SCHEDULE: Kleiner Perkins Affiliate Holds 12% Figma Stake

KPCB XVII Associates, LLC, an affiliate of Kleiner Perkins, reported beneficial ownership of 12.0% of Figma, Inc.'s Class A Common Stock as of September 30, 2025.

Summary

• Kleiner Perkins Caufield & Byers XVII, LLC reported beneficial ownership of 47,639,812 shares, representing 11.6% of Figma, Inc.'s Class A Common Stock.
• KPCB XVII Founders Fund, LLC reported beneficial ownership of 1,559,622 shares, representing 0.4% of Figma, Inc.'s Class A Common Stock.
• KPCB XVII Associates, LLC, as the managing member of KPCB XVII and KPCB XVII Founders Fund, reported beneficial ownership of 49,199,434 shares, representing 12.0% of Figma, Inc.'s Class A Common Stock.
• Kleiner Perkins Select Fund, LLC reported beneficial ownership of 3,086,524 shares, representing 0.8% of Figma, Inc.'s Class A Common Stock.
• Kleiner Perkins Select Founders Fund, LLC reported beneficial ownership of 78,416 shares, representing 0.0% of Figma, Inc.'s Class A Common Stock.
• Kleiner Perkins Select Associates, LLC, as the managing member of Kleiner Perkins Select Fund and Kleiner Perkins Select Founders Fund, reported beneficial ownership of 3,164,940 shares, representing 0.8% of Figma, Inc.'s Class A Common Stock.
• All reporting entities are Delaware limited liability companies and are filing jointly.

Sentiment

Score: 7

Explanation: The filing indicates a significant and consolidated ownership stake by a major venture capital firm, which can be viewed positively for the issuer's stability and investor confidence. It is a factual disclosure of ownership rather than a performance report.

Positives

• A prominent venture capital firm, Kleiner Perkins, through its affiliated entities, maintains a significant beneficial ownership stake in Figma, Inc., with KPCB XVII Associates, LLC holding 12.0% of the Class A Common Stock.
• The substantial institutional backing from a well-known investor like Kleiner Perkins can signal confidence in Figma's long-term prospects and strategic direction.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance regarding Figma, Inc.'s future performance or strategic plans.

Industry Context

Kleiner Perkins is a well-established venture capital firm known for investing in technology and design companies. Their significant stake in Figma, a leading design software company, underscores the continued investor interest and perceived value in the creative software and collaboration tools market. This level of institutional ownership is common for growth-oriented technology companies.

Comparison to Industry Standards

• This filing is a standard Schedule 13G disclosure for institutional investors acquiring significant stakes in public companies.
• A 12.0% beneficial ownership by a single affiliated group (KPCB XVII Associates, LLC) is a substantial position for an institutional investor in a publicly traded company, indicating a high level of conviction.
• The filing itself does not provide specific financial or operational results of Figma, Inc. that would allow for a direct comparison to industry benchmarks or competitors like Adobe or Canva.

Stakeholder Impact

• Shareholders of Figma, Inc. may view the continued significant ownership by Kleiner Perkins entities as a positive signal of institutional confidence in the company's value and future prospects.

Key Dates

Recommendation

The filing reports a significant beneficial ownership stake by Kleiner Perkins entities in Figma, Inc. While this indicates strong institutional confidence, the filing is purely a disclosure of ownership and does not contain financial performance data or strategic updates that would warrant an immediate 'buy' or 'sell' recommendation. For existing investors, the continued substantial backing by a prominent venture capital firm supports a 'hold' position, suggesting stability rather than an immediate catalyst for significant price movement based solely on this report.

Keywords

Figma, Kleiner Perkins, KPCB, Schedule 13G, Beneficial Ownership, Institutional Investor, Class A Common Stock, Venture Capital