Ticker LaunchUS IPO underwriters league table, since 2019
The most active US IPO underwriters since 2019, ranked by deals led as lead-left underwriter. Goldman Sachs ranks first with 221 deals.
All years 2026 2025 2024 2023 2022 2021 2020 2019
| # | Firm | Deals as lead-left | Deals in any role | Proceeds of deals led | Median deal led |
|---|---|---|---|---|---|
| 1 | Goldman Sachs | 221 | 351 | $141.31B | $389M |
| 2 | Morgan Stanley | 141 | 320 | $91.81B | $312.2M |
| 3 | J.P. Morgan | 128 | 325 | $49.23B | $250.8M |
| 4 | BofA Securities | 94 | 290 | $129.29B | $171.5M |
| 5 | Benchmark | 57 | 81 | $1.09B | $12.1M |
| 6 | Maxim Group | 49 | 59 | $609.4M | $12M |
| 7 | Jefferies | 46 | 218 | $8.03B | $120.8M |
| 8 | ThinkEquity | 43 | 44 | $712.8M | $15M |
| 9 | Boustead | 30 | 33 | $431M | $14.4M |
| 10 | Citigroup | 29 | 200 | $7.85B | $171M |
| 11 | Roth Capital | 28 | 58 | $664.9M | $22M |
| 12 | Barclays | 27 | 168 | $13.73B | $270M |
| 13 | Craft Capital | 22 | 24 | $256.5M | $6M |
| 14 | Kingswood | 21 | 24 | $248M | $8.9M |
| 15 | Aegis Capital | 19 | 21 | $319.6M | $15.5M |
| 16 | Network 1 | 19 | 22 | $318.8M | $17.6M |
| 17 | Credit Suisse | 18 | 131 | $6.52B | $258.5M |
| 18 | US Tiger | 17 | 61 | $173.7M | $6.1M |
| 19 | Dominari | 17 | 18 | $153.2M | $7M |
| 20 | Stifel | 14 | 162 | $1.84B | $91.7M |
| 21 | Leerink Partners | 13 | 86 | $2.06B | $84M |
| 22 | WestPark | 13 | 18 | $129M | $7.5M |
| 23 | Cathay Securities | 13 | 14 | $91.6M | $8.6M |
| 24 | B. Riley | 12 | 22 | $884M | $42.6M |
| 25 | EF Hutton | 12 | 16 | $298.3M | $10.3M |
| 26 | Revere | 12 | 32 | $74.6M | $6M |
| 27 | Spartan Capital | 11 | 15 | $120.6M | $10.3M |
| 28 | D. Boral Capital | 11 | 14 | $102.9M | $6.7M |
| 29 | Piper Sandler | 10 | 140 | $847.6M | $72.5M |
| 30 | A.G.P. | 10 | 12 | $117M | $10M |
| 31 | Bancroft | 10 | 11 | $57.3M | $8M |
| 32 | Raymond James | 9 | 89 | $791.3M | $97.5M |
| 33 | Cantor | 9 | 55 | $660.1M | $63.3M |
| 34 | Univest | 9 | 10 | $169.3M | $24.5M |
| 35 | Prime Number | 9 | 19 | $110.5M | $12.7M |
| 36 | R.F. Lafferty | 9 | 26 | $76.2M | $8.4M |
| 37 | UBS | 8 | 130 | $8.37B | $479.6M |
| 38 | TD Cowen | 8 | 137 | $1.07B | $114.8M |
| 39 | Dawson James | 8 | 12 | $81.9M | $6.7M |
| 40 | Alexander Capital | 7 | 8 | $65.3M | $12.1M |
| 41 | Deutsche Bank | 6 | 87 | $483.4M | $64M |
| 42 | Oppenheimer | 6 | 64 | $280.6M | $34.9M |
| 43 | H.C. Wainwright | 6 | 18 | $177.1M | $20.1M |
| 44 | ViewTrade | 6 | 9 | $72.5M | $11.6M |
| 45 | BMO Capital Markets | 5 | 78 | $621.7M | $150M |
| 46 | Laidlaw | 5 | 8 | $53.9M | $10M |
| 47 | AC Sunshine | 5 | 5 | $43M | $8M |
| 48 | WallachBeth Capital | 5 | 6 | $34.3M | $6.6M |
| 49 | Benjamin | 5 | 5 | $32.2M | $7M |
| 50 | Wells Fargo | 4 | 107 | $553.5M | $117.2M |
Lead-left is the first bank named on the final prospectus cover; proceeds (base deal, before the over-allotment) are credited in full to that bank. "Any role" counts every bank on the cover. Based on the 1377 deals with underwriters on record.
Other tables: US IPO law firms · SPAC IPO underwriters · SPAC IPO law firms
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