2025 IPO, Venture Capital and M&A Reports

2025 IPO, Venture Capital and M&A Reports

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Each year, WilmerHale’s IPO, Venture Capital, and M&A reports deliver in-depth market analysis, backed by robust data and practical insights.

The 2025 IPO Report offers a detailed review of the IPO market and outlook, including a breakdown of IPOs by industry and the number of IPOs from the leading states over the past five years. It also takes a look at the IPO market by the numbers and the profile of successful IPO candidates. The report examines how to prepare cybersecurity disclosures, considerations for current and former shell companies, and the prevalence of EGC elections. And it covers important topics for pre-IPO companies, including how to assemble a board of directors, facilitate pre-IPO communications and test the waters to find IPO investors.

The 2025 Venture Capital Report presents a detailed review of the US venture capital market, including a breakdown of venture financing activity by state, and analyzes key trends shaping the year ahead. The report examines the recent uptick in VC funding “mega-rounds” and discusses the FTC’s efforts to standardize non-compete laws across the country and what this means for new and emerging companies. It also features recent trends in convertible note and SAFE terms, venture financing terms, and VC-backed company M&A deal terms.

The 2025 M&A Report features a detailed review of the M&A market and outlook, including a breakdown by various geographies and industry sectors. It examines what might be in store with antitrust and CFIUS under the Trump Administration, common purchase price adjustments in financial services transactions, and common takeover defenses. The report also looks at considerations in conducting “dual track” M&A and IPO processes and the challenges associated with pursuing pre-IPO acquisitions. Plus, it highlights key trends in M&A deal terms for VC-backed companies.

The relevant reports also showcase prominent recent capital markets, venture capital and M&A transactions. And the reports are available in downloadable and online versions for viewing.

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