Hot Upcoming IPOs to Watch

The most exciting upcoming IPOs include design platform Canva and digital asset manager Grayscale Investments.

initial public offerings IPOs just ahead
(Image credit: Getty Images)

After a shaky start to the year due to uncertainty about the Trump administration's tariffs and stock market volatility in the spring, activity in the initial public offering (IPO) market has picked up in the second half of 2025.

The major U.S. equity indexes are now trading at all-time highs amid a recovery led by tech stocks. Softer-than-expected tariff rates as well as still-massive spending by AI hyperscalers has supported the broad risk-on price action.

That's reflected as well in a rejuvenated IPO market. According to Renaissance Capital, 143 deals have been priced so far this year, up 55% vs 2024, to raise a total of $22.7 billion.

"The IPO market is in a good position at the moment, and it looks like the long-awaited pickup is finally going to materialize," said Renaissance Capital Director of Investment Strategies Avery Marquez. "Solid recent performance and renewed demand for growth stocks have translated to more notable names joining the public pipeline, and we've started to see that move to the calendar."

Marquez expects a steady flow of new issuance through the fourth quarter. "That said," he adds, "there's still uncertainty around tariffs and inflation, and as usual, any major blows to market stability or investor confidence could put a damper on a full-blown pickup."

The IPO market remains volatile. Figma (FIG), an online design platform, saw its IPO soar 250% on its first day of trading in the last week of July and that gain shrink to 66% by the first week in September.

FIG stock illustrates why it's important for investors to consider IPOs only for that portion of your allocation model set aside for high-risk assets, perhaps 5% to 10% of your portfolio.

Tom Taulli
Contributing Writer, Kiplinger.com

Tom Taulli has been developing software since the 1980s when he was in high school. He sold his applications to a variety of publications. In college, he started his first company, which focused on the development of e-learning systems. He would go on to create other companies as well, including Hypermart.net that was sold to InfoSpace in 1996. Along the way, Tom has written columns for online publications such as Bloomberg, Forbes, Barron's and Kiplinger. He has also written a variety of books, including Artificial Intelligence Basics: A Non-Technical Introduction. He can be reached on Twitter at @ttaulli.