Venture Capital-Backed Firms Are Still Wary of the Public Markets
VC-backed companies are on track for their fewest number of initial public offerings in a decade
The Fearless Girl statue outside the New York Stock Exchange (NYSE).
Photographer: Jeenah Moon/BloombergWelcome to Going Private, Bloomberg’s twice-weekly newsletter about private markets and the forces moving capital away from the public eye. Today, we look at why VC-backed firms aren’t going public, and how SoFi is capitalizing on everyday investors’ desire to back hot privately held companies like OpenAI. Also, a young startup touting “micromobility” achieves a $1 billion valuation. If you’re not already on our list, sign up here. Have feedback? Email us at goingprivate@bloomberg.net — Erin Fuchs
Despite some investors’ enthusiasm for US IPOs this summer, VC-backed companies are on track for their fewest number of initial public offerings in a decade, my colleague Natalia Kniazhevich writes.