Figma, Inc. received a Schedule 13G filing disclosing that Sequoia Capital-affiliated funds collectively beneficially own 25,261,320 shares of Figma Class A common stock, representing 6.1% of the outstanding class. This percentage is calculated based on 415,909,379 shares of Class A common stock outstanding as of October 31, 2025, as reported by Figma.
The largest holder is Sequoia Capital U.S. Growth Fund VIII, L.P. with 22,152,394 shares, while SC US/E Expansion Fund I, SC U.S. Growth IX Management, and SC US/E Growth X Management hold the balance. All entities report zero sole voting and dispositive power and instead report shared voting and dispositive power over their positions.
Control over these holdings is structured through a chain of Cayman Islands entities, with SC US (TTGP), Ltd. identified as the general partner of several Sequoia management entities and reporting beneficial ownership of the full 25,261,320 shares.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
FIGMA, INC.
(Name of Issuer)
Class A Common Stock, par value $0.00001 per share
(Title of Class of Securities)
316841105
(CUSIP Number)
09/30/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
316841105
1
Names of Reporting Persons
SEQUOIA CAPITAL U.S. GROWTH FUND VIII, L.P. ("SEQUOIA CAPITAL U.S. GROWTH FUND VIII")
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
22,152,394.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
22,152,394.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
22,152,394.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.3 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person:
Based on a total of 415,909,379 shares of Class A Common Stock outstanding as of October 31, 2025 as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 5, 2025.
SCHEDULE 13G
CUSIP No.
316841105
1
Names of Reporting Persons
SEQUOIA CAPITAL US/E EXPANSION FUND I, L.P. ("SC US/E EXPANSION FUND I")
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
60,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
60,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
60,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.1 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person:
Based on a total of 415,909,379 shares of Class A Common Stock outstanding as of October 31, 2025 as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 5, 2025.
SCHEDULE 13G
CUSIP No.
316841105
1
Names of Reporting Persons
SC U.S. GROWTH IX MANAGEMENT, L.P. ("SC U.S. GROWTH IX MANAGEMENT")
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,077,911.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,077,911.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,077,911.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.3 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person:
Based on a total of 415,909,379 shares of Class A Common Stock outstanding as of October 31, 2025 as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 5, 2025.
SCHEDULE 13G
CUSIP No.
316841105
1
Names of Reporting Persons
SC US/E GROWTH FUND X MANAGEMENT, L.P. ("SC US/E GROWTH X MANAGEMENT")
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,971,015.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,971,015.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,971,015.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.5 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person:
Based on a total of 415,909,379 shares of Class A Common Stock outstanding as of October 31, 2025 as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 5, 2025.
SCHEDULE 13G
CUSIP No.
316841105
1
Names of Reporting Persons
SC US/E EXPANSION FUND I MANAGEMENT, L.P. ("SC US/E EXPANSION FUND I MGMT")
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
60,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
60,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
60,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.1 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person:
60,000 shares, of which 60,000 shares are directly owned by SC US/E EXPANSION FUND I. SC US/E EXPANSION FUND I MGMT is the general partner of SC US/E EXPANSION FUND I.
Based on a total of 415,909,379 shares of Class A Common Stock outstanding as of October 31, 2025 as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 5, 2025.
SCHEDULE 13G
CUSIP No.
316841105
1
Names of Reporting Persons
SC U.S. Growth VIII Management, L.P. ("SC U.S. GROWTH VIII MANAGEMENT")
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
22,152,394.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
22,152,394.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
22,152,394.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.3 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person:
22,152,394 shares, of which 22,152,394 shares are directly owned by SEQUOIA CAPITAL U.S. GROWTH FUND VIII. SC U.S. GROWTH VIII MANAGEMENT is the general partner of SEQUOIA CAPITAL U.S. GROWTH FUND VIII.
Based on a total of 415,909,379 shares of Class A Common Stock outstanding as of October 31, 2025 as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 5, 2025.
SCHEDULE 13G
CUSIP No.
316841105
1
Names of Reporting Persons
SC US (TTGP), LTD. ("SC US (TTGP)")
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
25,261,320.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
25,261,320.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
25,261,320.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.1 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person:
25,261,320 shares, of which 22,152,394 shares are directly owned by SEQUOIA CAPITAL U.S. GROWTH FUND VIII, 60,000 shares are directly owned by SC US/E EXPANSION FUND I, 1,077,911 shares are directly owned by SC U.S. GROWTH IX MANAGEMENT, and 1,971,015 shares are directly owned by SC US/E GROWTH X MANAGEMENT. The general partner of SEQUOIA CAPITAL U.S. GROWTH FUND VIII is SC U.S. GROWTH VIII MANAGEMENT. The general partner of SC US/E EXPANSION FUND I is SC US/E EXPANSION FUND I MGMT. The General Partner of SC U.S. GROWTH IX MANAGEMENT, SC US/E GROWTH X MANAGEMENT, SC US/E EXPANSION FUND I MGMT, and SC U.S. GROWTH VIII MANAGEMENT is SC US (TTGP).
