PE and VC IPOs exits share of the IPO market continues to decline, to 28% in H1 2017 falling from 40% of value in H1 2014. The certainty and strength of private sales are dampening the level of market activity. Despite the increased deal numbers in 2017, average IPO size has consistently fallen in recent years, with the average 2017 deal value of USD 151 million just half the average in 2014.
Cross-border PE and VC backed IPOs have raised USD 1.5 billion from eight deals so far in 2017, up from three IPOs with total proceeds of USD 600 million in the first half of 2016.
CROSS-BORDER PE AND VC EXITS
PE AND VC IPO EXITS - SECTOR INSIGHTS
Technology exits were strong in the first half of 2017, with high profile tech companies coming to market. A total of 44 PE and VC backed technology companies raised a total of USD 7.7 billion – with Snap raising USD 3.9 billion of the total.

Energy and power PE and VC backed IPOs have fluctuated over the last number of years but H1 2017 is showing positive signs with 13 listings.

Real Estate was the only industry to increase capital raised since H1 2015 from a smaller number of IPOs. Capital raised in this industry was driven by the Invitation Homes IPO, the largest US home rental company. This IPO raised a total of USD 1.7 billion on the New York Stock Exchange. This is the largest US real estate investment trust (REIT) since Paramount Group raised USD 2.3 billion in 2014. Invitation Homes is backed by Blackstone Group which invested around USD 10 billion in building a 48,000 home portfolio.

In the Healthcare sector there was modest improvement in capital raised from 2016, with 25 IPOs raising a USD 2.7 billion, well below levels in 2015 and 2016 when there was over USD 5.4 billion.
PE AND VC IPO EXITS - REGIONAL INSIGHT
PE and VC-backed IPOs exits increase Trade sales and secondary buyouts remained more attractive alternatives to IPOs but there are signs of activity stabilising. PE and VC-backed IPOs grew in absolute terms in H1 2017, with 206 IPOs raising USD 31 billion and representing 35% of all capital raised by IPOs. VC backed IPOs accounted for over 82% of volume of this activity as shareholders look to monetise their investment.
PE AND VC BACKED IPOs
PE-and-VC-Backed-IPOs
Cross-Border-PE-and-VC-Exits
Companies based in the United States dominated capital raising in the first half of 2017 with USD 15 billion from 30 IPOs. In contrast to the rest of the wold, average deal size in the US has been stable over recent years.
Chinese companies take number one spot for deal volume with 121 issuances raising USD 8 billion.

PE and VC backed exits in the UK dropped to their lowest levels since 2013, raising a total of just USD 394 million, down from USD 1.5 billion in H1 2016 and USD 5 billion in H1 2015.
DOMICILE NATION BY VALUE
Domicile-Nation-by-Value
DOMICILE NATION BY VOLUME
Domicile-Nation-by-Volume
Cross-Border-PE-and-VC-Backed-IPOs
CROSS-BORDER PE AND VC BACKED IPOs
PE AND VC IPO EXITS -STOCK EXCHANGE INSIGHT
The New York Stock Exchange recovered from a poor 2016 to come out as top venue for exits H1 2017 with 25 IPOs raising USD 14 billion – Snap Inc accounting for 32% of this total. This exchange experienced a drop in numbers in H1 2014 to just seven IPOs from 28 IPOs in H1 2015.

Two Chinese stock exchanges, Shenzhen and Shanghai have performed well in recent years in value and volume. Listings on Nasdaq decreased in the first half of 2017, with 10 PE and VC backed IPOs.
TOP STOCK EXCHANGES ANALYSIS BY VALUE
Top-Stock-Exchanges-Analysis-by-Value
TOP STOCK EXCHANGES ANALYSIS VOLUME
Top-Stock-Exchanges-Analysis-Volume
PRIVATE EQUITY AND VENTURE CAPITAL BACKED IPO INSIGHTS
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