Week of February 19 – February 25, 2026
Quick Summary
Welcome back to This Week in the Index, where we’ll give a brief overview of what happened this week among Prime Unicorn Index components. IPO activity continued (Generate listed); secondaries were light; and publics were mixed, with sharp dispersion. The Prime Unicorn 30 Index is +0.8% vs Feb 18.
Primary Rounds & Filings
- Generate Biomedicines* (GENB): IPO at $16.00/share (1.519‑to‑1 reverse split); raised $400M.
Secondary Transactions
- Mercury*: $15.00 (−3.2%).
Public Components
- Figma (FIG): +29.2% to $31.24
- Via Transportation* (VIA): +6.7% to $17.61
- Netskope* (NTSK): −4.8% to $10.98
- Navan* (NAVN): −7.9% to $9.30
- BillionToOne* (BLLN): −21.9% to $70.01
- EquipmentShare (EQPT): −7.9% to $29.77
- Ethos (LIFE): +5.7% to $11.84
- Eikon Therapeutics* (EIKN): −8.4% to $14.89
Notable News
- OpenAI expecting $600B of compute spending by 2030.
- Anthropic and the Pentagon are reportedly in a “standoff.”
- Generate Biomedicines* raised $400M in its IPO.
- Coalition* closed an additional $300M led by Index Ventures and General Atlantic.
- Sigma Computing* doubled ARR in 12 months.
Index Performance
The Prime Unicorn 30 Index closed at 223.92 on Feb 25, up 0.8% vs 222.16 on Feb 18.
*These companies are components of the Prime Unicorn Composite Index, but are not included in the Prime Unicorn 30 Index.