Adobe’s planned $20 billion purchase of design tool developer Figma is the third-biggest acquisition of a subscription software firm in history, and the largest deal for a private tech company at the time of the announcement.
It’s also a lucrative deal for a slew of well-known venture capital firms, including Index Ventures, Greylock Partners, Kleiner Perkins and Sequoia Capital, which led the first four funding rounds in Figma starting a decade ago. Three of those firms ended up with at least a 10% stake in Figma at the time of the sale.
