Fig was founded in August 2015 by Justin Bailey (formerly, COO of Double Fine Productions),[3] Bob Ippolito, and Freeman White.

The advisory board was composed of executives from across the video game industry with previous experience in crowdfunding and investing in video game projects: Aaron Isaksen of the Indie Fund, Brian Fargo of inXile Entertainment, Feargus Urquhart of Obsidian Entertainment, and Tim Schafer of Double Fine Productions.

Alex Rigopulos, from Harmonix, and Cliff Bleszinski, formerly of Epic Games and Boss Key Productions, and Randy Pitchford of Gearbox Software have since joined the advisory board of Fig.

[12] Fig is offered as an alternative means for funding video game development from traditional crowdfunding sites like Kickstarter.

[7] Due to the Jumpstart Our Business Startups Act which changed how the Security and Exchange Commission (SEC) treated crowdfunding, Fig will allow anyone to invest at a minimum of $1,000 into future campaigns starting in December 2015.

[3] Fig's approach is designed to support only one or two campaigns at a time, in contrast to the volume that are offered by Kickstarter or other crowdfunding services.

[18] Fig will not require projects to accept investment support as long they offer typical backing options.

[18] As part of their support, Fargo, Urquhart, and Schafer have said that all future games developed by their respective studios will use Fig-based funding.