Venture-backed IPOs YTD - Europe: 56, US: 37
There were 14 venture-backed initial public
offerings in Europe in the third quarter of 2006 and the year's
total so far is 56, according to VentureOne (via AP), compared to 39 for the same period last
year. In contrast, venture-backed companies in the United States had just
8 IPOs over the third quarter and 37 for the year to
date.
However, cash raised in the European offerings was
116.7 million euros ($147 million), a decline of 68% from the
same period last year. By comparison, the 8 U.S. IPOs raised $623.3 million (495.5 million
euros), the VentureOne data show.
The public offerings are occurring on mostly entrepreneurially focused smaller exchanges such as Alternext and Deutsche Bourse and these IPOs are serving more as another capital-raising option for start-up companies in Europe, rather than as true exits from their investors' portfolios.
