The Return of Risk Capital in the IPO Market

In Q2, we had secondary offerings raised triple the amount of money they did in Q2 of last year. So typically when you have a first half year performance like this, it bodes well for the IPO market for the second half. The interesting thing about 2023 is while markets have come back, risk capital is not IPOs, VC money, investment in high yield bonds,. You're not seeing the upsurge usually see when markets are doing well and maybe there's going to be a delayed reaction.