The IPO Window Reopens For Small Caps

Infrastructure Capital Advisors603 FollowersFollow5ShareSavePlay(10min)CommentsSummaryThe U.S. IPO market produced 371 listings in 2025, a 40 percent increase from the 266 offerings in 2024, according to MicroVentures.The Russell 2000 gained approximately 12 percent in the first quarter of 2026, dramatically outperforming the S&P 500’s modest 1.5 percent gain.The combination of a recovering IPO market, historically wide valuation discounts, accelerating earnings growth, and policy tailwinds creates a favorable environment for small-cap investing. syahrir maulana/iStock via Getty Images U.S. initial public offerings surged 40 percent in 2025 to 371 listings, with a pipeline of high-profile candidates positioning 2026 as a potential landmark year for the small- and mid-cap ecosystem. A Market ComingThis article was written byInfrastructure Capital Advisors603 FollowersFollowInfrastructure Capital Advisors ("Infrastructure Capital") is a leading provider of investment management solutions designed to meet the needs of income-focused investors. Jay Hatfield is CEO and CIO of the investment team. Mr. Hatfield is the lead portfolio manager of the InfraCap Small Cap Income ETF (NYSE: SCAP), InfraCap Equity Income Fund ETF (NYSE: ICAP), InfraCap MLP ETF (NYSE: AMZA), Virtus InfraCap U.S. Preferred Stock ETF (NYSE: PFFA), InfraCap REIT Preferred ETF (NYSE: PFFR), and a series of private accounts. Infrastructure Capital frequently appears on or is quoted in Fox Business, CNBC, Barron's, The Wall Street Journal, Yahoo Finance, TD Ameritrade Network, and Bloomberg Radio/TV.

The team at Infrastructure Capital publishes a monthly market and economic report, quarterly commentaries, investing primers, and asset class and strategy research. In addition, Infrastructure Capital hosts a monthly webinar and attends industry conferences in an effort to provide educational investing resources.