July 3 - Tech IPOs showed signs of life in June, with five U.S. listings last month, more than double the post‑January monthly average of two.
The standout was Circle Internet Group (CRCL, Financial), whose stock more than quintupled on its New York Stock Exchange debut, lifting its market value to about $42 billion. Venture firms General Catalyst, Breyer Capital and Accel still hold roughly $8 billion in Circle shares after partial sell‑downs.
Meta Platforms' (META, Financial) announcement of a $14 billion investment in Scale AI also buoyed sentiment, as did the filing of a public prospectus by Figma, the design‑software vendor whose planned IPO follows a thwarted $20 billion Adobe takeover. Early‑stage investor Rick Heitzmann of FirstMark said, “The IPO market is starting to open and the VC world is cautiously optimistic.”
CoreWeave (CRWV, Financial) offered another positive signal: after a muted debut, its shares jumped about 170% in May and 47% in June. Yet experts caution the rebound may not be linear, pointing to ongoing rate‑cut uncertainty and regulatory hurdles. For now, though, the uptick has eased pressure on venture‑backed companies longing for exits.
