Stout is pleased to present our latest Technology Industry Update report. This report focuses on impact investing and ESG in the tech sector tracking the three largest segments of the impact investing universe: health tech, clean tech, and education tech. We analyze trends in public market valuations, M&A activity, and financings from the end of 2021 through the first quarter of 2023.

We hope that you find this report helpful and that it serves as a valuable resource to you in staying up to date on the market. We look forward to staying in touch and encourage you to contact us directly if you would like to discuss our perspectives on current market trends or potential M&A opportunities, or to discuss our relevant advisory experience.

Overview for This Edition:

• Impact Opportunities in Tech: Health Tech, Clean Tech, and Education Tech
• Trends in Tech Impact Investing Within the Lower Middle Market
• Private Company Financing and M&A in the Lower Middle Market