Capital raised→Value at first exitMarket cap, monthly, 24 months after IPOFirst exits 2015–2026

$0$10B$20B$30B$40B$50B

$2.0B$35.8BIPO 2021

$2.1B$29.5BIPO 2018

$905M$18.4BIPO 2026

$4.5B$15.1BIPO 2025

$894M$13.7BIPO 2020

$396M$11.9BNvidia 2026 · pending

$434M$11.0BIPO 2021

$396M$10.6BIPO 2021

$200M$10.1BIPO 2021

$1.6B$10.0BIPO 2021

$1.1B$10.0BIPO 2021

$821M$8.1BDoorDash 2021

$323M$7.8BIPO 2018

$92M$7.4BIPO 2021

Acerta Pharma

$371M$7.0BAstraZeneca 2015

Company values, not investor returns. Each company counted once, at its IPO price or deal value. Deal years are announcements. Includes companies founded in Europe and headquartered abroad; SPAC listings excluded. Market caps approximate; no price data for Deliveroo.