Danny Rimer, partner at Index Ventures, led Figma’s seed round in 2013, when the company’s stock was valued at just 9 cents per share. He said he has long been impressed by co-founder Dylan Field’s product vision, and agreed with Field’s thesis that design is “the most important determinant” of many consumer-facing tech businesses.

Shares of Figma slumped 23% on profit taking on Monday, as euphoria over the design software firm waned days after its blockbuster initial public offering.

Figma sets terms in its upcoming initial public offering, and co-founder Dylan Field could net more than $60 million from selling his personal shares.