Even while the tech industry is still fanning its face over Figma’s hot stock exchange listing on Thursday, another significant tech exchange listing this week: Ambiq Micro. Wednesday, the chip maker for portable devices saw its shares climb from the original price of $ 24 to over $ 42 on Friday.
There is one thing that both companies have in common: Kleiner Perkins was a great investor.
So it’s been a very good week for the honorable venture company. Just for fun we have calculated the value of Kleiner Perkins’ share in each company.
Kleiner sold 1,346,499 shares of Figma at the IPO of $ 33, revealed Figma and could have sold as many as 2,756,020 shares at the price if the bankers exercised their opportunity to neighbor additional shares. Given how much demand exceeded supply to shares in Figma, we will assume that the bankers will look up the full tranche (or they already have).
Meanwhile, Kleiner still owns 52,364,374 shares in Figma, says the company. The share prices are still swinging wild in heavy trade on day 2, from about $ 110 to over $ 142, but closed day 1 to $ 115, so we use this number.
For Figma: Estimated $ 91 million returned from stock sales and a remaining share worth more than $ 6 billion (2,756.02 shares for $ 33 = $ 90,948,660 and 52,364,374 shares to $ 115 = $ 6,021,903.010).
For perspective, this share in Figma alone is worth 3x of the last mega-driven that the company raised, which was $ 2 billion across two vehicles by 2024. For the other, the Kleiner partner was monitoring his investment, Figma board member Mamoon Hamid.
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Ambiq is a much smaller company and it was a much smaller IPO. It sold a total of 4 million shares and raised $ 96 million for itself in its IPO. Existing shareholders are subject to the classic 180 days lockup before they can sell. Kleiner owns 2,081,831 shares, the company revealed. Shares are still trading for a prize for the IPO prize from Friday and closed Thursday to $ 43.85. So we use that price.
Ambiq Stake: $ 91.3 million (2,081,831 to $ 43.85 = $ 91,288,289).
But wait! There is more. Kleiner also has a good month and possibly year (Kleiner has rejected comment on this story).
The company allegedly scored a decent return earlier this month as part of Google’s agreement to licensing tech from Windsurf and hiring its top talent. We do not know exactly how much of the $ 1.1 billion VCs obtained from the Windsurf Agreement that specifically went to Kleiner. But Techcrunch’s Marina Temkin reports that the total return was approx. 3x the original financing.
And at least one Kleiner-supported company is waiting in the wings for stock exchange listing. Fleet Tracking Startup Motive Technologies raised $ 150 million led by Kleiner Perkins, where Ilya Fushman joined the board, announced the company this week. Bloomberg reported in December that Motive is ready for a stock exchange listing, potentially still in 2025.