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The Forge Private Market Index

Benchmark for actively traded private companies

The Forge Private Market Index reflects the up-to-date performance and pricing activity of venture-backed, late-stage companies that are actively traded in the private market.

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Sila Nanotechnologies$14.17Positive Change$1.02 (8%)
Collective Health$0.18Negative Change$0.02 (10%)
Cribl$4.86Negative Change$0.09 (2%)
Eight Sleep$6.99Positive Change$0.18 (3%)
Postman$10.40Positive Change$0.01 (0%)
Egnyte$8.49Negative Change$0.01 (0%)
Avathon$4.43Negative Change$0.37 (8%)
Lucid$16.44Negative Change$1.49 (8%)
Lyten$7.20Positive Change$1.90 (36%)
Apptronik$36.97Positive Change$0.51 (1%)
Shield AI$87.54Positive Change$2.14 (3%)
Dragos$20.00Positive Change$4.92 (33%)
BigID$1.93Positive Change$0.02 (1%)
SiSense$0.40Negative Change$1.16 (74%)
iCapital Network$7.50Negative Change$2.05 (21%)
Menlo Security$2.47Positive Change$0.03 (1%)
DailyPay$19.90Positive Change$1.69 (9%)
Abridge$170.00Negative Change$19.00 (10%)
Addepar$3.44Negative Change$0.03 (1%)
Divergent$32.21Positive Change$2.96 (10%)
What is the Forge Price™ shown above?Info
All ticker data above updated as of: 1/22/26
Index Performance of Hypothetical $10,000
Green down chevron
Forge Private Market Index
SPY
QQQ
IWM
IPO
Annual Returns 2019 2020 2021 2022 2023 2024 2025 2026 YTD
Forge Private Market Index 34.4% 72.3% 112.9% -44.3% -20.2% 6.7% 94.7% 2.1%
IPO ETF 33.7% 107.3% -10.3% -57.3% 52.5% 15.5% 4.8% 2.6%
Powered by Forge Data IconPowered by Forge Data

Non-Forge Private Market Index data from Quandl and Sharadar.

The performance of the Forge Private Market Index above does not represent the performance of any actual investment, as you cannot invest in the index, but rather reflects the hypothetical growth of a $10,000 investment in a basket of securities based on the Index. Read additional disclaimers.

