Morgan Stanley-Thematics Venture Vision IPOs #3 - First Day Pops-106599755

MFebruary20,202403:00PMGMTFoundationThematicsEuropeMorganStanley&Co.Internationalplc++44207425-0840+44207425-9902VentureVision:IPOs#3-FirstEdwardStanleyDayPopsEquityStrategist1stdayreturnshavebecomeemblematicof"successful"IPOs.Edward.Stanley@morganstanley.comYet,overa3yearview,suchpopstendstobeuncorrelatedwithacompany'ssuccessinlistedmarkets.Thatsaid,itisamoreMatiasOvrumusefultoolthanmostinprovidingthecatalystforasnowballeffectinrestartingIPOmarketsafteratrough.EquityStrategistMatias.Ovrum@morganstanley.com•SignuphereforPrivateMarketsExpertCallonthestateofprivatemarkets,fundingandexitsOurVentureVisionweeklieslookat(1)early-stagecross-themefundingpatterns;(2)•See#1(here)and#2(here)inthisIPOseriesforfurthermarketcontextrelativevaluationsbetweenthemes;(3)publicversusprivatevaluations;(4)theresultingExhibit1:QuestionoftheWeek-HowhaveIPOreturnsdeveloped?anomalieswithincertainthemes.PleaseletusknowifyouwouldlikeourexceldatabaseofConsensusview:>45,000VCdealscategorisedbytheme,country,valueanddate.WealsosendthisfileasStrongday1returns="Good"IPOaweeklydistributionifyouwouldliketoreceiveitregularly.Seehereforourglobalmarketsynopsis.SeehereforourlongeranalysisonthestateoftheVCmarket,particularlyasitrelatestonon-USVentureandinnovationacceleration.OurTakeForInvestors:OurTakeForCorporates:Fromourresearchthereisacleardiff...