ICON1C Raises S$10 Million to Accelerate Global Expansion of Premium Experience Platform
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Singapore, 26 February 2026 — ICON1C has raised S$10 million from its stakeholders and members to accelerate expansion and acquisitions across the global premium experience sector.
Founded in early 2025, ICON1C is a profitable investment and operating platform focused on building businesses in live events, hospitality, private members' clubs, wellness, and experiential lifestyle. Its portfolio includes Mandala Club, Amber Lounge, and the recently acquired members' club brand 1880.
"We are seeing a structural, multi-decade shift in consumer behaviour," said Patrick Grove, Co-Founder and Executive Chairman of ICON1C. "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."
"Luxury has evolved from what you own to what you experience—and who you experience it with," said Ben Jones, Co-Founder of ICON1C and Founder of Mandala Group. "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."
Community-Led Capital Raise
The company said the round was raised from approximately 20 long-standing clients and stakeholders rather than institutional investors.
"We didn't raise capital out of necessity," Grove added. "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."
Expansion and IPO Ambitions
ICON1C operates a platform model focused on profitability, selective mergers and acquisitions, and long-term capital growth. The group expects to complete five to six additional acquisitions over the next 24 months and is working toward a potential IPO on a global exchange in the medium term.
Grove previously took several companies public across global exchanges, including iProperty, iCarAsia, Frontier Digital Ventures, and Catcha Digital Berhad.
ICON1C partners with founders of cash-generative experience businesses seeking operational support and access to a broader global network while maintaining brand identity.
Portfolio and Global Footprint
Amber Lounge operates in cities including Monaco, Singapore, Abu Dhabi, and Las Vegas, positioning itself at the intersection of Formula 1 and hospitality. Over the years, its events have been attended by figures such as Rihanna, Leonardo DiCaprio, Lewis Hamilton, Max Verstappen, Lando Norris, Charles Leclerc, and George Russell. During the 2025 Formula 1 season finale in Abu Dhabi, it hosted championship celebrations for Norris and his team.
Mandala Club, based in Singapore, expanded its flagship premises by 9,000 square feet in 2025 and is set to launch the 25,000-square-foot Mandala Racquet Club in Sentosa in March 2026. Its recent programming has included appearances by Princess Beatrice, journalist Tom Wright, longevity researcher David Sinclair, curator Rajiv Menon, and performances by Kylie Minogue, NE-YO, and Jay Sean.
The group currently operates across Monaco, Singapore, and Abu Dhabi, with further geographies and brands expected to be announced.
Proceeds from the S$10 million raise will be used to pursue targeted acquisitions of profitable businesses in the premium experience sector, strengthen the group's central platform capabilities, and expand its flagship brands into new international markets.
ICON1C is backed by Catcha Group and aims to consolidate brands across members' clubs, hospitality, luxury experiential agencies, sporting events, and wellness.