Index composition

Companies

Chevron
Chevron
Reset
Name Sector Subsector Weight Return QTD Return YTD
Addepar
Addepar
Fintech / Fintech Software
Chevron
Return QTD
4%
Weight
2.03%
Return YTD
4%
 Fintech Fintech Software 2.03% 4% 4%
Airtable
Airtable
Enterprise Software / Communication & Collaboration Software
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Enterprise Software Communication & Collaboration Software 1.96% 0% 0%
Anduril
Anduril
Industrial / Aerospace & Defense
Chevron
Return QTD
2%
Weight
1.99%
Return YTD
2%
 Industrial Aerospace & Defense 1.99% 2% 2%
Anthropic
Anthropic
Enterprise Software / Data Intelligence
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Enterprise Software Data Intelligence 1.96% 0% 0%
Apptronik
Apptronik
Industrial / Robotics
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Industrial Robotics 1.96% 0% 0%
Automation Anywhere
Automation Anywhere
Enterprise Software / Productivity
Chevron
Return QTD
1%
Weight
1.98%
Return YTD
1%
 Enterprise Software Productivity 1.98% 1% 1%
Ayar Labs
Ayar Labs
Technology Hardware / Computing Hardware
Chevron
Return QTD
8%
Weight
2.11%
Return YTD
8%
 Technology Hardware Computing Hardware 2.11% 8% 8%
Cerebras
Cerebras
Technology Hardware / Computing Hardware
Chevron
Return QTD
15%
Weight
2.26%
Return YTD
15%
 Technology Hardware Computing Hardware 2.26% 15% 15%
Chainalysis
Chainalysis
Fintech / Blockchain Software
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Fintech Blockchain Software 1.96% 0% 0%
ConsenSys
ConsenSys
Fintech / Blockchain
Chevron
Return QTD
-1%
Weight
1.95%
Return YTD
-1%
 Fintech Blockchain 1.95% -1% -1%
Cresta
Cresta
Enterprise Software / Business Operations
Chevron
Return QTD
-14%
Weight
1.68%
Return YTD
-14%
 Enterprise Software Business Operations 1.68% -14% -14%
Databricks
Databricks
Enterprise Software / Data Intelligence
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Enterprise Software Data Intelligence 1.96% 0% 0%
Dataminr
Dataminr
Enterprise Software / Data Intelligence
Chevron
Return QTD
-7%
Weight
1.82%
Return YTD
-7%
 Enterprise Software Data Intelligence 1.82% -7% -7%
Epic Games
Epic Games
Consumer & Lifestyle / Gaming
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Consumer & Lifestyle Gaming 1.96% 0% 0%
EquipmentShare
EquipmentShare
Industrial / Construction
Chevron
Return QTD
0%
Weight
1.95%
Return YTD
0%
 Industrial Construction 1.95% 0% 0%
Flexport
Flexport
Industrial / Logistics
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Industrial Logistics 1.96% 0% 0%
FloQast
FloQast
Enterprise Software / Business Operations
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Enterprise Software Business Operations 1.96% 0% 0%
Gecko Robotics
Gecko Robotics
Industrial / Robotics
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Industrial Robotics 1.96% 0% 0%
Glean
Glean
Enterprise Software / Data Intelligence
Chevron
Return QTD
-4%
Weight
1.88%
Return YTD
-4%
 Enterprise Software Data Intelligence 1.88% -4% -4%
Groq
Groq
Enterprise Software / Data Intelligence
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Enterprise Software Data Intelligence 1.96% 0% 0%
Harness
Harness
Enterprise Software / Software Development
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Enterprise Software Software Development 1.96% 0% 0%
Intercom
Intercom
Enterprise Software / Sales & Marketing / Adtech
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Enterprise Software Sales & Marketing / Adtech 1.96% 0% 0%
Kraken
Kraken
Fintech / Blockchain
Chevron
Return QTD
2%
Weight
2.01%
Return YTD
2%
 Fintech Blockchain 2.01% 2% 2%
Lambda
Lambda
Enterprise Software / Cloud / Networking Infrastructure
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Enterprise Software Cloud / Networking Infrastructure 1.96% 0% 0%
Lightmatter
Lightmatter
Technology Hardware / Computing Hardware
Chevron
Return QTD
6%
Weight
2.07%
Return YTD
6%
 Technology Hardware Computing Hardware 2.07% 6% 6%
Liquid Death
Liquid Death
Foodtech / Food Products & Services
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Foodtech Food Products & Services 1.96% 0% 0%
Lyten
Lyten
Transportation / Electric Vehicles
Chevron
Return QTD
36%
Weight
2.67%
Return YTD
36%
 Transportation Electric Vehicles 2.67% 36% 36%
Mercury
Mercury
Fintech / Digital Banking
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Fintech Digital Banking 1.96% 0% 0%
Neuralink
Neuralink
Healthcare / Medical Devices
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Healthcare Medical Devices 1.96% 0% 0%
OpenAI
OpenAI
Enterprise Software / Data Intelligence
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Enterprise Software Data Intelligence 1.96% 0% 0%
Perplexity
Perplexity
Enterprise Software / Data Intelligence
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Enterprise Software Data Intelligence 1.96% 0% 0%
Polymarket
Polymarket
Fintech / Blockchain
Chevron
Return QTD
18%
Weight
2.31%
Return YTD
18%
 Fintech Blockchain 2.31% 18% 18%
Postman
Postman
Enterprise Software / Software Development
Chevron
Return QTD
-1%
Weight
1.94%
Return YTD
-1%
 Enterprise Software Software Development 1.94% -1% -1%
PsiQuantum
PsiQuantum
Technology Hardware / Computing Hardware
Chevron
Return QTD
4%
Weight
2.03%
Return YTD
4%
 Technology Hardware Computing Hardware 2.03% 4% 4%
Ramp
Ramp
Fintech / Digital Banking
Chevron
Return QTD
0%
Weight
1.95%
Return YTD
0%
 Fintech Digital Banking 1.95% 0% 0%
Redwood Materials
Redwood Materials
Energy / Energy Storage
Chevron
Return QTD
-1%
Weight
1.94%
Return YTD
-1%
 Energy Energy Storage 1.94% -1% -1%
Ripple
Ripple
Fintech / Payments
Chevron
Return QTD
-8%
Weight
1.79%
Return YTD
-8%
 Fintech Payments 1.79% -8% -8%
Rippling
Rippling
Enterprise Software / Human Resources
Chevron
Return QTD
18%
Weight
2.31%
Return YTD
18%
 Enterprise Software Human Resources 2.31% 18% 18%
SambaNova Systems
SambaNova Systems
Enterprise Software / Data Intelligence
Chevron
Return QTD
5%
Weight
2.06%
Return YTD
5%
 Enterprise Software Data Intelligence 2.06% 5% 5%
SandboxAQ
SandboxAQ
Enterprise Software / Data Intelligence
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Enterprise Software Data Intelligence 1.96% 0% 0%
Shield AI
Shield AI
Industrial / Aerospace & Defense
Chevron
Return QTD
1%
Weight
1.97%
Return YTD
1%
 Industrial Aerospace & Defense 1.97% 1% 1%
SpaceX
SpaceX
Industrial / Aerospace & Defense
Chevron
Return QTD
6%
Weight
2.07%
Return YTD
6%
 Industrial Aerospace & Defense 2.07% 6% 6%
Stripe
Stripe
Fintech / Payments
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Fintech Payments 1.96% 0% 0%
Tanium
Tanium
Enterprise Software / Cybersecurity
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Enterprise Software Cybersecurity 1.96% 0% 0%
The Farmer's Dog
The Farmer's Dog
Foodtech / Food Products & Services
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Foodtech Food Products & Services 1.96% 0% 0%
Thinking Machines Lab
Thinking Machines Lab
Enterprise Software / Data Intelligence
Chevron
Return QTD
0%
Weight
1.96%
Return YTD
0%
 Enterprise Software Data Intelligence 1.96% 0% 0%
Thrive Market
Thrive Market
Foodtech / Food Products & Services
Chevron
Return QTD
5%
Weight
2.07%
Return YTD
5%
 Foodtech Food Products & Services 2.07% 5% 5%
Upgrade
Upgrade
Fintech / Digital Banking
Chevron
Return QTD
1%
Weight
1.97%
Return YTD
1%
 Fintech Digital Banking 1.97% 1% 1%
xAI
xAI
Enterprise Software / Data Intelligence
Chevron
Return QTD
5%
Weight
2.05%
Return YTD
5%
 Enterprise Software Data Intelligence 2.05% 5% 5%
Zipline
Zipline
Transportation / Delivery Services
Chevron
Return QTD
5%
Weight
2.07%
Return YTD
5%
 Transportation Delivery Services 2.07% 5% 5%

