Q1 IPO Review: Flash Back to 1970 –

For more than a year, VCs have asked how much slower the private equity-backed IPO market can get. The answer may be that it could grind to a halt.

Only one U.S.-based, ventured-backed company went public in the first quarter of this year. That’s the lowest total since Venture Economics began tracking venture-backed IPOs in 1970. (That was the same year Diana Ross scored a hit with “Ain’t No Mountain High Enough.”) The lucky company was Accredited Home Lenders Inc., a San Diego-based provider of wholesale mortgage services on residential loans. Accredited priced 9.65 million shares at $8 apiece. The stock closed was trading for $9.44 per share on April 7, good news for the company’s backers-Crosspoint Venture Partners and Enterprise Partners.