Based on a total of 415,909,379 shares of Class A Common Stock outstanding as of October 31, 2025 as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 5, 2025.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
FIGMA, INC.
(b)
Address of issuer's principal executive offices:
760 Market Street, Floor 10, San Francisco, California
Item 2.
(a)
Name of person filing:
Sequoia Capital US/E Expansion Fund I, L.P.
SC U.S. Growth IX Management, L.P.
SC US/E Growth Fund X Management, L.P.
SC US (TTGP), Ltd.
SC US/E Expansion Fund I Management, L.P.
SC U.S. Growth VIII Management, L.P.
Sequoia Capital U.S. Growth Fund VIII, L.P.
The general partner of SEQUOIA CAPITAL U.S. GROWTH FUND VIII is SC U.S. GROWTH VIII MANAGEMENT. The general partner of SC US/E EXPANSION FUND I is SC US/E EXP I MGMT. The General Partner of SC U.S. GROWTH IX MANAGEMENT, SC US/E GROWTH X MANAGEMENT, SC US/E EXP I MGMT, SC U.S. GROWTH VIII MANAGEMENT is SC US (TTGP).
(b)
Address or principal business office or, if none, residence:
2800 Sand Hill Road, Suite 101, Menlo Park, CA 94025
(c)
Citizenship:
Sequoia Capital U.S. Growth Fund VIII, L.P., Sequoia Capital US/E Expansion Fund I, L.P., SC U.S. Growth IX Management, L.P., SC US/E Growth Fund X Management, L.P., SC US (TTGP), Ltd., SC US/E Expansion Fund I Management, L.P., and SC U.S. Growth VIII Management, L.P. are each organized under the laws of the Cayman Islands.
(d)
Title of class of securities:
Class A Common Stock, par value $0.00001 per share
(e)
CUSIP No.:
316841105
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
25,261,320 shares, of which 22,152,394 shares are directly owned by SEQUOIA CAPITAL U.S. GROWTH FUND VIII, 60,000 shares are directly owned by SC US/E EXPANSION FUND I, 1,077,911 shares are directly owned by SC U.S. GROWTH IX MANAGEMENT, and 1,971,015 shares are directly owned by SC US/E GROWTH X MANAGEMENT. The general partner of SEQUOIA CAPITAL U.S. GROWTH FUND VIII is SC U.S. GROWTH VIII MANAGEMENT. The general partner of SC US/E EXPANSION FUND I is SC US/E EXPANSION FUND I MGMT. The General Partner of SC U.S. GROWTH IX MANAGEMENT, SC US/E GROWTH X MANAGEMENT, SC US/E EXPANSION FUND I MGMT, SC U.S. GROWTH VIII MANAGEMENT is SC US (TTGP).
(b)
Percent of class:
6.1%. Based on a total of 415,909,379 shares of Class A Common Stock outstanding as of October 31, 2025 as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 5, 2025.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
SEQUOIA CAPITAL U.S. GROWTH FUND VIII: 22,152,394
SC US/E EXPANSION FUND I: 60,000
SC U.S. GROWTH IX MANAGEMENT: 1,077,911
SC US/E GROWTH X MANAGEMENT: 1,971,015
SC US/E EXPANSION FUND I MGMT: 60,000 shares, of which 60,000 shares are directly owned by SC US/E EXPANSION FUND I. SC US/E EXPANSION FUND I MGMT is the general partner of SC US/E EXPANSION FUND I.
SC U.S. GROWTH VIII MANAGEMENT: 25,261,320 shares, of which 25,261,320 shares are directly owned by SEQUOIA CAPITAL U.S. GROWTH FUND VIII. SC U.S. GROWTH VIII MANAGEMENT is the general partner of SEQUOIA CAPITAL U.S. GROWTH FUND VIII.
SC US (TTGP): 25,261,320 shares, of which 22,152,394 shares are directly owned by SEQUOIA CAPITAL U.S. GROWTH FUND VIII, 60,000 shares are directly owned by SC US/E EXPANSION FUND I, 1,077,911 shares are directly owned by SC U.S. GROWTH IX MANAGEMENT, and 1,971,015 shares are directly owned by SC US/E GROWTH X MANAGEMENT. The general partner of SEQUOIA CAPITAL U.S. GROWTH FUND VIII is SC U.S. GROWTH VIII MANAGEMENT. The general partner of SC US/E EXPANSION FUND I is SC US/E EXPANSION FUND I MGMT. The General Partner of SC U.S. GROWTH IX MANAGEMENT, SC US/E GROWTH X MANAGEMENT, SC US/E EXPANSION FUND I MGMT, and SC U.S. GROWTH VIII MANAGEMENT is SC US (TTGP).
