Prime Unicorn Index Falls 4.31%

Industry Leading Benchmark tracking U.S. Venture Capital-Backed Unicorns has significant downward price movement as companies reprice their private securities to reflect current fair market valuations more accurately

The Prime Unicorn Index, a modified market cap price return Index tracking the valuations and share prices of 163 U.S. venture capital-backed Unicorns, experienced its largest drop in more than two years. The funding environment for late-stage venture-backed companies with valuations greater than $1 billion is predicted to remain grim for the foreseeable future, especially with questions surrounding what the long-term impact of Silicon Valley Bank’s demise will have on the industry. However, several Prime Unicorn Index components have repriced their private securities to more accurately align their valuations to reflect current market conditions. 

Motive (formerly Keep Truckin) adjusted their common stock down 43% from $7.80 to $4.46, while Instacart verified their nearly 60% internal cut showing its common stock price fall to $32.01 from $79.56. “Limited Partners in Venture Funds who have invested in these companies, and the employees with options, can remove the speculation and now mark to market with these adjustments,” says Michael Ostendorff, Executive Director with the Prime Unicorn Index. The Index fell to 692.37, down from the previous week’s price of 723.58, a drop of more than 4.31% week over week. 

The internal adjustments are a harsh reality for many companies looking to raise capital or seek liquidity in the public markets. “Recent amendments to the internal valuations of Happy Money and Heartflow, two other Prime Unicorn Index components, fell more than 90% and 85%, respectively”, says Ostendorff. “These massive cuts indicate their Unicorn status is coming to an end.”  

The Prime Unicorn Index is displayed on Bloomberg, Refinitiv, and Yahoo Finance. For more information about the Prime Unicorn Index, please visit or call (646) 290-9254. 

About the Prime Unicorn Index

The Prime Unicorn Index is a modified market cap price return index that measures the share price performance of U.S. private companies valued at $1 billion or more. The index is designed for use in the creation of financial products and as a performance benchmark.