Has the IPO Pipeline Been Unblocked?

Companies like design platform #Figma, #crypto exchange #Gemini, and space transportation firm Firefly Aerospace all had blockbuster #IPOs. But is #VentureCapital back to normal? 🗞️ “While headlines celebrated big pops, reality set in fast,” says PitchBook Senior Analyst Emily Zheng. “Most of this quarter’s largest IPOs finished Q3 below their first-day closing price. The real test will come once lockup periods expire, when we’ll see whether momentum holds or fades.” 💡 Check out this video for more insights from the Q3 2025 PitchBook-NVCA Venture Monitor Report, created in partnership with the National Venture Capital Association and presented by J.P. Morgan, Dentons, and EisnerAmper, and download the full report here ➡️ https://pitchb.co/pshWhE ---------------------------- About #PitchBook PitchBook is a financial data, research, and software provider that provides transparency into the capital and credit markets to help professionals discover and execute opportunities with confidence and efficiency. PitchBook collects and analyzes detailed data on the entire private and public capital market landscape. Visit our website to learn more about the PitchBook Platform - https://www.pitchbook.com Request a free trial to explore our data, research, and insights firsthand - https://www.pitchbook.com/free-trial Sign up for our flagship newsletter, The Daily Pitch, for industry-leading coverage of the capital markets—delivered to your inbox - https://www.pitchbook.com/subscribe Visit our Research Center for the latest industry reports from PitchBook’s Institutional Research Group - https://www.pitchbook.com/news/reports We're hiring! - https://www.careers.pitchbook.com/global/en/ Follow Us on Socials LinkedIn - https://www.linkedin.com/company/pitchbook/ X - https://www.twitter.com/@PitchBook Instagram - https://www.instagram.com/pitchbookdata/ Facebook - https://www.facebook.com/PitchBookData Threads - https://www.threads.net/@pitchbookdata