Kleiner Perkins is having a very good week

Venture capital firm Kleiner Perkins is enjoying a remarkably successful week, marked by significant financial gains from two high-profile technology initial public offerings (IPOs): Figma and Ambiq Micro.

The week’s excitement was amplified by Figma’s much-anticipated IPO on Thursday. The design software giant debuted with an initial price of $33 per share. Kleiner Perkins, a major early investor, sold 1,346,499 shares at this price, potentially offloading up to 2,756,020 shares if underwriters exercised their options fully. The firm retains a substantial stake of 52,364,374 shares. By the end of its first day of trading, Figma’s stock closed at $115. This positions Kleiner Perkins to have realized an estimated $91 million from its share sales and holds a remaining stake valued at over $6 billion. For perspective, this stake in Figma alone is worth more than three times the firm’s last major fundraises of $2 billion across two vehicles in 2024. Mamoon Hamid, the Kleiner Perkins partner who oversaw its investment, also served as a board member for Figma.

Adding to the firm’s triumphs, chip maker Ambiq Micro, specializing in technology for wearable devices, also completed its IPO this week. Shares climbed steadily from an initial price of $24, reaching over $42 by Friday. Ambiq Micro raised $96 million in its IPO by selling 4 million shares. Kleiner Perkins holds 2,081,831 shares in Ambiq, which are subject to a standard 180-day lockup period. Based on Thursday’s closing price of $43.85, this stake is valued at approximately $91.3 million.

Kleiner Perkins’ positive momentum extends beyond these IPOs. The firm reportedly secured a substantial return from Google’s recent deal to license technology and acquire talent from Windsurf. While the exact allocation to Kleiner Perkins from the estimated $1.1 billion VCs received is undisclosed, reports indicate the overall return was roughly three times the original investment. Furthermore, fleet tracking startup Motive Technologies, which raised $150 million led by Kleiner Perkins, is reportedly preparing for its own IPO, potentially in 2025, following Bloomberg’s December report. The firm declined to comment on these developments.