Enhanced Private Tech30 Index
The Enhanced Private Tech30 Index is comprised of 30 U.S. based, venture-backed, technology companies whose valuations can be reasonably approximated based on available Delaware (or other state) filings, active trading or indications of interest in the secondary markets, as well as company and third-party disclosures.
The index level is updated on a monthly basis; companies are added and/or removed on a quarterly basis.
The pricing and associated proprietary secondary "market cap" of each component in each period is calculated by considering:
- Secondary trading activity (trades executed and disclosed tender offers),
- Latest primary financing rounds, and
- Active, validated bid/ask orders per each component.
Each of these inputs is weighted proportionally based on recency and size of transaction relative to the issuer.
Once the respective company market caps have been established, their respective impact within the index is adjusted. The Enhanced Private Tech30 Index prevents any company from ever comprising more than 3.33% of the total sum index market capitalization (e.g., equally weighted).
To be part of the Enhanced Private Tech30 Index, a company must be:
- Venture-capital backed,
- A stand-alone firm (i.e., not wholly or majority PE-owned or a subsidiary of a larger corporation),
- A technology, or substantially technology reliant, corporation,
- Accessible, or believed to be accessible, via the private secondary markets,
- A C-corp. Significant reporting limitations on LLCs and Partnerships make valuation assessment extremely challenging, and
- Free of fraud and/or mismanagement. Public, verified accusations and investigations relating to fraud or criminal mismanagement will result in prompt removal from the index.
- Deemed suitable per our data-driven proprietary assessment metrics.
Top 10 Index Components