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Morningstar and PitchBook Introduce New Indexes to Provide Investors with Deeper Insight into Emerging Venture Capital Companies

Morningstar and PitchBook Introduce New Indexes to Provide Investors with Deeper Insight into Emerging Venture Capital Companies

Morningstar, a leading provider of independent investment insights, introduces the Morningstar PitchBook Global Unicorn Industry Vertical Indexes, a suite of eleven indexes that take Morningstar’s global unicorn index series to the next level by offering insights into the industry trends that are propelling and shaping today’s venture capital innovation economy.

The new indexes combine the leading venture company data, analytics and insights from PitchBook, an independent subsidiary of Morningstar, with the indexing expertise of Morningstar Indexes, one of the fastest-growing global index providers. The industry vertical indexes are derived from the Morningstar PitchBook Global Unicorn Indexes, originally launched in November 2022, and are each designed to enhance investors’ ability to identify, track and better understand compelling thematic venture capital investment segments.

Sanjay Arya, CFA – Head of Innovation, Morningstar Indexes, said: “We launched our Morningstar PitchBook Global Unicorn Index Series a year ago to help investors better understand the behavior of private markets and, in the process, provide greater transparency into what has become a significant segment of the capital markets. We’ve now taken this innovation a step further with our industry vertical indexes, providing a deeper understanding of the markets that go beyond the traditional lens.”

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The family of indexes tracks eleven select industry verticals identified by PitchBook’s analysts, which group companies by common products, technologies, or themes to provide a useful taxonomy for discovering innovators with similar growth drivers. These verticals include AgTech, Artificial Intelligence and Machine Learning, BioPharma, Climate Tech, Cybersecurity, E-Commerce, Enterprise SaaS, FinTech, HealthTech, Mobility Tech and Supply Chain Tech.

The indexes use a proprietary mark-to-model pricing methodology, developed by Morningstar, which combines past deal data and private and public comparable data to create an implied price that enables daily estimation of private company valuations.

Paul Condra – Head of Emerging Technology Research, PitchBook, said: “We’re incredibly excited to build on our collaboration with Morningstar Indexes to contribute our industry-leading venture capital data and research expertise to Morningstar Indexes’ index methodology. Each of the eleven index themes corresponds to an established emerging technology research practice area and well-followed research analyst on our PitchBook team.”

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