SCHEDULE: ICONIQ Entities Disclose 5.2% Stake in Figma Class A Stock

A group of ICONIQ-affiliated investment entities and individuals have disclosed beneficial ownership of 5.2% of Figma, Inc.'s Class A Common Stock.

Summary

• ICONIQ Strategic Partners VII, L.P. directly owns 1,002,478 shares of Class A Common Stock, representing approximately 0.2% of the outstanding class.
• ICONIQ Strategic Partners VII-B, L.P. directly owns 2,495,855 shares of Class A Common Stock, representing approximately 0.6% of the outstanding class.
• ICONIQ Strategic Partners VII GP, L.P. is deemed to beneficially own 3,498,333 shares (0.9%) through its role as general partner of the ICONIQ VII Funds.
• ICONIQ Strategic Partners VII TT GP, Ltd. is deemed to beneficially own 3,498,333 shares (0.9%) through its role as general partner of ICONIQ VII GP.
• ICQ Investments, LP (Series IX) directly owns 14,240,145 shares of Class A Common Stock, representing approximately 3.5% of the outstanding class.
• ICQ Investments, LP (Series XXII) directly owns 3,639,570 shares of Class A Common Stock, representing approximately 0.9% of the outstanding class.
• ICQ Management, LLC is deemed to beneficially own 17,879,715 shares (4.4%) through its role as general partner of the ICQ Funds.
• Divesh Makan is deemed to beneficially own an aggregate of 21,378,048 shares (5.2%) through the ICONIQ VII Funds and the ICQ Funds.
• William J.G. Griffith is deemed to beneficially own 3,498,333 shares (0.9%) through the ICONIQ VII Funds.
• Matthew Jacobson is deemed to beneficially own 3,498,333 shares (0.9%) through the ICONIQ VII Funds.
• The reported percentages are based on 410,091,963 shares of Figma, Inc. Class A Common Stock outstanding as of August 29, 2025.

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of beneficial ownership, indicating a passive investment stake. It does not contain information that would inherently suggest positive or negative sentiment regarding the company's performance or prospects.

Future Outlook

NA

Industry Context

This filing represents a standard disclosure by institutional investors and their principals when their beneficial ownership of a company's stock exceeds 5%. It provides transparency regarding significant passive equity stakes in publicly traded companies like Figma, Inc.

Related Party Transactions

• The filing details the complex beneficial ownership structure where various ICONIQ funds and their general partners, including Divesh Makan, William J.G. Griffith, and Matthew Jacobson, are interconnected. Makan is the sole managing member of ICQ Management, LLC, and along with Griffith and Jacobson, is a sole equity holder of ICONIQ Strategic Partners VII TT GP, Ltd., demonstrating a web of related entities and individuals controlling the reported shares.

Stakeholder Impact

• Provides transparency to shareholders and the market regarding significant institutional ownership in Figma, Inc.
• Confirms the continued investment interest of ICONIQ-affiliated entities in the company.

Key Dates

Keywords

Figma Inc., Class A Common Stock, Beneficial Ownership, Schedule 13G, ICONIQ Strategic Partners, ICQ Investments, Divesh Makan, Institutional Investor, SEC Filing, Equity Stake