Of the VC-backed companies in the US that have conducted IPOs so far in 2018, nearly two-thirds are part of the healthcare industry. And the spike in healthcare companies hitting the public markets represents a larger trend: VC-backed IPOs in general are booming.
So far, just about halfway through 2018, the total deal value for VC-backed IPOs in the US stands at $6.9 billion, per PitchBook data. If the pace keeps up, this year will be second to only 2012 in terms of IPO deal value—and 2012 is a bit of an outlier, as it includes Facebook's record-breaking public offering. The number of public debuts in 2018 is high, too: This year is set to see around 85 VC-backed IPOs in the US, a number that's only been exceeded in 2007, 2013 and 2014.
The healthcare sector, which encompasses devices & supplies, drug discovery and biotechnology, is by far the most active industry for IPOs this year. Of the 41 venture-backed companies based in the US that have gone public over the past six months, 27 fall in the healthcare sector, per PitchBook data. Next comes IT: Eleven companies in that industry have conducted IPOs since the beginning of 2018, including Dropbox, DocuSign and Zscaler.
Here's a look at all the US-based VC-backed companies that have gone public so far in 2018, ranked in terms of valuation at the time of their debut:
|Company name||Month of IPO||Years from founding to IPO||Industry sector||Money raised in IPO||Value at IPO|
|Inspire Medical Systems||May||11.3||Healthcare||$108.0M||$323.9M|
|Kezar Life Sciences||June||3.5||Healthcare||$75.0M||$274.8M|
|One Stop Systems||February||20.1||IT||$19.0M||$61.7M|