PitchBook’s recently published Q3 2025 Analyst Note shows how the market has shifted since the 2021 IPO boom. Through June 30, 2025, only 18 US companies completed IPOs, pacing the year for the lowest total in a decade. Within that small group, 10 unicorns went public, including seven tech companies. Median IPO valuations this year
No Exit: Other Reasons to Stay Private
In No Exit, a recent paper, authors Brian J. Broughman, Matthew T. Wansley, and Samuel N. Weistein, describe how increased antitrust restrictions caused a decline in M&A exits by startups. However, instead of this leading to an increase in IPOs, companies remained private and used alternatives to access capital and liquidity.
Source: Broughman, Wansley
FAQs – What US clients need to know about PISCES – a new secondary private stock market in the UK
- A key challenge for private companies is that, at early stages in their growth, there are no standardised ways for shareholders to realise their gains (e.g., where their shares have increased in value) or to
Founder Friendly Funding: The State of the Venture Markets
Based on data in Carta’s recently published State of the Markets report, the venture markets have experienced a slight uptick in number of deals and in dollars raised quarter-over-quarter. Companies on Carta’s platform completed 4% more deals and raised 12% more capital during the second quarter of 2024 compared to the first quarter. During the
Crowdfunding Report Shows Increasing Reliance on Regulation CF Deals & Disparities in Participation by Women & Minorities
Introduced under Title III of the JOBS Act, Regulation Crowdfunding (“Regulation CF”) was promulgated to allow startups and emerging companies to raise capital from a wider pool of investors through equity crowdfunding platforms. Regulation Crowdfunding allows non-accredited investors to invest through these platforms. Currently, a company may raise up to $5 million in a 12-month
Report on Small Business Forum
- Expand the accredited investor definition to achieve greater diversity among startup investors and entrepreneurs,
- Expand the accredited investor definition
Introducing Springboard from Mayer Brown
Springboard is Mayer Brown’s new resource where you’ll find insights and tools tailored for emerging companies and their investors—from initial structuring, capital-raising alternatives and employee benefits information to IP and cyber updates.
Please visit springboard.mayerbrown.com/
Silicon Valley Bank Developments – Q&A for Startups and VCs
The receivership of Silicon Valley Bank on March 10th has raised questions and concerns. A number of Mayer Brown partners have prepared this Q&A to provide some insight.
Global VC Funding Trends in 2022 Q3
The CB Insights’ State of Venture Report for the third quarter of 2022 notes that global venture funding declined to $74.5 billion in the third quarter, down 58% from the funding peak in the fourth quarter of 2021. This represents a quarter-over-quarter contraction of 34%, the largest quarterly percentage drop in a decade, with the
Hot Topics in Equity Compensation and Tax Issues for Emerging Companies
November 9, 2022 Hybrid Event
2:00 pm –3:00 pm EST
Join Mayer Brown partners, Ryan Liebl and Remmelt Reigersman, for a timely discussion on the most frequently asked questions and hot topics related to equity compensation and tax matters affecting emerging companies and their investors, including the following:
- Advantages and disadvantages of different types of