Forge Index - Benchmark for Actively Traded Private Companies

Annual Returns	2019	2020	2021	2022	2023	2024	2025 YTD
Forge Private Market Index	34.4%	72.3%	112.9%	-44.3%	-20.2%	6.7%	36.1%
IPO ETF	35.0%	108.5%	-10.3%	-57.3%	52.5%	15.8%	1.2%

Annual Returns

2019

2020

2021

2022

2023

2024

2025 YTD

Forge Private Market Index

34.4%

72.3%

112.9%

-44.3%

-20.2%

6.7%

36.1%

IPO ETF

35.0%

108.5%

-10.3%

-57.3%

52.5%

15.8%

1.2%

Index composition

Companies

Sector

Subsector

Reset

Name	Sector	Subsector	Weight	Return QTD	Return YTD
6sense 6sense Enterprise Software / Sales & Marketing / Adtech Return QTD 0% Weight 1.43% Return YTD -4%	Enterprise Software	Sales & Marketing / Adtech	1.43%	0%	-4%
Addepar Addepar Fintech / Fintech Software Return QTD -12% Weight 1.32% Return YTD 40%	Fintech	Fintech Software	1.32%	-12%	40%
Anduril Anduril Industrial / Aerospace & Defense Return QTD 0% Weight 2.28% Return YTD 43%	Industrial	Aerospace & Defense	2.28%	0%	43%
Anthropic Anthropic Enterprise Software / Data Intelligence Return QTD -7% Weight 1.60% Return YTD 56%	Enterprise Software	Data Intelligence	1.60%	-7%	56%
Attentive Attentive Enterprise Software / Sales & Marketing / Adtech Return QTD -18% Weight 0.78% Return YTD -51%	Enterprise Software	Sales & Marketing / Adtech	0.78%	-18%	-51%
Automation Anywhere Automation Anywhere Enterprise Software / Productivity Return QTD 11% Weight 1.79% Return YTD -2%	Enterprise Software	Productivity	1.79%	11%	-2%
Cerebras Cerebras Technology Hardware / Computing Hardware Return QTD -14% Weight 1.19% Return YTD -25%	Technology Hardware	Computing Hardware	1.19%	-14%	-25%
Chainalysis Chainalysis Fintech / Blockchain Software Return QTD -3% Weight 1.35% Return YTD -8%	Fintech	Blockchain Software	1.35%	-3%	-8%
Chime Chime Fintech / Digital Banking Return QTD 1% Weight 1.90% Return YTD 27%	Fintech	Digital Banking	1.90%	1%	27%
ConsenSys ConsenSys Fintech / Blockchain Return QTD -2% Weight 1.57% Return YTD -2%	Fintech	Blockchain	1.57%	-2%	-2%
Databricks Databricks Enterprise Software / Data Intelligence Return QTD 0% Weight 1.75% Return YTD 12%	Enterprise Software	Data Intelligence	1.75%	0%	12%
Dataminr Dataminr Enterprise Software / Data Intelligence Return QTD 0% Weight 1.50% Return YTD -15%	Enterprise Software	Data Intelligence	1.50%	0%	-15%
Epic Games Epic Games Consumer & Lifestyle / Gaming Return QTD 0% Weight 1.57% Return YTD -2%	Consumer & Lifestyle	Gaming	1.57%	0%	-2%
EquipmentShare EquipmentShare Industrial / Construction Return QTD 0% Weight 2.03% Return YTD 27%	Industrial	Construction	2.03%	0%	27%
Fanatics Fanatics Consumer & Lifestyle / Clothing, Fashion, Beauty & Apparel Return QTD 0% Weight 1.60% Return YTD 0%	Consumer & Lifestyle	Clothing, Fashion, Beauty & Apparel	1.60%	0%	0%
Figma Figma Consumer & Lifestyle / Consumer & Lifestyle Enterprise Software Return QTD 0% Weight 1.93% Return YTD 44%	Consumer & Lifestyle	Consumer & Lifestyle Enterprise Software	1.93%	0%	44%
Figure AI Figure AI Industrial / Robotics Return QTD 0% Weight 18.10% Return YTD 1,140%	Industrial	Robotics	18.10%	0%	1,140%
FloQast FloQast Enterprise Software / Business Operations Return QTD 14% Weight 1.47% Return YTD -24%	Enterprise Software	Business Operations	1.47%	14%	-24%
Gecko Robotics Gecko Robotics Industrial / Robotics Return QTD 56% Weight 2.57% Return YTD 61%	Industrial	Robotics	2.57%	56%	61%
Glean Glean Enterprise Software / Data Intelligence Return QTD 0% Weight 1.89% Return YTD 28%	Enterprise Software	Data Intelligence	1.89%	0%	28%
Groq Groq Enterprise Software / Data Intelligence Return QTD 14% Weight 1.82% Return YTD 11%	Enterprise Software	Data Intelligence	1.82%	14%	11%
Harness Harness Enterprise Software / Software Development Return QTD 0% Weight 1.90% Return YTD 24%	Enterprise Software	Software Development	1.90%	0%	24%
Intercom Intercom Enterprise Software / Sales & Marketing / Adtech Return QTD -26% Weight 1.18% Return YTD -26%	Enterprise Software	Sales & Marketing / Adtech	1.18%	-26%	-26%
Kraken Kraken Fintech / Blockchain Return QTD -1% Weight 1.91% Return YTD 37%	Fintech	Blockchain	1.91%	-1%	37%
