There were no IPOs among U.S. venture capital-backed companies from Facebook's listing on May 18 until June 28, according to data from the National Venture Capital Association and Thomson Reuters released Monday.
Eleven venture capital-backed companies went public in the second quarter, raising $17 billion, a 42% decline in number of deals and a 91% increase in the amount of capital raised in deals from the first quarter of this year. The total amount raised was mostly the result of the $16 billion Facebook IPO.
By comparison, 22 venture capital-backed companies went public, raising $5.5 billion, in the second quarter of 2011.
“There's no question that the psychological fallout from the Facebook IPO, coupled with economic uncertainty in Europe, put a chill on the public markets for most of the second quarter,” Mark Heesen, president of the NVCA, said in a news release.
The JOBS Act provisions, making it easier for smaller companies to go public, helped to turn the spigot of venture capital-backed IPOs back on in the final days of June, Mr. Heesen said in the release.
The number of venture capital-backed mergers and acquisitions stayed the same between the first and second quarter of 2012, at 102, but the deal value increased by 62% to $5.5 billion.