Jun 9, 2026 · 53 min · 15 segments
AI is creating 'zombie companies' and the next wave of winners may never go public. VanEck's Head of Private Growth Strategies Christian Munafo reveals how to find them, why IPOs are still stalled…
If you have an interest in getting exposure for you or your clients to private innovation or innovation in general, you have to look outside listed markets because by the time they go public, if they go public, you've missed out, right, on a substantial run-up, um, in, in value.
And then on top of that, to make things worse, two-thirds of venture-backed companies, for example, get acquired.
So a public investor never even has a chance at investing in that business, um, unless they hit certain suitability standards.
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If you have an interest in getting exposure for you or your clients to private innovation or innovation in general, you have to look outside listed markets because by the time they go public, if they go public, you've missed out, right, on a substantial run-up, um, in, in value.
And then on top of that, to make things worse, two-thirds of venture-backed companies, for example, get acquired.
So a public investor never even has a chance at investing in that business, um, unless they hit certain suitability standards.
