Dealmakers entered 2025 with cautious optimism, hoping that the tailwinds from late 2024 would carry through. The economic climate shifted toward volatility, with tariffs, policy shakeups, and global market swings dominating the headlines of the new year. However, as market conditions stabilized across May and June, we’ve seen encouraging trends in market activity kicking off the beginning of Q3.

In January 2024, the Securities and Exchange Commission (SEC) approved new rules and amendments to better align Special Purpose Acquisition Company (SPAC) transactions with traditional IPOs. Now as the June 30^th compliance date quickly approaches, businesses must prepare to meet the new structured data requirements.

IPOs are a crucial element in the tech ecosystem. They provide access to capital, liquidity for investors, and an avenue for increasing brand value. A successful public offering is an important milestone for every tech entrepreneur.

So, it’s no surprise that this week’s panel at NYC Tech Week, IPO journey in the era of AI, attracted a lively and engaged audience, eager for insights. I had the pleasure of participating in the discussion, which was sponsored by PwC and moderated by PwC partner Christina White.

Navigating the private investment lifecycle is essential for companies seeking to scale, compete and ultimately reach public markets. This lifecycle includes a series of structured funding rounds — each aligned with a company’s growth stage and strategic goals. From early seed capital that fuels initial product development to later-stage funding that supports expansion or IPO readiness, every phase plays a critical role in building long-term value.

In today’s competitive and unpredictable market, private companies are adopting public company disciplines — from stronger governance to smarter tech investments — to attract capital, scale efficiently, and stay ahead.

This white paper, Private Companies in 2025: Scaling Through Public Practices, produced with our partner, NetSuite, explores how forward-thinking private companies are:

In this video, Madeleine Nuttall, Director, Legal Counsel at PropertyGuru Group who managed the company's SEC Filings as a Foreign Private Issuer (including Annual Report Form 20-F and Form 6-K) shares her experience using ActiveDisclosure.

Watch this video to discover how the company has leveraged the software alongside DFIN’s 24/7/365 expert support to drive speed, accuracy and cost efficiencies in their financial reporting workflows when the company was listed on the NYSE.

The IPO process is complex and building a solid foundation with the right software platforms backed by experts is essential to IPO success. Join speakers from DFIN, NetSuite, and MBX Biosciences as they provide valuable insights into why private companies are investing in business management (ERP) and financial reporting software well in advance of their potential Initial Public Offering (IPO).

Webinar topics covered:

Learn how to drive efficiencies and organization amongst your team while preparing for your exit. Hear Eric Bell, SVP and Controller at Q32 Bio, share his experience on how early preparation and a SAAS reporting platform helped with the transition to public company reporting requirements.

Regulatory Technology (RegTech) is gaining momentum in the financial industry, offering innovative solutions for compliance and risk management. With ever-evolving regulations, businesses must adapt quickly to avoid penalties and ensure seamless operations. Unlike broader FinTech innovations, which focus on enhancing financial transactions, RegTech solutions specifically address regulatory challenges through automation and data-driven insights.

"Q4 started off strong with ten $50 million+ offerings in October—the busiest month for offerings this size since November 2021. Silent night was the theme for the remainder of the quarter as companies continued to push their IPO timelines. There is optimism the market will fully normalize in the new year, and we see a significant break in the IPO backlog." Craig Clay, President of Global Capital Markets, DFIN