Just 19 European startups went public last year. Now, the $226B secondary market is booming  — TFN

Just 19 venture-backed companies went public in Europe in 2025, according to PitchBook. It has created a liquidity crisis, with founders, investors, and A closed IPO market is forcing startups to stay private for longer. Instead, investors and founders can sell shares on Europe's emerging secondaries market.

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