Pre-IPO

In October of 2023, some institutions came back to the market, indicated by increased trading volume and average deal size. As indicated in the Caplight graphs below, Pre-IPO price performance continues to rebound and trading volume has picked up since …

Our FNEX Darkpool marketplace quality increased in Q1. Here’s what we’re tracking: More looks at primaries & blocks w/ diligence:  Since March 2024, ~70% of deals matched on Caplight were SPVs, and 77% of those came with diligence materials Caplight Q1 …

FNEX’s pre-IPO brokers, saw a slowdown from Q1-Q2 with most of the activity focused on primary fundraising. AI, Defense and Space continue to be the only verticals experiencing buyer demand.  Caplight’s recent market report shows secondary market activity down 28% …

Earlier this month, AI market-leader OpenAI made headlines with a $6.6B capital raise. Structured as a convertible note, this raise may either show a return to a vibrant venture market like 2020-2021 or signal the peak of a frothy AI …

The rapid expansion of artificial intelligence has positioned data centers as crucial infrastructure, with U.S. companies driving a construction boom in this sector. Since the release of ChatGPT and similar tools, U.S. data center construction spending has surged to nearly …

Market euphoria?  Beware, we may be entering recession. The US has been adding about $1T in national debt every 100 days since February of 2024– crisis spending, supposedly during economic expansion.  What happens when that spending is reduced?  The massive wins …

According to a recent report from Jeffries, global secondary volume was $68 billion, a 58% increase in volume in H1 2024. The increase in volume is due to both an increase in the AUM of secondary funds and an increased …