Tech Initial Public Offerings (IPOs) made a strong showing in June, with five offerings in the US, up from a monthly average of two since January, according to data from CB Insights. The increase is welcome news for Silicon Valley venture capital firms, which have been waiting for this moment for over three years.
The IPO market slowed down significantly after soaring inflation and rising interest rates in early 2022, making it challenging for tech startups to go public. However, the first half of 2025 has shown signs of momentum, with Circle’s successful debut on the New York Stock Exchange being a highlight. The crypto company more than doubled in value, reaching a market cap of $42 billion.
Other notable IPOs include CoreWeave, an artificial infrastructure provider that saw its stock price shoot up 170% in May and another 47% in June. Figma, a design software vendor, is set to profit from its upcoming IPO after filing its public prospectus on Tuesday.
Venture capitalists are cautiously optimistic about the trend, with many firms preparing companies for the next wave of public offerings. Secondary sales, which involve selling private shares to new investors, are also on the rise, providing liquidity options for early employees and investors.
While some potential roadblocks remain, such as tariffs and geopolitical uncertainty, recent IPO trends are generally encouraging. Mike Bellin, head of PwC’s US IPO practice, anticipates a diversity of IPOs across sectors in the second half of the year, including pharma and fintech.
The increased activity is welcome news for investors, who had been waiting for signs that the market was ready to open up. With more companies showing financial metrics that could support public offerings, venture capitalists are hopeful that the path forward will become clearer in the coming months.
Source: https://www.cnbc.com/2025/07/03/ipo-market-boost-from-circle-500percent-surge-vcs-say-drought-may-be-ending.html