This paper presents a study on the development of a metal-diamond hybrid composite and heatsink structure for use in electro-thermal applications, refractory composites, and bio/tribological applications. The structure is fabricated using both selective laser melting (SLM) and spark plasma sintering (SPS) techniques, with the aim of achieving better positioning, consolidation, densification, and locating of diamond particles in the lattice and bulk of the structure. The benefits and drawbacks of both combined and individual fabrication methods using hard materials such as diamond particles, are illustrated in this study of SLM and SPS techniques. The paper contributes to the ongoing discussion about multi-material additive manufacturing (MMAM), which has the potential to revolutionize the design space for complex geometries and provide functionally graded materials (FGM) for final parts.