The re-awakening of the IPO market is certainly notable, signaling renewed investor confidence and a meaningful shift in broader risk appetites.

Note: This chart contains only 36 names, as we removed any without three years of data (e.g., 2021 IPOs), as well as any direct listings. % of outperformance vs. IGV since IPO.

US IPO Activity — From Boom to Bust: This chart gives a sense for the magnitude and scale of the US IPO boom (and bust).

While the energy industry comprises 16% of 2014's IPO, the average return among those companies is just 11.8%. The biggest returns have come from the tech industry.

Today, we bring you two charts highlighting interesting trends around the IPO market. $29 billion raised through 160 IPOs in past 3 years, more than the $26 billion raised in previous 7 years ...

Record new listings in 2021 It was a record year for the IPO market in 2021, fueled by the popularity of SPACs. Based on Nasdaq data, there were over 1,000 new listings (~59% of which were SPACs ...

That would be worth anywhere from $100 billion to $150 billion. By comparison, the Alibaba IPO, which was previously the world's largest IPO, raised only $21.8 billion.