Latest news with #RenaissanceCapital
Zawya
a day ago
- Business
- Zawya
BitGo joins crypto IPO rush as sector hits $4trln in market value
Crypto custody startup BitGo said on Monday it has confidentially filed for a U.S. listing, joining a wave of companies looking to capitalize on strong market momentum. The crypto sector's climb to a $4-trillion market value has reignited interest for initial public offerings, with clearer regulation, corporate treasury adoption, and institutional inflows fueling a new wave of new listings. Bitcoin, the world's largest and best-known cryptocurrency, recently hit an all-time high and breached the $120,000 mark. "These are the best market conditions the crypto space has seen in years, and companies want to take advantage of that," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. "These startups know that the IPO window can shut unexpectedly, especially in a volatile space like crypto, so they're looking to strike while the iron's hot." Founded in 2013, BitGo is one of the largest crypto custody firms in the United States. It stores and protects digital assets for clients, a role that has gained importance as institutional interest in crypto grows. In mid-2023, it raised $100 million at a $1.75 billion valuation. CRYPTO IPO BOOM The sector's rapid ascent has opened the floodgates for IPO filings, with crypto exchange Bullish recently disclosing its IPO paperwork. Crypto-focused asset manager Grayscale and Gemini, the digital assets exchange founded by Tyler and Cameron Winklevoss, have also confidentially filed to go public. "Many crypto companies have matured. After more than a decade, they've built stable client bases, some with SaaS-like margins and predictable cash flows," said Kat Liu, vice president at IPO research firm IPOX. Last week, U.S. President Donald Trump signed a law to create a regulatory regime for stablecoins, potentially allowing the dollar-pegged digital assets to become an everyday way to make payments and move money. Stablecoin issuer Circle went public in June in a blowout market debut. (Reporting by Manya Saini in Bengaluru; Editing by Leroy Leo and Shinjini Ganguli)
Yahoo
2 days ago
- Business
- Yahoo
Figma looks to raise nearly $1B as it kicks off its IPO roadshow
Enterprise design startup Figma has entered the next step of its IPO journey. Figma announced Monday it is kicking off its IPO roadshow. The company plans to offer more than 36 million shares of class A stock that are expected to be priced between $25 and $28 a share. This offering includes a mix of primary and secondary shares and would allow the company to raise around $1 billion. The company is expected to price its IPO the week of July 28. If the company prices its shares in the middle of its range, it will garner a market value of $15.9 billion, according to Renaissance Capital. That valuation is less than the $20 billion that Adobe offered to acquire Figma for in September 2022, but more than the company's last private valuation of $12.5 billion, according to PitchBook data. Figma initially filed its intent to go public back in April. The company was founded in 2012 by Dylan Field and Evan Wallace. To date, it's raised more than $740 million in venture capital from firms, including Andreessen Horowitz, General Catalyst, and Sequoia, and others.
Reuters
2 days ago
- Business
- Reuters
BitGo joins crypto IPO rush as sector hits $4 trillion in market value
July 21 (Reuters) - Crypto custody startup BitGo said on Monday it has confidentially filed for a U.S. listing, joining a wave of companies looking to capitalize on strong market momentum. The crypto sector's climb to a $4-trillion market value has reignited interest for initial public offerings, with clearer regulation, corporate treasury adoption, and institutional inflows fueling a new wave of new listings. Bitcoin, the world's largest and best-known cryptocurrency, recently hit an all-time high and breached the $120,000 mark. "These are the best market conditions the crypto space has seen in years, and companies want to take advantage of that," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. "These startups know that the IPO window can shut unexpectedly, especially in a volatile space like crypto, so they're looking to strike while the iron's hot." Founded in 2013, BitGo is one of the largest crypto custody firms in the United States. It stores and protects digital assets for clients, a role that has gained importance as institutional interest in crypto grows. In mid-2023, it raised $100 million at a $1.75 billion valuation. The sector's rapid ascent has opened the floodgates for IPO filings, with crypto exchange Bullish recently disclosing its IPO paperwork. Crypto-focused asset manager Grayscale and Gemini, the digital assets exchange founded by Tyler and Cameron Winklevoss, have also confidentially filed to go public. "Many crypto companies have matured. After more than a decade, they've built stable client bases, some with SaaS-like margins and predictable cash flows," said Kat Liu, vice president at IPO research firm IPOX. Last week, U.S. President Donald Trump signed a law to create a regulatory regime for stablecoins, potentially allowing the dollar-pegged digital assets to become an everyday way to make payments and move money. Stablecoin issuer Circle (CRCL.N), opens new tab went public in June in a blowout market debut.
