{"id":227375,"date":"2025-07-16T10:30:00","date_gmt":"2025-07-16T14:30:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=227375"},"modified":"2025-07-16T10:42:54","modified_gmt":"2025-07-16T14:42:54","slug":"a-blessing-of-unicorns","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/a-blessing-of-unicorns\/","title":{"rendered":"A blessing of unicorns*"},"content":{"rendered":"\n

How rare are unicorns? It depends who you ask. White horses with single, spiralled horns don\u2019t exist in the real world<\/em>, unless you\u2019re a small child that hasn\u2019t yet been disabused of fairy tales. Some readers may therefore be surprised to learn that over 30 new unicorns have been created in 2025 so far. <\/strong>What used to be a rarity in the world of tech has now become increasingly commonplace \u2013 the private company valued at over $1bn.<\/p>\n\n\n\n

The growing presence of unicorns can largely be explained by one factor. No surprises for guessing: it\u2019s artificial intelligence<\/strong>. Not only can the technology help businesses scale more quickly and <\/em>at a lower cost, but also many<\/strong>investors remain desperate to grab a piece of the action<\/strong>. AI FOMO is pumping start-up valuations and hence increasing unicorn ubiquity. If we are in the trough of disillusionment<\/a> for the technology, then no-one has told the VC firms of Silicon Valley.<\/p>\n\n\n\n

The new unicorn club is, however, not just an AI-only collective. Sure, businesses such as Anysphere<\/a>, Cognition<\/a>, Hightouch<\/a> and Tines<\/a> may all be standard bearers for the technology, but other industries are also well-represented. Abridge<\/a> and Function<\/a> are noteworthy health-tech unicorns<\/strong>. Fleetio<\/a>, a business which provides fleet management software, is valued at $1.5bn. Even Olipop<\/a>, a beverage maker, features on the list. TechCrunch<\/a> estimates that 36 new unicorn businesses have been minted year-to-date.<\/p>\n\n\n\n

Two questions arise. First, when will the bubble burst? As we have argued regularly<\/a>, AI is upending the world and so new use-cases are constantly being created<\/strong>. With a scarcity of pure-play options in public markets, many investors are turning increasingly to private opportunities. Next, if the birthing of unicorns is becoming more normal, what comes next? Some<\/a> have proposed the rise of the ultra-unicorn<\/strong>, or a private company valued at over $5bn. When your author visits California for business after the summer, he will keep his eyes peeled for these somewhat mythical beasts.   <\/p>\n\n\n\n

*For the unaware, the collective noun for a group of unicorns is a \u2018blessing.\u2019<\/p>\n\n\n\n

—<\/p>\n\n\n\n

Originally Posted on July 16, 2025 – A blessing of unicorns*<\/a><\/p>\n\n\n\n

Disclaimers<\/h2>\n\n\n\n

The document is provided for information purposes only and does not constitute investment advice or any recommendation to buy, or sell or otherwise transact in any investments. The document is not intended to be construed as investment research. The contents of this document are based upon sources of information which Heptagon Capital LLP believes to be reliable. However, except to the extent required by applicable law or regulations, no guarantee, warranty or representation (express or implied) is given as to the accuracy or completeness of this document or its contents and, Heptagon Capital LLP, its affiliate companies and its members, officers, employees, agents and advisors do not accept any liability or responsibility in respect of the information or any views expressed herein. Opinions expressed whether in general or in both on the performance of individual investments and in a wider economic context represent the views of the contributor at the time of preparation<\/strong>. Where this document provides forward-looking statements which are based on relevant reports, current opinions, expectations and projections, actual results could differ materially from those anticipated in such statements. All opinions and estimates included in the document are subject to change without notice and Heptagon Capital LLP is under no obligation to update or revise information contained in the document. Furthermore, Heptagon Capital LLP disclaims any liability for any loss, damage, costs or expenses (including direct, indirect, special and consequential) howsoever arising which any person may suffer or incur as a result of viewing or utilising any information included in this document. <\/p>\n\n\n\n

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