ARK Invest bets big on private Figma after Adobe deal collapse

ARK Invest made a rare move last week by focusing its stock purchases on just three companies. Among them, design software firm Figma stood out with a major acquisition. The investment came despite Figma's private status and past regulatory setbacks.

Meanwhile, the firm trimmed stakes in several other holdings, including cryptocurrency-related assets and healthcare stocks.

On March 20, ARK bought 337,381 Figma shares for over $8.1 million. The purchase was unusual because Figma remains privately held—its planned $20 billion sale to Adobe collapsed in late 2023 after regulators blocked the deal. Without public trading, no stock price or 2025 peak comparison exists, unlike other Adobe acquisitions such as Semrush, bought for $1.9 billion in cash.

Beyond Figma, ARK's Cathie Wood also added shares in Arcturus Therapeutics and 10x Genomics. But the week saw more reductions than buys. The firm sold off stakes in Teradyne, Bullish, Guardant Health, and Butterfly Network. One notable divestment was 45,998 shares of Circle Internet Group, a crypto holding, worth around $5.9 million from ARKK and ARKW funds. Figma's financials show strong growth, with revenue up 40% in recent reports. Yet its valuation has faced pressure since the failed Adobe deal. Unlike publicly traded peers, its performance remains opaque to investors.

ARK's latest trades highlight a shift toward selective investments. The Figma purchase signals confidence in private tech firms, despite regulatory hurdles. At the same time, the reduction in crypto and healthcare holdings points to a broader portfolio adjustment.