Transaction Affinity Group – State of the Markets Update
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Our next Transactions Affinity Group Meeting on Tuesday, May 22, 2018.
The bull market powers on, and money continues to flow into the innovation economy. At the same time, we are seeing a reemergence of volatility and a bevy of new risks — including tighter monetary policy and the specter of a trade war — but it’s still status quo for now in the capital markets.
Despite market turbulence, the first quarter of 2018 ushered in several high-profile IPOs, and consumer- and enterprise businesses are finding success as public entities. Furthermore, companies reluctant to go down the IPO route found alternative paths. After years of successful fundraising, the world remains awash in capital, and sovereign wealth funds appear poised for even greater contributions. All of these factors are expected to provide further tailwinds for the tech sector.
This remains an exciting time for tech around the globe, with some caveats. Innovation companies thrive on open markets, and rich valuations could be undermined by strained geopolitics, wavering consumer confidence and a releveling of investors’ portfolio mix as interest rates rise. While the good times roll, economic cycles don’t last forever, and the trends don’t always point upward. For the moment, however, it’s game on.
Silicon Valley Bank
Steven Pipp, CFA is a Research Manager based in San Francisco, CA, responsible for leading capital markets research and data-driven analysis on the venture economies that SVB serves globally.
Steven is the author of SVB’s flagship State of the Markets report which addresses the most pressing questions facing late-stage technology companies and investors. These quarterly pieces draw on insights from thought leaders across SVB and have explored topics such as the rise of China’s innovation ecosystem, the effect of international tension on cross-border investment, and the influence of nontraditional venture investors.
Prior to his research role, Steven spent two years managing advisory and valuation engagements for venture-backed technology companies as part of SVB Analytics. Before joining SVB, Steven worked in Minneapolis, MN, as a consultant and entrepreneur developing business strategies and evaluating the economic potential for technologies at the intersection between agriculture and energy.
Steven earned a Master of Science in Finance from Boston College and a Bachelor of Science Business from the University of Minnesota. In addition, he holds the Chartered Financial Analyst (CFA) designation.
May 22, 2018
5:00 PM – 7:00 PM
Quadrus Conference Center & Catering
2400 Sand Hill Rd., Menlo Park CA 94025
Networking with drinks and light fare, followed by discussion.
Please arrive early for registration!
One and a half (1.5) CPE credits available. Field of Study: TBD
FEI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Questions regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website, www.learningmarket.org.