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The IPO Window Reopens:
We finally saw the IPO window crack open in Q3 2016, as proceeds from technology M&A are leaving investors flush with cash to reinvest and driving demand for IPOs and follow-on offerings.
In this third-quarter update on State of the Markets, my team analyzed investment and exit data to identify key trends impacting clients:
1. The number of IPOs exceeded private IPOs for the first time since Q2 2013, as crossover investors’ interest in large pre-IPO financings dropped off.
2. In the U.S., the pace of unicorn exits in Q3 exceeded new entrants.
3. After plummeting in the first half of 2016, values of publicly traded unicorns showed signs of recovery.
Learn more by reading the new State of the Markets report. As with any review of the markets, conditions can turn quickly. We are, however, confident that the fundamentals driving innovation will be strong through the end of 2016.