Will 2025 be the year of the IPO window for European VC?

After years of subdued public listings across EMEA, could 2025 be a turning point? PitchBook Senior Analyst Navina Rajan is tracking key IPO trends, including:

Valuations and volatility reaching a sweet spot for a European IPO window.
A growing IPO backlog across Europe, including 30+ companies with a 90%+ IPO success probability according to PitchBook’s VC Exit Predictor.
Structural hurdles pushing European companies to list on US exchanges.

For more on this topic, including how IPO returns in Europe have worsened in recent years while US returns have gained, download PitchBook’s Q1 2025 Analyst Note: Year of the IPO Window.