Caplight Partners with OPEN to Power NYSE OPEN Venture Capital Unicorn Index with Secondary Market Data

SAN FRANCISCO, Sept. 3, 2024 /PRNewswire/ -- Caplight, a leading data and trading platform for the pre-IPO secondary market, is proud to announce its partnership with OPEN, a New York Stock Exchange-backed fund manager bringing index products to private markets. With this partnership, Caplight acts as a primary data provider to help power the NYSE OPEN Venture Unicorn Index (NYSEUNI), a new benchmark designed to track the performance of 50 large, US-based Unicorns. The collaboration provides OPEN's benchmark with Caplight's pre-IPO secondary market trade data.

Caplight Centralizes Secondary Market Data

Caplight has aggregated over $300 billion of private secondary market transactional data and is used by top institutional investors and investment banks to value pre-IPO companies. Investors use Caplight to connect with shareholders, and a network of 200 secondary market brokers, to complete secondary market transactions. Caplight's data enhances OPEN's novel approach to valuing private companies.

OPEN Brings Transparency and Access to Private Markets

OPEN's new index offers enhanced insights into the performance and valuation dynamics of leading private venture capital companies. Intercontinental Exchange (ICE) acts as the administrator of the index, meaning observers of the index benefit from ICE's administration and index oversight.

"We are thrilled to partner with OPEN. Products like the NYSE OPEN Venture Unicorn Index open the door for more investors to track and participate in the private markets. ICE acting as index administrator helps institutionalize the market and aligns with Caplight's goal of bringing more institutional capital into the ecosystem," remarked Javier Avalos, CEO at Caplight.

"OPEN is committed to providing access and trusted insights to private markets. Our data partnership with Caplight helps us execute this mission by offering the market a deeper understanding of some of the world's most innovative private companies," said David Shapiro, CEO at OPEN.

Caplight and OPEN are committed to innovating the private markets.

About Caplight

Caplight provides data and liquidity solutions to the pre-IPO secondary market. Securities are offered through Caplight Markets LLC, member FINRA/SIPC, a wholly-owned subsidiary of Caplight Technologies, Inc. For more information, visit www.caplight.com.

About OPEN

OPEN is bringing index investing to late-stage venture capital, enabling better access to some of 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. For more information, visit www.openvc.com.

Media Contact:
Juan Pablo Villafuerte
Chief of Staff, Caplight
(312)982-5915
[email protected]

SOURCE Caplight

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