Tracking the Top 30 Components of the Prime Unicorn Composite Index

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Top Unicorns By Valuation

Utilizing both primary finance investment rounds and secondary trading data, the highest-valued Unicorns in the Prime Unicorn 30 Index are as follows

Measure the performance of U.S. based, venture-backed, companies relative to other asset classes.

Investors who own shares in the underlying component companies can accurately price their investments.

Institutional investors who own shares or have LP exposure in the underlying component companies can more accurately price their investments.

2020: SpaceX entered the decade with a valuation above $30B, establishing itself as one of the world’s most valuable private aerospace companies.
2023 (Series I): Raised $685M at an approximate $35.18B valuation, demonstrating resilience amid broader private-market volatility.
2024 (Series J): Raised $8.5B, increasing valuation to approximately $48.75B, marking a significant late-stage step-up.
Preferred pricing: Increased from $73.50 (Series I) to $92.50 (Series J), reflecting sustained investor demand at higher entry points.
Since 2021: SpaceX’s indexed performance has increased approximately +1,459%, driven by expanded Starlink deployment, higher launch cadence, and growing recurring revenue visibility.

2017: Anduril entered the Prime Unicorn Index at a nominal share price, reflecting its early-stage status as a newly founded defense technology company.
2022: PPS surged to ~$30 following its $1.48B Series D at an $8.48B valuation, before stabilizing in the low-$20s.
2024: PPS climbed back to $30+, aligned with its Series E at approximately $14B, signaling renewed investor momentum.
2025: PPS peaked near $60 before settling around $42–$45, driven by valuation step-ups and expanding U.S. and allied defense contracts.
Since inception: Anduril’s Index-tracked PPS has grown 20x+, reflecting strong long-term confidence in autonomous defense systems.

2021 (Series A): Raised $128M at $2.57 PPS, marking its entry into the AI foundation model market.
2022 (Series B): Raised $580M, with PPS increasing to $11.23 (4x+ step-up from Series A).
2023 (Series C): Raised $450M at an approximate $4.62B valuation, reflecting growing demand for frontier AI models.
2024 (Series D): Raised $4.0B, increasing valuation to approximately $17.65B (~4x growth in under a year).
2025 (Series E & F): Raised $4.5B (PPS $56.09) and later $13B at an approximate $34.70B valuation, with PPS reaching $140.97 (54x+ vs. Series A).
Since 2021: Anthropic’s indexed performance has increased approximately +6,700%, highlighting strong investor conviction in large-scale AI infrastructure.