Sector allocation

Enterprise Software41.2%
Fintech19.9%
Industrial13.9%
Technology Hardware8.5%
Foodtech6.0%
Transportation4.7%
Consumer & Lifestyle2.0%
Healthcare2.0%
Energy1.9%

Methodology

The index is valued daily, with daily website updates and annual rebalance and reconstitution.
  • The index includes U.S. domiciled companies that have raised at least one round of primary funding and have higher relative secondary liquidity in the past 12 months.
  • Companies are selected for index inclusion based on a proprietary scoring model which incorporates key pricing and liquidity information such as closed trade prices, volume, and bid/ask pricing indications.

Designed for both existing and new private market participants

Benchmark for actively traded private companies with secondary liquidity.

Measure the performance of venture backed, late-stage companies relative to other asset classes.

Research new investment ideas and manage existing private positions.

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“Index Performance of Hypothetical $10,000” chart full disclaimer with respect to Forge Private Market Index performance:
The chart above does not represent the performance of any actual investment, as you cannot invest in an index. Additionally, it assumes reinvestment of dividends and capital gains in the constituent securities but does not reflect any fees or commissions that may be incurred in purchasing or selling such securities, which would lower the figures shown if included. Further, $10,000 may not be a sufficient amount to invest simultaneously in all securities contributing to the performance shown, which would further prevent an investor from matching the performance shown. The performance shown represents past performance, and past performance is not indicative of future results.

Neither reference to company names, nor inclusion of companies in the Forge Private Market Index, implies any affiliation between Forge or its affiliates and any company, any endorsement or sponsorship of Forge or its affiliates by any company or vice versa, or any partnership, joint venture or other commercial relationship between Forge or its affiliates and any company. Rights with respect to any company marks referred to herein are, as between Forge and its affiliates and such company, owned by the company.

© 2025 Forge Data LLC (“Forge Data”). All rights reserved. The Forge Private Market Index is calculated and disseminated by Forge Data and is a mark of Forge Data. The Forge Private Market Index is solely for informational purposes and is based upon information from sources believed to be reliable. It is not possible to invest in the Forge Private Market Index, and Forge Data makes no assurance that any investment products based on or underlying the Forge Private Market Index will accurately track index performance or provide positive investment returns. Forge Data is not an investment adviser and makes no representation regarding the advisability of investing in any asset classes or investment vehicles. Private company securities are highly illiquid, and the Forge Private Market Index may rely on a very limited number of trade and/or IOI inputs in its calculation. Brokerage products and services are offered by Forge Securities LLC, a registered broker-dealer and member FINRA/SIPC. Please see Forge Private Market Index Disclaimers & Acknowledgments for other important disclaimers, disclosures and restrictions related to the Forge Private Market Index that you acknowledge by using this website and to which you are subject.