SAN FRANCISCO, July 1 Initial public offerings
for venture-backed companies slowed in the second quarter but
the value of the transactions climbed to nearly $5 billion on
the back of some outsized deals, making it one of the strongest
quarters in recent years.
Data from the National Venture Capital Association (NVCA)
showed 28 venture-backed IPOs last quarter, down from 37 in the
first quarter. But they raised a total of $4.93 billion, up from
$3.4 billion in the first quarter and more than double the $2.25
billion in the year-earlier period.
The bulk of the IPOs came from the life sciences sector,
with 16 IPOs that raised $1.24 billion.
The largest IPO of the quarter came from China, with its
online shopping company JD.com raising $2 billion in May.
China is home to one of the most anticipated IPOs likely to hit
the market this quarter: e-commerce company Alibaba.
In merger-and-acquisitions activity, the NVCA said 97
venture-backed companies were acquired by others in the second
quarter. Of the 33 that reported transaction values, the average
deal size was $98.6 million.
(Reporting by Sarah McBride; Editing by Tom Brown)