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Kleiner Perkins Rides High After Figma and Ambiq IPOs, with More Wins on the Horizon
August 1, 2025
It’s been a banner week for Kleiner Perkins. While Figma’s sizzling IPO on Thursday drew widespread attention, another strong debut happened quietly earlier in the week: chipmaker Ambiq Micro. Both companies had one powerful force behind them—Kleiner Perkins.
Ambiq, a smaller player focused on chips for wearables, debuted at $24 per share and surged to over $42 by Friday. The firm raised $96 million in its IPO, and Kleiner Perkins’ 2,081,831-share stake is now worth over $91 million, based on Ambiq’s Thursday close of $43.85.
Figma, on the other hand, delivered a windfall. Kleiner sold up to 2.76 million shares at the IPO price of $33, generating about $91 million. But the bigger headline is the firm’s remaining stake: 52.36 million shares, worth over $6 billion based on Thursday’s $115 closing price. That single investment eclipses the $2 billion the firm raised across its last two funds in 2024—threefold.
Mamoon Hamid, the Kleiner partner on Figma’s board, steered that investment. And he may soon have another win under his belt: Motive Technologies, a fleet tracking startup backed by Kleiner, raised $150 million recently and is reportedly prepping for an IPO later this year.
Adding to the momentum, Kleiner is said to have participated in a successful exit involving Google’s acquisition of Windsurf tech and talent earlier this month. While exact figures weren’t disclosed, investors reportedly saw a 3x return on the original investment.
With multiple exits in play and billions in gains realized, 2025 is shaping up to be a record-setting year for one of Silicon Valley’s most storied venture firms.
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