Momentum Builds in the U.S. IPO Market -

Renaissance Capital reported a strong start to the year in its U.S. IPO Market 1Q 2017 Quarterly Review. The first quarter of 2017 saw 25 IPOs, which raised $9.9 billion, a jump from 1Q 2016’s eight IPOs raising less than $1 billion. This was a seven-quarter high for capital raised. Median deal size also rose to $190 million.

There was an even distribution of IPO activity across various sectors. The energy sector made up 20% of 1Q 2017 IPOs, raising $1.5 billion. The tech sector raised the most capital this quarter, $4.0 billion from its four IPOs. Biotech IPO activity saw its lowest levels since 4Q 2012 with only three IPOs this quarter. The tech sector had the largest U.S. IPO since the Alibaba IPO in 2014, with the Snap IPO raising $3.4 billion.