Others like Rebecca Lynn, cofounder and general partner at early stage firm Canvas Ventures, are also in favor of down rounds over taking a deal with onerous terms. What’s the big deal? All of our public stocks are down,” Taneja said. And the message to startups? There’s no shame in it. Down rounds, where companies raise more funding at a lower valuation than their previous round, were a big topic of conversation among VCs. It’s not just investors who need to take their medicine. And VCs dished plenty of advice and observations about the struggles startups are, and will be, going through. Things are still badįor all that optimism about going public, private companies are still facing a lot of challenges. And if the recent crop of companies filing (including Klaviyo and Instacart) do end up getting the valuations they want, “I think you’re going to start to see companies really gear up to file,” Martin suggested, though it may not be a “flood” of S-1s until next year.
The recent cohort of IPOs (like Arm, and earlier this summer, Cava) shows that there is investor demand for IPOs, she said-or, at least, the right companies.
New York Stock Exchange Group president Lynn Martin was, unsurprisingly, bullish on the return of IPOs, declaring that there’s “a big pipeline coming up a lot to talk about in the next, I’d say, six to eight weeks, which hopefully will position ’24 to be back to normal,” she said. “If this goes well, you get back to work, because we’re waiting.” “We are all watching you,” he said to the growth investors in the room. “If we can get a few of those successful IPOs, we might get this whole capital markets thing flowing and moving again,” Brad Svrluga, cofounder and general partner at VC firm Primary, which hosted the event, said during his opening remarks.
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