Findell Capital Management publicly urged Figma’s board to implement significant changes to maximize shareholder value. The firm called for cost reductions to align with industry peers and a streamlined product portfolio. Findell also requested a comprehensive review of Figma’s board and governance.
The governance review stems from concerns regarding Figma’s relationship with the AI company Anthropic. Anthropic’s Chief Product Officer resigned from Figma’s board on April 14, 2026. Anthropic launched a competing product just three days after this resignation.
Findell is calling for an independent investigation into whether Anthropic benefited from Figma’s confidential information. Two remaining Figma board members currently serve as investors in Anthropic.
Findell identified research and development spending and stock-based compensation as primary areas for cost reduction. The investor believes these measures will clarify Figma’s market value through a sharpened product focus.