China Unicorns Facing IPO Freeze Tap $240 Billion Private Market
- Buyout firms and family offices fueling pre-IPO capital raises
- Asia private markets fundraising more than doubles since 2017
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China’s recent crackdowns on overseas listings have thrown a wrench in the works of startups looking to go public, driving them to pursue investors in Asia’s rapidly growing private capital markets.
JPMorgan Chase & Co. estimates the fundraising amount in private capital markets for entrepreneurs in Asia surged to over $240 billion last year from about $100 billion in 2017, driven largely by Chinese firms.