Lambda Lambda Enterprise Software / Cloud / Networking Infrastructure Return QTD -27% Weight 1.19% Return YTD -12%	Enterprise Software	Cloud / Networking Infrastructure	1.19%	-27%	-12%
Liquid Death Liquid Death Foodtech / Food Products & Services Return QTD -6% Weight 1.51% Return YTD -5%	Foodtech	Food Products & Services	1.51%	-6%	-5%
Netskope Netskope Enterprise Software / Cybersecurity Return QTD 12% Weight 1.77% Return YTD 24%	Enterprise Software	Cybersecurity	1.77%	12%	24%
OpenAI OpenAI Enterprise Software / Data Intelligence Return QTD 0% Weight 2.80% Return YTD 75%	Enterprise Software	Data Intelligence	2.80%	0%	75%
Perplexity Perplexity Enterprise Software / Data Intelligence Return QTD 0% Weight 1.62% Return YTD 6%	Enterprise Software	Data Intelligence	1.62%	0%	6%
Postman Postman Enterprise Software / Software Development Return QTD 3% Weight 1.66% Return YTD 14%	Enterprise Software	Software Development	1.66%	3%	14%
PsiQuantum PsiQuantum Technology Hardware / Computing Hardware Return QTD -20% Weight 3.20% Return YTD 121%	Technology Hardware	Computing Hardware	3.20%	-20%	121%
Ramp Ramp Fintech / Digital Banking Return QTD -1% Weight 1.78% Return YTD 26%	Fintech	Digital Banking	1.78%	-1%	26%
Rappi Rappi Transportation / Delivery Services Return QTD -11% Weight 1.43% Return YTD -9%	Transportation	Delivery Services	1.43%	-11%	-9%
Redwood Materials Redwood Materials Energy / Energy Storage Return QTD -3% Weight 1.45% Return YTD -5%	Energy	Energy Storage	1.45%	-3%	-5%
Ripple Ripple Fintech / Payments Return QTD 6% Weight 1.55% Return YTD 35%	Fintech	Payments	1.55%	6%	35%
Rippling Rippling Enterprise Software / Human Resources Return QTD 3% Weight 1.64% Return YTD 7%	Enterprise Software	Human Resources	1.64%	3%	7%
SambaNova Systems SambaNova Systems Enterprise Software / Data Intelligence Return QTD -45% Weight 0.87% Return YTD -38%	Enterprise Software	Data Intelligence	0.87%	-45%	-38%
SandboxAQ SandboxAQ Enterprise Software / Data Intelligence Return QTD 7% Weight 1.45% Return YTD -9%	Enterprise Software	Data Intelligence	1.45%	7%	-9%
Scale AI Scale AI Enterprise Software / Data Intelligence Return QTD 0% Weight 1.60% Return YTD 6%	Enterprise Software	Data Intelligence	1.60%	0%	6%
Shield AI Shield AI Industrial / Aerospace & Defense Return QTD 0% Weight 1.60% Return YTD 54%	Industrial	Aerospace & Defense	1.60%	0%	54%
SpaceX SpaceX Industrial / Aerospace & Defense Return QTD -5% Weight 1.38% Return YTD -3%	Industrial	Aerospace & Defense	1.38%	-5%	-3%
Stripe Stripe Fintech / Payments Return QTD 0% Weight 2.09% Return YTD 40%	Fintech	Payments	2.09%	0%	40%
TAE Technologies TAE Technologies Energy / Clean Energy Return QTD 0% Weight 1.63% Return YTD 5%	Energy	Clean Energy	1.63%	0%	5%
Tanium Tanium Enterprise Software / Cybersecurity Return QTD 0% Weight 1.60% Return YTD 0%	Enterprise Software	Cybersecurity	1.60%	0%	0%
The Farmer's Dog The Farmer's Dog Foodtech / Food Products & Services Return QTD 4% Weight 1.68% Return YTD 4%	Foodtech	Food Products & Services	1.68%	4%	4%
Vectra AI Vectra AI Enterprise Software / Cybersecurity Return QTD 0% Weight 1.60% Return YTD 0%	Enterprise Software	Cybersecurity	1.60%	0%	0%
Workato Workato Enterprise Software / Productivity Return QTD 0% Weight 1.55% Return YTD -3%	Enterprise Software	Productivity	1.55%	0%	-3%
Workrise Workrise Enterprise Software / Human Resources Return QTD -5% Weight 1.24% Return YTD -22%	Enterprise Software	Human Resources	1.24%	-5%	-22%
xAI xAI Enterprise Software / Data Intelligence Return QTD 84% Weight 1.69% Return YTD 232%	Enterprise Software	Data Intelligence	1.69%	84%	232%
Zipline Zipline Transportation / Delivery Services Return QTD 3% Weight 2.03% Return YTD 27%	Transportation	Delivery Services	2.03%	3%	27%

	Enterprise Software	39.4%
	Industrial	27.9%
	FinTech	13.5%
	Consumer & Lifestyle	5.1%
	Technology Hardware	4.4%
	Transportation	3.5%
	FoodTech	3.2%
	Energy	3.1%

The Forge Private Market Index

Benchmark for actively traded private companies

Index composition

Companies

Sector allocation

Methodology

Designed for both existing and new private market participants