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Morningstar Introduces Morningstar PitchBook Unicorn 30 Index
Morningstar adds to its growing suite of global indexes providing more transparency into the late-stage venture capital market for a range of investor use
About this update from Morningstar, Inc.
[{"type":"text","content":"\nMorningstar adds to its growing suite of global indexes providing more transparency into the late-stage venture capital market for a range of investor use cases, from benchmarking to investable product creation.\n\n\n CHICAGO--(BUSINESS WIRE)--\nMorningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment insights, today introduces the Morningstar® PitchBook® Unicorn 30 Index (UI30), adding to its expanding suite of market data, research and index tools to help investors measure and access the late-stage venture capital market. Powered by PitchBook’s extensive private capital market data coverage, the new index tracks the 30 largest and most liquid “unicorns,” or late-stage venture capital-backed private companies valued at $1 billion or more, providing investors with access to some of the most innovative and fastest growing companies across developed global markets.\n\n\nBuilt for investability, the new index employs screens to address liquidity challenges and is calculated daily with a market-driven pricing model that combines actual transaction data from multiple secondary market price aggregators.\n\n\n“Private markets continue to grow in scope and investor interest as private companies become a much bigger part of the economic picture. From an individual investor standpoint, however, access to private markets has historically been a challenge, with available investment tools underdelivered,” said Ron Bundy, president of Morningstar Sustainalytics & Morningstar Indexes. “We believe that trend is changing, however, and are excited to help expand the investable universe for all investors through our growing suite of unicorn indexes.”\n\n\nThe Unicorn 30 Index was developed as part of an ongoing collaboration between Morningstar Indexes, the fastest growing global index provider for the last three years, and PitchBook, the leading provider of data, research and tools on global private capital and credit markets. The index provides access to some of the most innovative and fastest growing late-stage venture capital companies such as SpaceX, Stripe, OpenAI and SHEIN. PitchBook’s extensive database is the key input powering the pricing model, enabling investors to track the most promising investment opportunities within the private markets.\n\n\n“The private capital markets have become a vital engine for transf...