Frequently Asked Questions

IPO Intelligence is Renaissance Capital's institutional-grade research platform covering every major U.S. and international IPO. It provides independent pre-IPO research reports, investment ratings, proprietary DCF financial models, real-time alerts, and direct access to our senior IPO analysts — everything a portfolio manager or CIO needs to make informed IPO allocation decisions before the window closes.

Renaissance Capital was founded in 1991 and is widely recognized as the leading independent authority on IPOs. We have no underwriting relationships, no investment banking conflicts, and no sell-side obligations. Our sole focus is providing institutional investors with objective, research-driven IPO intelligence. We have covered more than 11,000 IPOs over 35 years and maintain a 92% annual client renewal rate.

Our subscribers include hedge funds, mutual funds, pension funds, sovereign wealth funds, endowments, asset managers, investment banks, RIAs, family offices, and IPO advisory firms. Any institutional investor who needs comprehensive, unbiased IPO research — without the overhead of building an in-house team — relies on IPO Intelligence.

Underwriters are legally prohibited from publishing research on their own deals for 30 days after pricing — the so-called Quiet Period. During that window, sell-side research is either absent or conflicted. Renaissance Capital has no underwriting relationships, so we publish independent research before, during, and after every IPO. Our ratings are based solely on fundamental analysis, not deal economics.

Every subscription includes: pre-IPO research reports with investment ratings, proprietary DCF financial models with adjustable assumptions, IPO calendar and pipeline tracker, real-time email alerts when new filings and research are published, historical IPO database (11,000+ deals), market commentary and sector analysis, and access to our web-based research portal. Subscribers also receive proprietary meeting prep materials and scheduled consultations with our senior IPO analysts.

Yes. IPO Intelligence covers all major U.S. IPOs and significant international listings that are institutionally investable on U.S. markets, including cross-listed ADRs and foreign private issuers filing with the SEC. Our global coverage ensures you are never caught off-guard by a major deal regardless of where the issuer is domiciled.

We publish our pre-IPO research within days of a deal filing its final terms — well ahead of pricing. For large, high-profile transactions, research is typically available within 24 to 48 hours of the S-1 or F-1 amendment. Our goal is to ensure you have actionable analysis with enough time to complete your own due diligence before the allocation window closes.

Each IPO model is built from scratch by our analysts using the issuer's SEC filings. Models include a full three-statement forecast, discounted cash flow valuation, comparable company analysis, and an IPO-specific scenario analysis. All assumptions are transparent and adjustable, so your team can stress-test the valuation against your own views without rebuilding the model from scratch.

Research reports are delivered in PDF format and are accessible through our web-based portal. Financial models are provided in Excel. Real-time alerts are delivered via email. For clients with specific integration requirements, our team can discuss data delivery options during onboarding.

After submitting a trial request, a member of our team will contact you to confirm your firm's eligibility and schedule a brief onboarding call. During onboarding, we walk you through the platform, configure your alert preferences, and ensure your team is set up to get maximum value from day one. Full platform access is provided during the trial period.

IPO Intelligence is designed for institutional investors and industry professionals. Eligible firms include registered investment advisers, hedge funds, mutual funds, pension funds, endowments, investment banks, and similar institutional entities. Individual retail investors are not eligible for a subscription.

Most clients are fully onboarded within one business day. Our team handles platform setup, user provisioning, and alert configuration. We also schedule a 30-minute orientation call with a senior analyst to review current pipeline coverage and answer any initial questions about the research methodology.

The annual subscription is priced based on your firm's size and usage requirements. Please contact our team or request a trial to receive a current quote. Pricing includes access for multiple users and covers the full platform — research reports, financial models, alerts, and analyst consultations.

The base subscription includes access for up to 6 users. Additional user licenses are available. Enterprise pricing for larger teams is available upon request.

Subscriptions are billed annually. Multi-year agreements are available and may include preferential pricing. All subscription terms, including renewal and cancellation provisions, are outlined in the client services agreement provided at the time of onboarding.

The standard subscription is an annual commitment. We do not offer month-to-month access. Given that IPO activity is cyclical and deal flow can surge at any time, an annual subscription ensures your team is covered when the market opens — not scrambling to get access after a major deal is announced.

No. Renaissance Capital is fully independent and has no underwriting, banking, or brokerage relationships. We do not participate in IPO syndicates, do not receive underwriting fees, and have no financial interest in any deal we cover. This independence is the foundation of our research and the primary reason institutional investors trust our ratings.

Because we have no underwriting or advisory relationships, the traditional sell-side conflicts do not apply to our research. Our analysts are compensated based on the quality and accuracy of their research, not on deal volume or client relationships with issuers. Our ratings and price targets are published before pricing and are not revised to accommodate issuer preferences.

Many of our institutional clients incorporate our research reports and financial models into their internal investment committee documentation and compliance records. However, we recommend consulting your firm's compliance team regarding specific documentation requirements, as these vary by regulatory jurisdiction and firm policy.