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% vs. the same quarter in 2023. However, the report has found that “cumulative pre-IPO volume YTD is still outpacing 2023.”
Recent performance of IPO’s in the technology space may lead more listings. FNEX’s brokers foresee a slowdown through the election, but potentially a resurgent IPO market in late Q4.