With growing concerns over the Asian markets and the Feds, the public markets took a harsh beating coming into September. Investors panicked, and many sold their shares, thus plunging the markets into depths not seen since 2011. But there’s one place that seems to be immune from the mayhem affecting the public markets: the private market.
Private company funding announcements have started off strong in September, and there’s no indication of any slowdown. In fact, with 21 days left in September (excluding the Labor Day holiday), it is projected that the overall market will deploy $5.5 billion this month — making this the second largest quarter of capital deployment of the past 5 years for startup funding.
The three biggest deals that led to this surge, according to Mattermark (a startup that analyzes startup and VC data), were $120 million for Tanium from TPG Capital and IVP, $108 million for Apttus led by Iconiq Capital, and $70 million for Intellia Therapeutics led by OrbiMed HealthCare Fund Management.
The private markets can be a nice shelter… just as long as the storm isn’t too strong. Because it will come.