With successful IPOs by ServiceTitan in the US and Apotea in Sweden, and public stock valuations going up I think it is fair to say that the IPO window has opened up.
The ‘big one’ from a Swedish perspective is Klarna, which hopefully has a successful IPO in the first half of 2025.
For startups, IPOs shouldn’t really have a short-term direct impact on fundraising, but with the drought of IPOs and M&As in the last few years it likely will.
An open IPO window and a new regime in the US competition authority (FTC) that will allow large technology companies to acquire startups, will increase the number of exits that send checks (figuratively speaking) back to investors in startups and venture capital funds. Much of this will be recycled back into new startup and venture investments, which is good for startups.
