Prominent venture capital firm Kleiner Perkins filed a Schedule 13G with the U.S. Securities and Exchange Commission on November 4, 2025, disclosing a 12.0% stake in Figma, Inc.. The filing reveals that various entities affiliated with Kleiner Perkins hold a beneficial ownership of 49,199,434 shares of Figma's Class A common stock. This disclosure of a significant passive investment by a well-respected Silicon Valley investor suggests a strong conviction in Figma's long-term growth trajectory and market position. The filing comes just a day before Figma is scheduled to announce its third-quarter financial results on November 5, 2025. There was no immediate market reaction analysis available regarding the filing. The news follows a period of stock price volatility and recent analyst discussions about the company's high valuation despite strong growth and new AI-powered product launches.