In a recent interview with TechCrunch, Will Griffith, a key figure at Iconiq Capital, shared exclusive details about how the firm celebrated the highly anticipated Figma IPO. The design software company, known for its innovative collaborative tools, went public in one of 2025’s most notable market debuts, achieving a staggering valuation of $19.3 billion and raising $1.2 billion.
Griffith described the celebratory atmosphere at Iconiq, highlighting the firm's pride in being an early investor in Figma. The IPO marked a significant milestone for both the company and its backers, with Iconiq hosting internal events to honor the achievement. He emphasized the emotional and financial payoff of seeing a portfolio company reach such heights.
Addressing the decision by some investors to sell shares during the IPO, Griffith provided clarity on the motivations behind these moves. He noted that selling was often a strategic choice, driven by portfolio management needs and the desire to lock in gains after years of investment. This was not a reflection of diminished confidence in Figma’s future, but rather a practical financial decision.
Griffith also touched on the broader implications of Figma’s successful IPO for the tech industry. He suggested that this debut could signal a recovery in the IPO market, inspiring other high-growth software companies to follow suit. The auction-like structure of Figma’s listing, designed to maximize demand, was a point of particular interest.
The Iconiq partner expressed optimism about Figma’s trajectory post-IPO, citing its strong user base of over 13 million monthly active users and impressive revenue growth. Griffith believes the company is well-positioned to innovate further in the design and collaboration space, potentially reshaping industry standards.
As the dust settles on this landmark event, industry watchers are keenly observing how Figma’s public status will influence its strategies and competition. Griffith’s insights underscore the balance of celebration and calculated decision-making that defines major investment milestones like this one.
Alfred Lee