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
SEQUOIA CAPITAL U.S. GROWTH FUND VIII: 22,152,394
SC US/E EXPANSION FUND I: 60,000
SC U.S. GROWTH IX MANAGEMENT: 1,077,911
SC US/E GROWTH X MANAGEMENT: 1,971,015
SC US/E EXPANSION FUND I MGMT: 60,000 shares, of which 60,000 shares are directly owned by SC US/E EXPANSION FUND I. SC US/E EXPANSION FUND I MGMT is the general partner of SC US/E EXPANSION FUND I.
SC U.S. GROWTH VIII MANAGEMENT: 25,261,320 shares, of which 25,261,320 shares are directly owned by SEQUOIA CAPITAL U.S. GROWTH FUND VIII. SC U.S. GROWTH VIII MANAGEMENT is the general partner of SEQUOIA CAPITAL U.S. GROWTH FUND VIII.
SC US (TTGP): 25,261,320 shares, of which 22,152,394 shares are directly owned by SEQUOIA CAPITAL U.S. GROWTH FUND VIII, 60,000 shares are directly owned by SC US/E EXPANSION FUND I, 1,077,911 shares are directly owned by SC U.S. GROWTH IX MANAGEMENT, and 1,971,015 shares are directly owned by SC US/E GROWTH X MANAGEMENT. The general partner of SEQUOIA CAPITAL U.S. GROWTH FUND VIII is SC U.S. GROWTH VIII MANAGEMENT. The general partner of SC US/E EXPANSION FUND I is SC US/E EXPANSION FUND I MGMT. The General Partner of SC U.S. GROWTH IX MANAGEMENT, SC US/E GROWTH X MANAGEMENT, SC US/E EXPANSION FUND I MGMT, and SC U.S. GROWTH VIII MANAGEMENT is SC US (TTGP).
Item 5.
Ownership of 5 Percent or Less of a Class.
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
SEQUOIA CAPITAL U.S. GROWTH FUND VIII, L.P. ("SEQUOIA CAPITAL U.S. GROWTH FUND VIII")
Signature:
/s/ Jung Yeon Son
Name/Title:
Jung Yeon Son, Authorized Signatory
Date:
11/13/2025
SEQUOIA CAPITAL US/E EXPANSION FUND I, L.P. ("SC US/E EXPANSION FUND I")
Signature:
/s/ Jung Yeon Son
Name/Title:
Jung Yeon Son, Authorized Signatory
Date:
11/13/2025
SC U.S. GROWTH IX MANAGEMENT, L.P. ("SC U.S. GROWTH IX MANAGEMENT")
Signature:
/s/ Jung Yeon Son
Name/Title:
Jung Yeon Son, Authorized Signatory
Date:
11/13/2025
SC US/E GROWTH FUND X MANAGEMENT, L.P. ("SC US/E GROWTH X MANAGEMENT")
Signature:
/s/ Jung Yeon Son
Name/Title:
Jung Yeon Son, Authorized Signatory
Date:
11/13/2025
SC US/E EXPANSION FUND I MANAGEMENT, L.P. ("SC US/E EXPANSION FUND I MGMT")
Signature:
/s/ Jung Yeon Son
Name/Title:
Jung Yeon Son, Authorized Signatory
Date:
11/13/2025
SC U.S. Growth VIII Management, L.P. ("SC U.S. GROWTH VIII MANAGEMENT")
How much of Figma (FIG) stock do Sequoia Capital entities beneficially own?
Sequoia Capital-affiliated entities report beneficial ownership of 25,261,320 shares of Figma Class A common stock, representing 6.1% of the outstanding class based on 415,909,379 shares outstanding as of October 31, 2025.
Which Sequoia fund holds the largest position in Figma (FIG)?
The largest position is held by Sequoia Capital U.S. Growth Fund VIII, L.P., which directly owns 22,152,394 shares of Figma Class A common stock.
Do Sequoia Capital entities have sole or shared voting power over their Figma shares?
The filing reports no sole voting or dispositive power. All reported Figma shares are subject to shared voting and shared dispositive power by the Sequoia entities listed.
What role does SC US (TTGP), Ltd. play in Sequoia’s Figma (FIG) holdings?
SC US (TTGP), Ltd. is identified as the general partner of several Sequoia management entities and reports beneficial ownership of 25,261,320 shares, aggregating positions held by the various Sequoia funds.
How is the 6.1% ownership figure for Figma (FIG) calculated in the Schedule 13G?
The 6.1% ownership is based on 415,909,379 shares of Figma Class A common stock outstanding as of October 31, 2025, as disclosed in Figma’s Quarterly Report on Form 10-Q.
Where are the Sequoia entities that filed the Figma (FIG) Schedule 13G organized?
Sequoia Capital U.S. Growth Fund VIII, L.P., Sequoia Capital US/E Expansion Fund I, L.P., and the related management and holding entities are each organized under the laws of the Cayman Islands.
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