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The 3Q23 IPO Market's Law Firm Leaderboard

October 6, 2023

The third quarter of 2023 produced 30 IPOs that raised a combined $7.8 billion, more proceeds raised than in the full-year 2022 despite no significant increase in deal count from previous quarters. Chip giant Arm led activity with its $4.9 billion IPO, followed by grocery delivery platform Instacart and marketing software firm Klaviyo. In total, just seven IPOs raised $100 million or more. With every IPO needing at least two law firms, one for issuers and one for underwriters (and some hiring as many as six), there were 87 legal engagements with 56 law firms, or 101 engagements with 61 firms including SPACs.

View our Report on The Most Active Law Firms of the 3Q23 IPO MarketPDF

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Read Renaissance Capital's other quarterly publications:
- 3Q 2023 US IPO Market Review
- 3Q 2023 IPO Rankings for the Big Four Accounting Firms