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The prevalence of VC-backed companies is important as they typically have a different growth profile. The aggregate market cap of VC-backed tech IPOs since 2016 on the first day of trading was $63B compared to $61B for non-VC-backed companies. Between their respective IPOs and 31 October 2020, however, VC-backed companies have added an additional $77B in market cap versus just $32B for non-VC-backed companies. This underlines the role that VC-backed tech companies play from a growth and value creation perspective.

Market cap ($B) at IPO and added post-IPO by VC-backed and non-VC backed tech IPOs, 2016 to 2020


  • Non-VC-backed
  • VC-backed
Excludes companies that have delisted since IPO. S&P Capital IQ Platform, as of date 31 October 2020, for illustrative purposes only.