ICON1C focuses on profitability-first operations, selective mergers and acquisitions, and compounding capital across live events, hospitality, private clubs, wellness, and lifestyle assets.

Its foundation brands include the elite Amber Lounge, the world's premier Formula 1 after-party, and Mandala Club, Singapore's top private members' club.

The platform recently acquired the 1880 members club brand and now operates across Monaco, Singapore, and Abu Dhabi, with more locations imminent.

The fresh capital will enable five to six additional acquisitions over the next 24 months, strengthening central platform capabilities for global scalability.

"We are seeing a structural, multi-decade shift toward real-world experiences and community," stated Patrick Grove, highlighting the transformative consumer trend.

Looking ahead, ICON1C eyes a potential initial public offering on a global exchange, capitalizing on the evolving luxury landscape from ownership to memorable experiences.

This funding not only accelerates expansion but positions ICON1C as a leader in a high-growth sector ripe for innovation and profitability.