Of the 1,400 “unicorns” (technology companies with more than $1 billion valuation) that have priced in the last five years, on average, 40 per year have gone public over the last ten years. Outsized valuations in U.S. public markets driven by the top technology companies are making it more difficult to get an IPO priced. Pressure is further induced by an increase in geopolitical tensions and regulatory inconsistencies across markets. At the Mizuho Technology Conference held earlier in the summer, leading enterprise tech and growth investors discussed the current state of the U.S. IPO market and provided insights into alternative paths to liquidity for technology companies through either strategic sales or other global marketplaces and exchanges.