UBS Equities-US Thematic Research _UBS Private Market Monitor Keeping Up...-116093610

ab22 June 2025Global ResearchUS Thematic ResearchUBS Private Market Monitor: Keeping Up with Private CapitalWe highlight relevant UBS research and the latest trends in VC/PE. Inside the report, we include links to UBS’s most recently published private company profiles, the latest news on potential upcoming IPOs, the latest financing rounds/sector level investment trends, and other news we are watching. We also include our takes on recent UBS research that we think has implications for private markets, upcoming UBS ARC events, and upcoming UBS events with private companies in attendance. See below for a detailed overview of what is inside the report:1. Recent private company profiles from UBS research: Recent reports cover Fintech, US Auto-tech, US Steel, Oncology, and Chem & Packaging.2. Who's in the news - IPOs to watch: Recent IPO news flow and data on stock performance IPOs in the preceding 30 days. Recent LSEG data demonstrate that at $12.3B, US IPO volume (1/1 - 6/17) is down 12% YoY.3. A taste of what's next - trends in IPO filings: Details on trends in deal volume and size, as well as sector level analyses of recent filings. SPACs account for nearly half of announced/in progress IPOs in '25 (up vs ~1/3 prior).4. Top 25 funding rounds: The top 25 funding rounds from the last 30 days. New on the list from this week are TerraPower (nuclear energy technology), Applied Intuition (autonomous vehicle platform), Skild AI (robotics/AI platform), Abridge (application to record/summarize medical conversations), Teamworks (athlete engagement application), Ramp (expense management platform), Meter (enterprise network infrastructure), and Muon Space (develops low Earth orbit satellites). We also include sector-level data on all deals from US companies with disclosed values in the prior 7 and prior 30 days. 5. Exits with values disclosed (IPO, M&A): Details of recent (trailing 7 days) exits. The largest exit from the trailing 7 days was Goldman Sachs Asset Management's acquisition of Synthon International Holding, a pharmaceutical company developing generic medicines.6. Other news we are watching in PE/VC: Our takes on recent news that we see as relevant for private markets. Some highlights from this week include reports that META tried to acquire Safe Superintelligence but instead will hire its CEO and Cofounder, top administrators at CBER placed on administrative leave, and TSLA's optimism on humanoid robots could bolster expectations.7. New from UBS Research: From UBS Research this week, a cross-sector Q-series on the future of humanoid robots and where we see opportunities and risks, as well as a Tools Manufacturing Handbook analyzing market trends (e.g. GLP-1s, mAbs for Alzheimer's disease, and oligonucleotide APIs) with implications for tools suppliers.8. What's on our radar? We spotlight the UBS Private Software and Internet Conference coming up in July in San Francisco, CA.9. Upcoming UBS ARC Events: Calendar for upcoming UBS ARC-sponsor