On February 8, 2022, Euronext announcement the upcoming arrival of Tech Leaders, a new financial market intended for “Welcome and promote high-growth companies in the technology sector”. With this new segment, the European stock market operator hopes compete with the Nasdaq.
With Tech Leaders, tech companies will finally have their market place in Europe
According to Euronext’s press release, Tech Leaders promises to provide visibility for tech companies to international investors. This new segment aims to help companies succeed in their first steps or their journey on the European market.
Cédric O wants to create fifteen European funds to support startups
With Tech Leaders, Euronext wants to prevent these companies from giving in to the sirens of the Nasdaq. Euronext specifies that interested companies will be able to benefit from support on the market with pre-IPO services (executive coaching, consulting) and post-IPO. With this new segment, Euronext hopes to attract future European unicorns.
Since the start of 2022, French Tech has been in great shape. French companies that exceed one billion dollars in value are more and more numerous. There were notably PayFit, Ankorstore, Qonto and BackMarket has even become top rated unicorn in France a few weeks ago, reaching the $5.1 billion. Tech Leaders will certainly have no shortage of French suitors.
Planned launch of this new segment during the second quarter of this year
Stéphane Boujnah, Chairman of the Management Board of Euronext, stated that “The increase in companies achieving unicorn status in Europe also means growing funding needs as companies attempt to transform their success internationally”.
To date, the European market has 763 companies listed in the tech sector. Highlight: in 2021, more than 50% of IPOs concerned the tech sector, including the French Believe, OVHcloud, Aramis and Exclusive Networks.
Tech Leaders will officially launch in the second quarter of this year. Even before this launch, Euronext already represents a market capitalization in the tech field of 1,800 billion euros. As Stéphane Boujnah points out, “Euronext is already Europe’s leading listing venue for tech companies, and we are committed to supporting the next generation of innovation-driven companies across Europe”.