"The majority of our staking revenue comes from our institutional clients, with some earning from retail delegators as well since a lot of our validators are public. We do stake tokens that are on our balance sheet, but it is nowhere near the majority of our revenue," said Clayton Menzel, head of protocols and opportunities at Figment.

https://www.theblockcrypto.com/post/128058/thoma-bravo-leads-110-million-funding-for-figment-at-1-4-billion-valuation