The IPO market has woken up from its more than three-year slumber after the success of several new issues including Circle and CoreWeave. But while many bankers and venture capital executives are anticipating a next wave of high-profile deals in the fall, there is still a risk that tariffs and geopolitical strife could derail the reinvigorated IPO climate.
More companies have gone public this year than in any time since 2021, which itself was a high mark for new issues. So far in 2025, 95 companies have listed on U.S. exchanges, raising $15.6 billion as of June 18, according to data from Dealogic. This is up 30% from last year at this time and nearly double the number of companies that listed in 2022 and 2023.
