PB: VC vs the S&P 500

PitchBook’s Cameron Stanfill, CFA writes:

VC-backed IPOs are booming, yet public performance this year is lagging

Has 2021’s ramp-up in IPO activity been a rush to the exits prior to a change in the market cycle?

Is it just the new normal?

Time will tell, but one thing is certain: US VC-backed IPOs have broken all kinds of records this year, unlocking more than $500 billion of liquid value.

The median company valuation at IPO is nearly 60% greater than its last private valuation. However, our VC ...