Year to Date Return on the Index is 25.16% A record 15 private companies joined the Index, while five left.
The Prime Unicorn Index, the first index to track the share price performance of privately-funded U.S. companies, announced today its quarterly reconstitution. The index, which gives equal-weighting to its constituents, has added a record 15 companies that qualify as Unicorns or Approaching Unicorns. Five companies have left the index – two have had successful IPOs and three were acquired.
Companies qualify as Unicorns when they have a valuation of $1 billion or more, while companies that have achieved $500 million valuations are classified as Approaching Unicorns, and are also included in the Prime Unicorn Index.
Reconstitution of the index relies heavily on Lagniappe Labs’ proprietary research and difficult-to-source, objective data to determine true valuations of privately-funded companies in a measurable and verifiable way.
The companies added to the index include Neutron Holdings, Inc. (DBA: Lime), Roblox Corporation, ClassPass Inc., The RealReal Inc., Marqeta Inc., Innovium Inc., Desktop Metal, Inc., Cybereason Inc., American Well Corporation, GitLab, Inc., OpenDoor Labs, Inc., ForgeRock, Inc, MetroMile Inc., Modernized Medicine Inc. and Devoted Health Inc. The reconstitution was effective at market close on Oct. 17, 2018.
“The Prime Unicorn Index serves to benchmark the performance of private companies in line with how the S&P 500 Index tracks publicly traded companies,” said Ross Barrett, CEO and founder of the Index. “We are excited to be the primary resource for investors and help them better understand how to assign the true valuation of private companies as they look to go public or be acquired.”
With private companies dominating various sectors of the economy of late, institutional investors are increasingly looking for opportunities to participate in the upside of investing in the companies or to explore ways to offset exposure they may have in investments in publicly traded companies.
“These are just a couple ways to trade the Prime Unicorn Index,” said Barrett. “At a minimum, the Index affords institutional investors a unique opportunity to access the private markets and make an investment on its future, whether they want to go long or short. This access to long or short exposure has not existed in the past.”
For more information, please visit PrimeUnicornIndex.com. To explore licensing opportunities regarding the Index, call (646) 429-0949.
About The Prime Unicorn Index
The Prime Unicorn Index is an equally-weighted price return index that measures the share price performance of U.S. private companies valued at $500 million or more. The price changes of component companies are derived from publicly available information associated with company transactions, filings, and other disclosures. The index provides empirical data to asset managers and financial advisors interested in tracking today’s private capital markets. The index is designed for use in the creation of financial products and as a performance benchmark. The Bloomberg Ticker is PUNICORN, while the Reuters Ticker is .PUNICORN.
About Lagniappe Labs
Lagniappe Labs uses state, federal and difficult-to-acquire corporate filings in a fully configurable platform that allows users to analyze the value of privately held companies. The technology provides tools and data to build financial models on specific sectors, people, industries, investors and more. Lagniappe Labs federates disparate sources of information to drive objective analysis on private company investments.