VC-Backed Firms Head for Least US IPOs in Decade, PitchBook Says

Venture capital-backed companies are on track for the fewest US initial public offerings in a decade, according to data provider PitchBook, even as stock markets hit records and the overall number of divestments continues to climb.

Of the companies that count venture capital firms among their investors, 27 went public in the first half of the year, the smallest number in at least 10 years, PitchBook’s data show. The US listings raised $44.4 billion in aggregate, according to the data.

While the overall number of so-called exits was nearly flat in the second quarter versus the previous three months, ...