ICE and OPEN unveils new benchmark for tracking large U.S. Venture-Backed Unicorns
Takeaway Points
- ICE and OPEN unveil a new benchmark for tracking large U.S. venture-backed unicorns.
- The NYSE OPEN Venture Capital Unicorn Index is designed to track the performance of 50 large U.S.-based Unicorns.
What did ICE and OPEN Unveil?
Intercontinental Exchange, Inc., a leading global provider of technology and data, and OPEN on Monday said that it has launched the NYSE OPEN Venture Capital Unicorn Index (NYSEOVC), a new benchmark for a basket of U.S.-based, privately held, and venture-backed unicorn companies. The aim is to help track large U.S. venture-backed unicorns.
This index and the pricing supporting it represent a paradigm shift in evaluating innovative private companies, continuing to advance this era of opportunity for investors seeking to monitor and track high-growth venture-backed private companies using a robust yet transparent methodology, ICE said in a statement.
David Shapiro, CEO at OPEN, said, “We are thrilled to introduce the NYSE® OPEN Venture Capital Unicorn® Index, a key development in the evolution of bridging public and private markets. By applying our rigorous new approach to valuing privately held companies and working with ICE to calculate and administer the index, we’re bringing a deeper level of transparency to some of the most innovative and fastest-growing private companies in the U.S.”
Preston Peacock, Head of ICE Data Indices, commented, “OPEN’s methodology for valuing privately held companies offers deeper insights into the growth we’re seeing across the broader venture-backed tech industry. As part of the ICE family of indices, this new index will be part of ICE’s suite of offerings supporting the entire index and ETF lifecycle, which ranges from securities pricing and index creation all the way to listing and trading ETFs on the New York Stock Exchange.
The NYSE OPEN Venture Capital Unicorn Index is designed to track the performance of 50 large U.S.-based Unicorns.
About OPEN
OPEN is bringing the revolution of index investing to late-stage venture capital, enabling better access to the world’s most innovative private unicorns. Our mission is to offer access to venture capital with a low-fee, institutional-grade product. With a relentless focus on fee reduction and the power of index investing, we are committed to enabling access to this asset class for all investors.
About Intercontinental Exchange
NYSEOVC is administered by ICE Data Indices, LLC. Additional, important information regarding the index, including methodology and limitations, is available at indices.ice.com. Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes, helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges—including the New York Stock Exchange—and clearing houses help people invest, raise capital, and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services, and execution capabilities provide information, analytics, and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration, and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunity.
