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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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Dataminr$7.57Negative Change$0.03 (0%)
Neo4j$6.10Negative Change$0.38 (6%)
Stripe$72.45Positive Change$0.44 (1%)
Apollo$10.00Negative Change$2.77 (22%)
BigID$1.93Positive Change$0.02 (1%)
SingleStore (MemSQL)$1.51Negative Change$0.02 (1%)
Dragos$20.00Positive Change$4.92 (33%)
Vectra AI$4.96Negative Change$0.36 (7%)
Patreon$10.81Positive Change$0.43 (4%)
Redwood Materials$37.78Positive Change$0.09 (0%)
Lambda$48.90Positive Change$0.40 (1%)
Workato$6.78Negative Change$0.07 (1%)
Erebor$176.23Positive Change$18.88 (12%)
Apptronik$38.50Negative Change$1.35 (3%)
H2O.ai$2.29Negative Change$0.03 (1%)
Abridge$170.39Positive Change$0.39 (0%)
Gametime$8.00Negative Change$2.06 (20%)
Menlo Security$2.49Positive Change$0.02 (1%)
Replit$259.43Positive Change$24.19 (10%)
Lightmatter$101.49Positive Change$3.52 (4%)
What is the Forge Price™ shown above?Info
All ticker data above updated as of: 6/27/26
Index Performance of Hypothetical $10,000
Created with Highcharts 11.0.0+529.0%+229.0%+387.0%+145.0%+146.0%2020202220242026$0$10,000$20,000$30,000$40,000$50,000$60,000$70,000
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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% 38.3%
SPY 31.2% 18.4% 28.7% -18.2% 26.2% 24.9% 17.7% 8.3%
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

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Name Sector Subsector Weight Return QTD Return YTD
Addepar
 Fintech Fintech Software 1.39% -27% -23%
Airtable
 Enterprise Software Communication & Collaboration Software 1.73% -5% -5%
Anduril
 Industrial Aerospace & Defense 2.04% 5% 13%
Anthropic
 Enterprise Software Data Intelligence 3.91% 127% 116%
Apptronik
 Industrial Robotics 1.89% -1% 4%
Automation Anywhere
 Enterprise Software Productivity 1.81% -29% 0%
Ayar Labs
 Technology Hardware Computing Hardware 3.64% 6% 101%
Chainalysis
 Fintech Blockchain Software 1.55% -14% -14%
ConsenSys
 Fintech Blockchain 1.81% 10% 0%
Cresta
 Enterprise Software Business Operations 1.98% 12% 9%
Databricks
 Enterprise Software Data Intelligence 2.22% 23% 22%
Dataminr
 Enterprise Software Data Intelligence 1.43% -15% -21%
Epic Games
 Consumer & Lifestyle Gaming 1.23% -32% -32%
Fin
 Enterprise Software Sales & Marketing / Adtech 1.87% 3% 3%
Flexport
 Industrial Logistics 1.64% -10% -10%
FloQast
 Enterprise Software Business Operations 1.44% -21% -21%
Gecko Robotics
 Industrial Robotics 1.81% 0% 0%
Glean
 Enterprise Software Data Intelligence 1.41% -15% -22%
Groq
 Enterprise Software Data Intelligence 3.90% 0% 115%
Harness
 Enterprise Software Software Development 1.00% -29% -45%
Kraken
 Fintech Blockchain 1.76% 15% -3%
Lambda
 Enterprise Software Cloud / Networking Infrastructure 2.16% -7% 19%
Lightmatter
 Technology Hardware Computing Hardware 3.24% 84% 79%
Liquid Death
 Foodtech Food Products & Services 1.72% -5% -5%
Lyten
 Transportation Electric Vehicles 2.75% 11% 52%
Mercury
 Fintech Digital Banking 2.22% 22% 22%
Neuralink
 Healthcare Medical Devices 1.81% 0% 0%
OpenAI
 Enterprise Software Data Intelligence 2.62% -1% 45%
Perplexity
 Enterprise Software Data Intelligence 1.69% -7% -7%
Polymarket
 Fintech Blockchain 2.20% -1% 21%
Postman
 Enterprise Software Software Development 1.61% 5% -11%
PsiQuantum
 Technology Hardware Computing Hardware 1.70% -11% -6%
Ramp
 Fintech Digital Banking 2.45% 35% 35%
Redwood Materials
 Energy Energy Storage 1.53% 1% -16%
Ripple
 Fintech Payments 1.43% -1% -21%
Rippling
 Enterprise Software Human Resources 1.62% -19% -11%
SambaNova Systems
 Enterprise Software Data Intelligence 4.53% 84% 150%
SandboxAQ
 Enterprise Software Data Intelligence 4.84% 171% 167%
Shield AI
 Industrial Aerospace & Defense 3.42% 7% 89%
Stripe
 Fintech Payments 3.62% 0% 100%
Tanium
 Enterprise Software Cybersecurity 2.48% 0% 37%
The Farmer's Dog
 Foodtech Food Products & Services 1.81% -1% 0%
Thinking Machines Lab
 Enterprise Software Data Intelligence 1.90% 5% 5%
Thrive Market
 Foodtech Food Products & Services 1.91% 0% 5%
Upgrade
 Fintech Digital Banking 1.26% 0% -30%
Zipline
 Transportation Delivery Services 2.02% -5% 12%

Sector allocation

Created with Highcharts 11.0.0
Enterprise Software46.2%
Fintech19.7%
Industrial10.8%
Technology Hardware8.6%
Foodtech5.4%
Transportation4.8%
Healthcare1.8%
Energy1.5%
Consumer & Lifestyle1.2%

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.

©2026 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. All rights reserved. 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 performance. The index methodology assigns equal weights to all constituents at each scheduled rebalance date. 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.