During the first half of the year, 208 initial public offerings (IPOs) raised more than $137 billion, according to recently published statistics and data visualizations from the Securities and Exchange Commission’s (SEC) Division of Economic and Risk Analysis (DERA). This represents an approximately 16 percent increase in the number of IPOs and a nearly 400 percent increase in proceeds raised during the first half of 2025.
Also during the first half of the year, 557 follow-on registered offerings raised more than $111 billion, representing an approximately 10 percent year-over-year increase in the number of offerings and a 33 percent increase in proceeds raised.
“DERA’s latest data highlight the continued strengthening of U.S. capital formation under (SEC) Chairman (Paul) Atkins, with notable growth in both IPOs and follow‑on offerings,” Dr. Joshua White, DERA chief economist and director, said. “By expanding access to transparent, high‑quality data and analysis, DERA aims to equip the public, market participants, and policymakers with insights that support resilient and well functioning capital markets.”
DERA’s findings were published on the SEC’s public statistics and data visualizations webpage.
DERA provides high-quality economic and statistical analyses to inform SEC rulemaking and oversight. It helps identify and respond to emerging marketplace issues, trends and innovations.