CNA
2 days ago
- Business
- CNA
BitGo joins crypto IPO rush as sector hits $4 trillion in market value
Crypto custody startup BitGo said on Monday it has confidentially filed for a U.S. listing, joining a wave of companies looking to capitalize on strong market momentum. The crypto sector's climb to a $4-trillion market value has reignited interest for initial public offerings, with clearer regulation, corporate treasury adoption, and institutional inflows fueling a new wave of new listings. Bitcoin, the world's largest and best-known cryptocurrency, recently hit an all-time high and breached the $120,000 mark. "These are the best market conditions the crypto space has seen in years, and companies want to take advantage of that," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. "These startups know that the IPO window can shut unexpectedly, especially in a volatile space like crypto, so they're looking to strike while the iron's hot." Founded in 2013, BitGo is one of the largest crypto custody firms in the United States. It stores and protects digital assets for clients, a role that has gained importance as institutional interest in crypto grows. In mid-2023, it raised $100 million at a $1.75 billion valuation. CRYPTO IPO BOOM The sector's rapid ascent has opened the floodgates for IPO filings, with crypto exchange Bullish recently disclosing its IPO paperwork. Crypto-focused asset manager Grayscale and Gemini, the digital assets exchange founded by Tyler and Cameron Winklevoss, have also confidentially filed to go public. "Many crypto companies have matured. After more than a decade, they've built stable client bases, some with SaaS-like margins and predictable cash flows," said Kat Liu, vice president at IPO research firm IPOX. Last week, U.S. President Donald Trump signed a law to create a regulatory regime for stablecoins, potentially allowing the dollar-pegged digital assets to become an everyday way to make payments and move money.
Axios
15-07-2025
- Business
- Axios
DOGE makes its way into biotech IPO filings
DOGE cuts are leading to new warnings in filings from biotech and health-care companies looking to IPO stateside. The big picture: Uncertainty is a deal killer. According to data from Renaissance Capital, there have been just four biotech IPOs this year that have raised over $50 million — down from 10 in the same period last year. Venture bets are slowing too. Driving the news: Carlsmed, a personalized spine surgery company backed by B Capital Group and U.S. Venture Partners warned in its prospectus that "the current U.S. presidential administration" has issued policies to cut headcount and budgets in agencies including the FDA. "It remains unclear the degree to which these efforts may limit or otherwise adversely affect the FDA's ability to conduct routine activities," it continued. Sixth Street-backed cancer diagnostics company, Caris Life Sciences, which went public in late June, said this: "The current Trump administration is pursuing policies to reduce regulations and expenditures across government including at HHS, the FDA, CMS, and related agencies," Caris' prospectus read. "These actions ... may propose policy changes that create additional uncertainty for our business. Zoom out: Though Carlsmed says it's "unclear the degree to which" the cuts will affect the FDA's ability to conduct routine activity, those in the space already feel the effects. The FDA told KalVista Pharmaceuticals last month that the agency would miss a deadline in approving a drug for potentially life-threatening genetic disorders — marking what appears to be the first time a review had to be extended over DOGE cuts. Verve Therapeutics, in a filing explaining its rationale for selling to Eli Lilly for $1.3 billion, noted that Peter Marks resignation in March as director of the FDA played a role in its move to sell rather than raise additional capital.
