The Week of Tech IPOs: Figma and Ambiq Micro
As the tech industry continues to buzz about Figma’s successful IPO, another notable tech company, Ambiq Micro, made its debut on the stock market this week. Ambiq Micro, a chip maker specializing in wearable devices, saw its shares surge from an initial price of $24 to over $42 by the end of the week.
Interestingly, both Figma and Ambiq Micro share a common investor: Kleiner Perkins, a prominent venture capital firm. This week has undoubtedly been a lucrative one for Kleiner Perkins, with substantial gains from both companies.
Let’s delve into the specifics of Kleiner Perkins’ investments in Figma and Ambiq Micro:
Investment in Figma
Kleiner Perkins sold 1,346,499 shares of Figma at the IPO price of $33 per share, with the potential to sell up to 2,756,020 shares if additional shares were exercised by bankers. The demand for Figma’s shares far exceeded supply, leading us to assume that the full tranche was snapped up.
Currently, Kleiner Perkins still holds 52,364,374 shares of Figma. With share prices fluctuating between $110 and over $142, we’ll consider the closing price of $115 for our calculations.
For Figma, Kleiner Perkins realized an estimated $91 million from share sales, with a remaining stake valued at over $6 billion. This stake alone surpasses the firm’s last mega-funds raised in 2024, totaling $2 billion across two vehicles. Mamoon Hamid, a Kleiner Perkins partner and Figma board member, oversaw the investment in Figma.
Investment in Ambiq Micro
Ambiq Micro, a smaller company compared to Figma, conducted a modest IPO, selling 4 million shares and raising $96 million. Kleiner Perkins holds 2,081,831 shares in Ambiq Micro, with shares trading at $43.85 as of Friday.
Kleiner Perkins’ stake in Ambiq Micro amounts to $91.3 million (2,081,831 shares at $43.85). The firm’s successful investments in both Figma and Ambiq Micro reflect a profitable week for Kleiner Perkins.
Additional Successes for Kleiner Perkins
Aside from Figma and Ambiq Micro, Kleiner Perkins has seen further successes in the tech industry. The firm reportedly enjoyed a significant return from Google’s deal to license technology from Windsurf and hire its top talent. Additionally, Fleet tracking startup Motive Technologies, backed by Kleiner Perkins, raised $150 million this week, signaling potential for an upcoming IPO in 2025.
Kleiner Perkins’ impressive track record in the tech sector underscores its prowess as a leading venture capital firm, with successful investments contributing to its continued growth and success.
