It seems there's an increasing number of buyers trying to acquire companies with little-to-no cash up front, but there's still plenty of companies available at attractive multiples to buyers ready, willing and able to pay <65% of consideration up front (with that now being the lower limit some brokers are using to screen those showing an interest in their marketed companies)

Possibly in the self-funded space, but the tradition SF model still seems to have plenty of room to grow