Sell-side share of IOIs rises as Forge Global sees four-month buy-side decline

Sell-side share of IOIs rises as Forge Global sees four-month buy-side decline
Forge Global buy-side IOIs drop

Forge Global reported that buy-side indications of interest (IOIs) accounted for 43.5 percent of all IOIs on its marketplace in September, marking the lowest share in roughly two years.

The company noted this is part of a four-month downward trend, indicating a shift in the marketplace dynamic with increased activity from the sell side and a changing balance between liquidity supply and buyer demand.

Earlier this quarter, Forge Global highlighted five startups that secured the largest funding rounds in Q3 2026, providing updated valuation data on its platform (Forge Global lists five startups with largest Q3 2026 funding rounds on its marketplace). The company also recently reported slower momentum in IPO activity following a strong start and several major debuts earlier in the year (IPO activity dips as Forge Global observes slowdown after strong start). Both developments reflect shifting patterns in private market activity tracked by the firm.

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