While public markets have rebounded significantly since the first quarter, uncertainty around international trade policy kept the IPO market largely dormant during the first half of the year. Nonetheless, dealmaking activity remains resilient. Overall deal volume has held steady, albeit at lower levels than in previous years, as investors continue to pursue high-quality companies that have demonstrated strong performance and shown the ability to navigate the evolving macroeconomic backdrop. With greater clarity on U.S. tax and trade policy, there is optimism among dealmakers for increased activity during the second half of the year.

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To watch the Q2 2025 Private Capital Markets Update, click here: Replay

Discussion Topics:

• Venture capital activity and the outlook for VC investment
• IPO issuances and public market valuations
• M&A activity and valuations across sectors and transaction sizes
• Debt market trends, including current pricing and risk spreads, leverage levels and private debt activity
• Private equity trends in investment activity, fund raising and exits
• Market outlook for the remainder of 2025