ARK Invest doubles down on Figma after Adobe's failed $20B takeover

ARK Invest has made significant changes to its portfolio, focusing on just three companies last week. Among them was Figma, a private design software firm that once faced a failed acquisition by Adobe. The fund also trimmed positions in several other holdings, including cryptocurrency-related Circle Internet Group.

On March 20, ARK Invest purchased 337,381 shares of Figma, spending over $8.1 million. The move is notable because Figma remains privately held, with no public stock price or performance data. Its last major headline came in late 2023, when Adobe abandoned a $20 billion takeover due to regulatory pushback. This contrasted with Adobe's later success in acquiring Semrush for $1.9 billion in November 2025.

Beyond Figma, Cathie Wood's fund added shares in only two other firms: Arcturus Therapeutics and 10x Genomics. Meanwhile, ARK sold off stakes in multiple companies. It divested 45,998 shares of Circle Internet Group, a crypto-focused business, for roughly $5.9 million from its ARKK and ARKW funds. Other exits included Teradyne, Bullish, Guardant Health, and Butterfly Network.

Figma's private status means its valuation isn't tied to market swings. However, reports once suggested its shares had dropped 83% from a 2025 high—despite the company posting 40% revenue growth in recent earnings. The failed Adobe deal left Figma independent, but ARK's latest investment signals continued confidence in its potential.

ARK's recent trades highlight a shift toward selective bets, with Figma as a standout private holding. The fund's reduced activity in public markets contrasts with its broader strategy of backing high-growth firms. For now, Figma's future remains tied to its private performance rather than stock fluctuations.