Venture capital exits collapsed 92% from $680B in 2021 to just $52B in 2023 — the worst drought in a decade. Rate hikes, valuation resets, and LP distribution pressure froze the IPO market for nearly two years. The thaw began in 2024 with $155B in exits, accelerated to $302B in 2025, and then exploded: Q1 2026 alone produced $347B in VC-backed exits, already surpassing all of 2024. SpaceX's June 2026 IPO — the largest in history at $75B raised and a $2.27T market cap — created the single biggest liquidity event for private investors ever. Anthropic has filed at $965B, Databricks and Stripe are expected later this year. This dashboard tracks the full exit cycle: annual volumes, IPO counts, notable listings and their day-one performance, the upcoming pipeline, and the M&A landscape reshaping venture returns.
$75B — SpaceX’s June 2026 IPO is the largest in history. It priced at $135, opened at $150, and surged 27% on day one to ~$171. The company debuted at a $2.27T market cap, making it the 7th most valuable public company globally.
92% — VC-backed exit value collapsed from $680B in 2021 (driven by SPAC mania and 397 IPOs) to just $52B in 2023 with only 28 IPOs. Rate hikes, valuation resets, and LP distribution pressure created the worst exit drought in a decade.
Anthropic (filed at $965B), Databricks (expected H2 2026), and Stripe (expected 2026-27). OpenAI is reportedly filing confidentially targeting $730-850B for September 2026. Combined, these represent over $4T in potential new public market cap.
$347B in Q1 2026 alone already exceeds all of 2024 and 2025. The SpaceX IPO created the single largest liquidity event for private investors ever. Secondary markets have also matured, providing alternative exit paths beyond traditional IPOs.
$347B in Q1 2026 is already on pace to surpass 2021’s $680B full-year total. The key difference: 2021 was driven by 397 IPOs (many SPACs that later crashed), while 2026 exits are concentrated in fewer, higher-quality companies with real revenue.