JPMorgan Tops Q1 Tech Banking With 16.7% Share as Startup Strategy Pays Off
Updated
Updated · Reuters · May 14
JPMorgan Tops Q1 Tech Banking With 16.7% Share as Startup Strategy Pays Off
9 articles · Updated · Reuters · May 14
16.7% of global tech investment-banking fees went to JPMorgan in the first quarter, putting it ahead of Goldman Sachs across underwriting, lending and M&A, according to LSEG and Dealogic.
550 bankers now cover JPMorgan's innovation-economy clients, including 200 hired since 2023, as the bank deepened an early-stage model and accelerated client and talent capture after Silicon Valley Bank's collapse.
11,000 startups and high-growth companies across 40 countries feed that pipeline, with relationships such as Pattern evolving from a $10 million startup financing to a $300 million IPO and DoorDash to a recent $3.9 billion Deliveroo deal.
Technology generated 22% of JPMorgan's $3.2 billion in first-quarter investment-banking fees, underscoring how its cross-selling approach is turning startup ties into a larger share of marquee tech transactions.
As one bank controls tech's future, are startups gaining a partner or losing their independence?
What is the hidden cost to the market when one bank becomes the primary gatekeeper for tech innovation?